Vanguard Trims General Dynamics Stake to 9.77%

TL;DR

**Vanguard cut its GD stake to 9.77%, down from 10.02%.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended Schedule 13G/A on February 13, 2024, indicating its beneficial ownership of General Dynamics Corp (GD) common stock as of December 29, 2023. Vanguard reported holding 26,767,880 shares, representing 9.77% of the company's outstanding common stock. This filing is an update to their previous disclosures, showing a slight decrease in their reported stake from 10.02% in their last filing, which matters to investors as it signals a minor reduction in a major institutional investor's conviction in the stock.

Why It Matters

This filing shows that a major institutional investor, Vanguard, slightly reduced its stake in General Dynamics, which could be interpreted as a minor shift in their investment strategy or outlook for the company.

Risk Assessment

Risk Level: low — The change in ownership is minor and from a passive institutional investor, posing minimal immediate risk to the stock.

Analyst Insight

Investors should note the minor reduction in Vanguard's stake, but recognize that it's a passive investment and unlikely to signal a major shift in General Dynamics' fundamentals. Monitor future institutional filings for broader trends.

Key Numbers

• 26,767,880 — Shares Beneficially Owned (Represents Vanguard's total holding in General Dynamics Corp common stock as of December 29, 2023.)
• 9.77% — Percentage of Class (Indicates Vanguard's ownership stake in General Dynamics Corp, a slight decrease from previous filings.)
• December 29, 2023 — Event Date (The specific date that triggered the requirement for this Schedule 13G/A amendment.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• General Dynamics Corp (company) — issuer of the securities
• December 29, 2023 (date) — date of event requiring the filing
• February 13, 2024 (date) — filing date of the SC 13G/A
• 26,767,880 (dollar_amount) — number of shares beneficially owned by Vanguard
• 9.77% (dollar_amount) — percentage of class beneficially owned by Vanguard

Forward-Looking Statements

• Vanguard will maintain a significant, but slightly reduced, passive stake in General Dynamics. (The Vanguard Group) — high confidence, target: Next 12 months

FAQ

Filing Documents

• tv0072-generaldynamicscorp.htm (SC 13G/A) — 11KB
• 0001104659-24-020064.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: General Dynamics Corp

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 11011 Sunset Hills Road Reston, VA 20190-5311

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 369550108

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR