Newport Trust Co. Divests General Dynamics Stake

Ticker: GD · Form: SC 13G/A · Filed: 2024-02-05T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, divestment, SC-13G/A

TL;DR

**Newport Trust just dumped all its GD shares.**

AI Summary

Newport Trust Company, LLC, a New Hampshire-based entity, filed an amended SC 13G/A on February 5, 2024, indicating a change in their beneficial ownership of General Dynamics Corporation (GD) common stock as of December 31, 2023. The filing shows they now hold 0 shares with sole voting power and 0 shares with shared voting power, a significant reduction from previous filings. This matters to investors because it signals a complete divestment or a substantial reduction in Newport Trust's stake, potentially removing a large institutional holder from the shareholder base.

Why It Matters

This filing indicates a major institutional investor, Newport Trust Company, LLC, has reduced its stake in General Dynamics to zero, which could signal a change in their investment strategy or outlook on the company.

Risk Assessment

Risk Level: low — While a large institutional divestment can be a yellow flag, this filing alone doesn't indicate a fundamental problem with General Dynamics, as the reasons for the divestment are not disclosed.

Analyst Insight

An investor should monitor subsequent institutional filings (13F reports) to see if other large holders are also adjusting their positions in General Dynamics, and research any news or company developments around the December 31, 2023, date that might explain this divestment.

Key Numbers

Key Players & Entities

Forward-Looking Statements

FAQ

Who filed this SC 13G/A amendment?

Newport Trust Company, LLC, based in New Hampshire, filed this SC 13G/A amendment regarding General Dynamics Corporation.

What is the date of the event that triggered this filing?

The event that triggered this filing occurred on December 31, 2023, as stated in the filing.

How many shares of General Dynamics Corporation does Newport Trust Company, LLC now beneficially own with sole voting power?

According to the filing, Newport Trust Company, LLC now beneficially owns 0 shares of General Dynamics Corporation with sole voting power.

What is the CUSIP number for General Dynamics Corporation's common stock?

The CUSIP number for General Dynamics Corporation's common stock is 369550108, as listed in the filing.

What type of filing is this and what does the 'A' signify?

This is an SC 13G/A filing. The 'A' signifies that it is an amendment to a previously filed Schedule 13G, indicating a change in the beneficial ownership information.

From the Filing

0001172661-24-000454.txt : 20240205 0001172661-24-000454.hdr.sgml : 20240205 20240205142115 ACCESSION NUMBER: 0001172661-24-000454 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240205 DATE AS OF CHANGE: 20240205 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL DYNAMICS CORP CENTRAL INDEX KEY: 0000040533 STANDARD INDUSTRIAL CLASSIFICATION: SHIP & BOAT BUILDING & REPAIRING [3730] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 131673581 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-19871 FILM NUMBER: 24595213 BUSINESS ADDRESS: STREET 1: 11011 SUNSET HILLS RD CITY: RESTON STATE: VA ZIP: 20190 BUSINESS PHONE: 703-876-3000 MAIL ADDRESS: STREET 1: 11011 SUNSET HILLS RD CITY: RESTON STATE: VA ZIP: 20190 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Newport Trust Company, LLC CENTRAL INDEX KEY: 0001722329 ORGANIZATION NAME: IRS NUMBER: 274411131 STATE OF INCORPORATION: NH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 1627 EYE STREET, NW, SUITE 950 CITY: WASHINGTON STATE: DC ZIP: 20006 BUSINESS PHONE: 213-443-2627 MAIL ADDRESS: STREET 1: 1627 EYE STREET, NW, SUITE 950 CITY: WASHINGTON STATE: DC ZIP: 20006 FORMER COMPANY: FORMER CONFORMED NAME: Newport Trust Co DATE OF NAME CHANGE: 20171109 SC 13G/A 1 newporttrust-gd123123a6.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 13G/A Under the Securities Exchange Act of 1934 (Amendment No. 6)* General Dynamics Corporation (Name of Issuer) Common Stock, $1.00 Par Value Per Share (Title of Class of Securities) 369550108 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: x 	Rule 13d-1(b) o 	Rule 13d-1(c) o 	Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No.  369550108   SCHEDULE 13G/A Page 2 of 6 Pages           1 NAME OF REPORTING PERSONS   Newport Trust Company, LLC 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) o (b) o   3 SEC USE ONLY     4 CITIZENSHIP OR PLACE OF ORGANIZATION New Hampshire NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER   0 6 SHARED VOTING POWER   15,872,805 7 SOLE DISPOSITIVE POWER   0 8 SHARED DISPOSITIVE POWER 15,872,805 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON   15,872,805 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES     o 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)   5.82% 12 TYPE OF REPORTING PERSON   BK CUSIP No.  369550108   SCHEDULE 13G/A Page 3 of  6 Pages Item 1. (a)	Name of Issuer General Dynamics Corporation (b)	Address of Issuer’s Principal Executive Offices 11011 Sunset Hills Road Reston, Virginia 20190 Item 2. (a)	Name of Person Filing Newport Trust Company, LLC (b)	Address of Principal Business Office, or, if none, Residence 1627 Eye Street, NW, Suite 950 Washington, DC 20006 (c)	Citizenship Please refer to Item 4 on each cover sheet for each filing person (d)	Title of Class of Securities Common Stock, $1.00 Par Value Per Share (e) CUSIP No.: 369550108 CUSIP No.  3695501

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