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

From the Filing

0001104659-24-020064.txt : 20240213 0001104659-24-020064.hdr.sgml : 20240213 20240213165549 ACCESSION NUMBER: 0001104659-24-020064 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240213 DATE AS OF CHANGE: 20240213 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: 24627093 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: VANGUARD GROUP INC CENTRAL INDEX KEY: 0000102909 ORGANIZATION NAME: IRS NUMBER: 231945930 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 SC 13G/A 1 tv0072-generaldynamicscorp.htm SCHEDULE 13G/A generaldynamicscorp SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No.: 10)* Name of issuer:  General Dynamics Corp Title of Class of Securities:  Common Stock CUSIP Number:  369550108 Date of Event Which Requires Filing of this Statement: December 29, 2023 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: ☒ Rule 13d-1(b) ☐ Rule 13d-1(c) ☐ 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). (Continued on the following page(s))     13G CUSIP No.:  369550108 1.  NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The Vanguard Group - 23-1945930 2.  CHECK THE APPROPRIATE [LINE] IF A MEMBER OF A GROUP A.  B.  X 3.  SEC USE ONLY 4.  CITIZENSHIP OF PLACE OF ORGANIZATION Pennsylvania (For questions 5-8, report the number of shares beneficially owned by each reporting person with:) 5.  SOLE VOTING POWER 0 6.  SHARED VOTING POWER 269,592 7.  SOLE DISPOSITIVE POWER 20,802,408 8.  SHARED DISPOSITIVE POWER 973,166 9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 21,775,574 10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES N/A 11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.98% 12.  TYPE OF REPORTING PERSON IA     SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Act of 1934 Item 1(a) - Name of Issuer: General Dynamics Corp Item 1(b) - Address of Issuer's Principal Executive Offices: 11011 Sunset Hills Road Reston, VA 20190-5311 Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930 Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355 Item 2(c) – Citizenship: Pennsylvania Item 2(d) - Title of Class of Securities: Common Stock Item 2(e) - CUSIP Number 369550108 Item 3 - Type o