Longview Asset Management, General Dynamics' largest shareholder, sold 2,707,871 shares for gross proceeds of about $954 million between September 1 and October 1. According to NS3.AI, the 25 separate sales reduced Longview's stake by approximately 10% from August 26.

Longview accounted for 9.6% of all General Dynamics shares traded in September. General Dynamics shares have declined 13% since August 26, while the S&P 500 rallied over the same period. A Longview spokesperson said the sales were part of general portfolio diversification and were unrelated to any matter concerning General Dynamics.