South Dakota Investment Council Purchases 4,400 Shares of General Dynamics Corporation $GD

South Dakota Investment Council raised its position in shares of General Dynamics Corporation (NYSE:GD) by 9.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 48,850 shares of the aerospace company’s stock after purchasing an additional 4,400 shares during the period. South Dakota Investment Council’s holdings in General Dynamics were worth $14,248,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GD. Quarry LP boosted its holdings in General Dynamics by 783.3% in the 1st quarter. Quarry LP now owns 106 shares of the aerospace company’s stock worth $29,000 after buying an additional 94 shares during the period. Abound Financial LLC purchased a new position in shares of General Dynamics in the first quarter valued at about $32,000. Harbor Asset Planning Inc. bought a new position in shares of General Dynamics in the second quarter worth about $35,000. Nova Wealth Management Inc. bought a new position in shares of General Dynamics in the first quarter worth about $33,000. Finally, Salomon & Ludwin LLC grew its position in shares of General Dynamics by 70.4% during the second quarter. Salomon & Ludwin LLC now owns 121 shares of the aerospace company’s stock worth $36,000 after purchasing an additional 50 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on GD. Wall Street Zen upgraded General Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Weiss Ratings restated a “buy (b)” rating on shares of General Dynamics in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $400.00 target price on shares of General Dynamics in a research note on Wednesday, October 8th. Bank of America boosted their price target on shares of General Dynamics from $370.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Finally, Robert W. Baird set a $390.00 price objective on General Dynamics in a research report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $350.89.

Insider Activity at General Dynamics

In related news, EVP Marguerite Amy Gilliland sold 33,740 shares of General Dynamics stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the completion of the transaction, the executive vice president directly owned 45,192 shares of the company’s stock, valued at approximately $14,244,518.40. The trade was a 42.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher J. Brady sold 8,150 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $321.18, for a total transaction of $2,617,617.00. Following the completion of the sale, the vice president directly owned 22,818 shares in the company, valued at $7,328,685.24. This trade represents a 26.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 193,110 shares of company stock valued at $60,778,364 over the last three months. Corporate insiders own 1.50% of the company’s stock.

General Dynamics Stock Up 0.0%

Shares of NYSE GD opened at $344.81 on Monday. The company has a current ratio of 1.40, a quick ratio of 0.87 and a debt-to-equity ratio of 0.29. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $360.50. The firm’s 50-day moving average price is $332.50 and its 200-day moving average price is $304.95. The stock has a market capitalization of $93.14 billion, a price-to-earnings ratio of 22.35, a P/E/G ratio of 2.05 and a beta of 0.47.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Friday, October 24th. The aerospace company reported $3.88 earnings per share for the quarter, topping the consensus estimate of $3.69 by $0.19. The company had revenue of $12.91 billion for the quarter, compared to analysts’ expectations of $12.49 billion. General Dynamics had a return on equity of 18.27% and a net margin of 8.18%.The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.35 earnings per share. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. On average, equities research analysts anticipate that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be given a $1.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a yield of 1.7%. General Dynamics’s dividend payout ratio (DPR) is currently 38.89%.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.