Amundi Grows Stake in General Dynamics Corporation $GD

Key Points

• Amundi increased its General Dynamics stake by 13.6% in the second quarter, holding 171,313 shares worth approximately $60.7 million. Institutional investors collectively own 86.14% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $411.58; several firms recently raised their targets to between $440 and $465.
• General Dynamics exceeded quarterly expectations, reporting $4.24 in EPS and $14.09 billion in revenue, while revenue grew 8.1% year over year. The company also declared a quarterly dividend of $1.59 per share, yielding about 1.8% annually.

Amundi raised its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 13.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 171,313 shares of the aerospace company's stock after purchasing an additional 20,560 shares during the period. Amundi owned about 0.06% of General Dynamics worth $60,686,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. California State Teachers Retirement System raised its stake in General Dynamics by 35,603.0% in the second quarter. California State Teachers Retirement System now owns 126,417,629 shares of the aerospace company's stock worth $44,782,181,000 after buying an additional 126,063,548 shares in the last quarter. BlackRock Inc. purchased a new stake in General Dynamics during the second quarter worth $6,840,590,000. Bank of America Corp DE bought a new stake in General Dynamics during the 2nd quarter valued at $2,603,527,000. Corient Private Wealth LP purchased a new position in shares of General Dynamics in the 2nd quarter valued at $57,986,000. Finally, Bank of New York Mellon Corp bought a new position in shares of General Dynamics in the 2nd quarter worth $429,073,000. Institutional investors own 86.14% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Susquehanna raised their price objective on General Dynamics from $420.00 to $455.00 and gave the company a "positive" rating in a research report on Thursday, July 30th. Wells Fargo & Company boosted their target price on shares of General Dynamics from $400.00 to $440.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $384.00 price target on shares of General Dynamics in a research report on Thursday, July 30th. Morgan Stanley raised their price target on shares of General Dynamics from $435.00 to $465.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. Finally, UBS Group lifted their price objective on shares of General Dynamics from $395.00 to $408.00 and gave the stock a "neutral" rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, General Dynamics currently has an average rating of "Moderate Buy" and a consensus price target of $411.58.

Insider Buying and Selling

In related news, CEO Phebe N. Novakovic sold 51,568 shares of the firm's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $382.58, for a total transaction of $19,728,885.44. Following the completion of the transaction, the chief executive officer owned 766,457 shares of the company's stock, valued at $293,231,119.06. This trade represents a 6.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Marguerite Gilliland sold 43,180 shares of the business's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $378.04, for a total transaction of $16,323,767.20. Following the transaction, the executive vice president owned 44,767 shares of the company's stock, valued at $16,923,716.68. This represents a 49.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 100,228 shares of company stock valued at $38,052,853 over the last quarter. 1.40% of the stock is currently owned by company insiders.

General Dynamics Trading Up 0.5%

NYSE GD opened at $354.32 on Friday. General Dynamics Corporation has a 12-month low of $306.77 and a 12-month high of $400.00. The company has a fifty day simple moving average of $378.18 and a two-hundred day simple moving average of $357.54. The company has a current ratio of 1.44, a quick ratio of 0.96 and a debt-to-equity ratio of 0.23. The stock has a market cap of $95.87 billion, a P/E ratio of 21.62, a P/E/G ratio of 2.04 and a beta of 0.32.

General Dynamics (NYSE:GD - Get Free Report) last released its earnings results on Wednesday, July 29th. The aerospace company reported $4.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.28. General Dynamics had a return on equity of 17.43% and a net margin of 8.18%.The firm had revenue of $14.09 billion for the quarter, compared to the consensus estimate of $13.52 billion. During the same period in the prior year, the firm earned $3.74 EPS. The firm's revenue was up 8.1% on a year-over-year basis. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. On average, analysts forecast that General Dynamics Corporation will post 16.99 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 9th will be paid a $1.59 dividend. This represents a $6.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, October 9th. General Dynamics's dividend payout ratio (DPR) is presently 38.80%.

General Dynamics Company Profile

General Dynamics Corporation NYSE: GD is an aerospace and defense company that develops and delivers products and services for government and commercial customers. Its operations are organized across four principal business areas: Aerospace, Marine Systems, Combat Systems and Technologies.

Through its Aerospace business, General Dynamics manufactures Gulfstream business jets and provides aircraft maintenance, repair and refurbishment services. Its Marine Systems businesses design and build nuclear-powered submarines and surface ships, while Combat Systems produces military vehicles, weapons systems and munitions.

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