QRG Capital Management Inc. Raises Stock Holdings in General Dynamics Corporation $GD

Key Points

• QRG Capital Management increased its General Dynamics stake by 4.7% in the second quarter, bringing its holdings to 66,370 shares worth approximately $23.5 million. Institutional investors collectively own 86.14% of the company.
• General Dynamics exceeded quarterly expectations, reporting $4.24 in EPS and $14.09 billion in revenue, with revenue rising 8.1% year over year. The company also declared a quarterly dividend of $1.59 per share, representing a 1.9% yield.
• Wall Street maintains a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $410.84. However, CEO Phebe Novakovic and EVP Marguerite Gilliland recently sold significant portions of their holdings.

QRG Capital Management Inc. raised its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 4.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 66,370 shares of the aerospace company's stock after acquiring an additional 2,962 shares during the period. QRG Capital Management Inc.'s holdings in General Dynamics were worth $23,511,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GD. Caisse de depot et placement du Quebec grew its position in General Dynamics by 454.0% in the 2nd quarter. Caisse de depot et placement du Quebec now owns 180,917 shares of the aerospace company's stock worth $64,088,000 after purchasing an additional 148,262 shares during the period. Empowered Funds LLC bought a new position in shares of General Dynamics during the 2nd quarter valued at $21,368,000. United Capital Financial Advisors LLC bought a new position in shares of General Dynamics during the 2nd quarter valued at $30,781,000. Professional Advisory Services Inc. boosted its stake in shares of General Dynamics by 4.0% in the 2nd quarter. Professional Advisory Services Inc. now owns 67,028 shares of the aerospace company's stock worth $23,744,000 after buying an additional 2,562 shares during the last quarter. Finally, FSA Advisors Inc. bought a new stake in shares of General Dynamics in the second quarter worth $1,254,000. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Stock Performance

Shares of GD stock traded down $0.19 during trading hours on Wednesday, reaching $343.20. 1,085,200 shares of the company traded hands, compared to its average volume of 1,288,862. The firm has a 50-day moving average price of $375.16 and a 200 day moving average price of $357.50. The company has a market cap of $92.86 billion, a P/E ratio of 20.94, a P/E/G ratio of 2.04 and a beta of 0.32. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.44 and a quick ratio of 0.96. General Dynamics Corporation has a 12-month low of $306.77 and a 12-month high of $400.00.

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, topping the consensus estimate of $3.96 by $0.28. General Dynamics had a net margin of 8.18% and a return on equity of 17.43%. The company had revenue of $14.09 billion during the quarter, compared to analyst estimates of $13.52 billion. During the same period in the prior year, the firm posted $3.74 EPS. The firm's quarterly revenue was up 8.1% compared to the same quarter last year. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. As a group, sell-side analysts predict that General Dynamics Corporation will post 16.99 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

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 given a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, October 9th. General Dynamics's dividend payout ratio (DPR) is presently 38.80%.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 51,568 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $382.58, for a total transaction of $19,728,885.44. Following the sale, the chief executive officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marguerite Gilliland sold 43,180 shares of the business's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $378.04, for a total value of $16,323,767.20. Following the completion of the transaction, the executive vice president owned 44,767 shares in the company, valued at $16,923,716.68. The trade was a 49.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GD shares. Weiss Ratings raised General Dynamics from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 1st. TD Cowen boosted their price target on General Dynamics from $390.00 to $420.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Morgan Stanley upped their price target on shares of General Dynamics from $435.00 to $465.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. BNP Paribas Exane increased their price objective on shares of General Dynamics from $390.00 to $430.00 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. Finally, Robert W. Baird set a $430.00 price objective on shares of General Dynamics in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, General Dynamics presently has a consensus rating of "Moderate Buy" and an average price target of $410.84.

General Dynamics 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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