State Street Corp Has $4.18 Billion Holdings in General Dynamics Corporation $GD

Key Points

• State Street increased its General Dynamics stake by 3.3% in the second quarter, holding 11.81 million shares worth approximately $4.18 billion, or 4.37% of the company. Institutional investors and hedge funds collectively own 86.14% of GD.
• General Dynamics reported quarterly EPS of $4.24, beating estimates of $3.96, while revenue rose 8.1% year over year to $14.09 billion. The company also declared a quarterly dividend of $1.59, equivalent to a 1.8% annual yield.
• Shares recently fell 2.8% to $343.82, despite a consensus analyst rating of “Moderate Buy” and an average price target of $411.58. Meanwhile, the CEO and an executive vice president disclosed sizable stock sales in early August.

State Street Corp grew its position in General Dynamics Corporation (NYSE:GD - Free Report) by 3.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,811,099 shares of the aerospace company's stock after purchasing an additional 374,682 shares during the quarter. State Street Corp owned about 4.37% of General Dynamics worth $4,183,964,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Oxford Financial Group LTD. LLC boosted its stake in shares of General Dynamics by 1.9% in the 2nd quarter. Oxford Financial Group LTD. LLC now owns 1,426 shares of the aerospace company's stock valued at $505,000 after purchasing an additional 26 shares in the last quarter. Willner & Heller LLC boosted its stake in shares of General Dynamics by 1.4% during the second quarter. Willner & Heller LLC now owns 2,050 shares of the aerospace company's stock valued at $726,000 after purchasing an additional 28 shares in the last quarter. Meriwether Wealth & Planning LLC grew its holdings in shares of General Dynamics by 0.8% during the second quarter. Meriwether Wealth & Planning LLC now owns 3,443 shares of the aerospace company's stock worth $1,220,000 after purchasing an additional 28 shares during the last quarter. Capital Advisors Inc. OK increased its stake in shares of General Dynamics by 0.6% in the second quarter. Capital Advisors Inc. OK now owns 4,551 shares of the aerospace company's stock valued at $1,612,000 after buying an additional 29 shares during the period. Finally, Klingman & Associates LLC increased its stake in shares of General Dynamics by 3.3% in the first quarter. Klingman & Associates LLC now owns 949 shares of the aerospace company's stock valued at $326,000 after buying an additional 30 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at General Dynamics

In related news, EVP Marguerite Gilliland sold 43,180 shares of General Dynamics stock in a transaction that occurred on 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 sale, the executive vice president owned 44,767 shares of the company's stock, valued at approximately $16,923,716.68. The trade was a 49.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Phebe N. Novakovic sold 51,568 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $382.58, for a total value of $19,728,885.44. Following the transaction, the chief executive officer directly owned 766,457 shares of the company's stock, valued at approximately $293,231,119.06. This trade represents a 6.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.40% of the company's stock.

General Dynamics Stock Down 2.8%

Shares of GD stock traded down $10.08 on Tuesday, reaching $343.82. 444,170 shares of the company were exchanged, compared to its average volume of 1,285,237. The company has a market cap of $93.02 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 2.04 and a beta of 0.32. General Dynamics Corporation has a one year low of $306.77 and a one year high of $400.00. The company has a 50-day moving average of $375.67 and a 200-day moving average of $357.65. 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 (NYSE:GD - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The aerospace company reported $4.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.96 by $0.28. General Dynamics had a return on equity of 17.43% and a net margin of 8.18%.The business had revenue of $14.09 billion during the quarter, compared to the consensus estimate of $13.52 billion. During the same quarter in the previous year, the business earned $3.74 EPS. The company's quarterly 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. Analysts anticipate that General Dynamics Corporation will post 16.99 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 9th will be given a $1.59 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $6.36 annualized dividend and a yield of 1.8%. General Dynamics's payout ratio is currently 38.80%.

Analyst Ratings Changes

GD has been the subject of several analyst reports. BNP Paribas Exane raised their target price on General Dynamics from $390.00 to $430.00 and gave the stock an "outperform" rating in a research report on Thursday, July 30th. Jefferies Financial Group upped their target price on General Dynamics from $400.00 to $440.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Robert W. Baird set a $430.00 price target on shares of General Dynamics in a report on Thursday, July 30th. Royal Bank Of Canada upped their price target on shares of General Dynamics from $385.00 to $410.00 and gave the company a "sector perform" rating in a research report on Thursday, July 30th. Finally, Susquehanna increased their price target on General Dynamics from $420.00 to $455.00 and gave the stock a "positive" rating 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 issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $411.58.

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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