Strs Ohio Buys Shares of 61,085 General Dynamics Corporation $GD

Key Points

• Strs Ohio has acquired a new stake in General Dynamics Corporation, purchasing 61,085 shares valued at approximately $16.65 million during the first quarter.
• The company's recent quarterly earnings showed an EPS of $3.74, surpassing estimates, with revenue increasing 8.9% year-over-year to $13.04 billion.
• General Dynamics has announced a quarterly dividend of $1.50, with a dividend yield of 1.8%, to be paid on November 14th to investors of record on October 10th.

Strs Ohio bought a new stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 61,085 shares of the aerospace company's stock, valued at approximately $16,651,000.

Several other large investors have also modified their holdings of the stock. GK Wealth Management LLC bought a new position in shares of General Dynamics during the first quarter worth about $205,000. Jacobi Capital Management LLC lifted its position in shares of General Dynamics by 6.4% during the first quarter. Jacobi Capital Management LLC now owns 8,078 shares of the aerospace company's stock worth $2,202,000 after purchasing an additional 489 shares during the last quarter. SWS Partners lifted its position in shares of General Dynamics by 18.2% during the first quarter. SWS Partners now owns 9,130 shares of the aerospace company's stock worth $2,489,000 after purchasing an additional 1,403 shares during the last quarter. BOS Asset Management LLC lifted its position in shares of General Dynamics by 57.2% during the first quarter. BOS Asset Management LLC now owns 2,410 shares of the aerospace company's stock worth $657,000 after purchasing an additional 877 shares during the last quarter. Finally, WBI Investments LLC bought a new position in shares of General Dynamics during the first quarter worth about $215,000. Institutional investors own 86.14% of the company's stock.

Analyst Upgrades and Downgrades

GD has been the topic of a number of recent research reports. Citigroup raised their target price on shares of General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Cowen reaffirmed a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. Jefferies Financial Group set a $325.00 price target on General Dynamics and gave the company a "hold" rating in a report on Wednesday, July 9th. Wolfe Research raised General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price target on the stock in a report on Thursday, July 24th. Finally, Sanford C. Bernstein set a $314.00 price objective on shares of General Dynamics and gave the company a "market perform" rating in a research note on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of "Hold" and an average price target of $315.78.

Insider Transactions at General Dynamics

In other General Dynamics news, EVP Marguerite Amy Gilliland sold 33,740 shares of General Dynamics stock in a transaction on 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 sale, the executive vice president owned 45,192 shares of the company's stock, valued at $14,244,518.40. This trade represents a 42.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Christopher J. Brady sold 8,150 shares of General Dynamics stock in a transaction on Monday, August 25th. The shares were sold at an average price of $321.18, for a total transaction of $2,617,617.00. Following the sale, the vice president directly owned 22,818 shares of the company's stock, valued at $7,328,685.24. This trade represents a 26.32% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 271,800 shares of company stock worth $85,353,674. 1.50% of the stock is currently owned by insiders.

General Dynamics Price Performance

General Dynamics stock traded up $0.56 during mid-day trading on Monday, hitting $326.71. The company's stock had a trading volume of 694,835 shares, compared to its average volume of 756,752. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $87.88 billion, a P/E ratio of 21.93, a P/E/G ratio of 2.00 and a beta of 0.50. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $330.18. The stock's fifty day moving average price is $314.39 and its two-hundred day moving average price is $287.97.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The firm had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. During the same quarter in the previous year, the business posted $3.26 earnings per share. The firm's quarterly revenue was up 8.9% compared to the same quarter last year. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Research analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. General Dynamics's dividend payout ratio (DPR) is currently 40.27%.

About General Dynamics

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.