Truist Financial Corp Has $83.55 Million Stake in General Dynamics Corporation $GD

Key Points

• Truist Financial Corp has increased its stake in General Dynamics Corporation to $83.55 million, holding 286,456 shares after acquiring an additional 1,370 shares in Q2.
• Analysts are optimistic, with multiple firms raising their price targets for General Dynamics, the highest now at $345.00, reflecting a strong interest in the stock.
• General Dynamics recently reported earnings of $3.74 per share, exceeding expectations and indicating revenue growth of 8.9% compared to the previous year.

Truist Financial Corp boosted its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 0.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 286,456 shares of the aerospace company's stock after buying an additional 1,370 shares during the quarter. Truist Financial Corp owned about 0.11% of General Dynamics worth $83,548,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Inlight Wealth Management LLC acquired a new position in General Dynamics during the first quarter worth $26,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of General Dynamics in the first quarter valued at about $27,000. Quarry LP grew its position in shares of General Dynamics by 783.3% in the first quarter. Quarry LP now owns 106 shares of the aerospace company's stock valued at $29,000 after purchasing an additional 94 shares during the last quarter. Perkins Coie Trust Co grew its position in shares of General Dynamics by 80.0% in the first quarter. Perkins Coie Trust Co now owns 117 shares of the aerospace company's stock valued at $32,000 after purchasing an additional 52 shares during the last quarter. Finally, Abound Financial LLC acquired a new stake in shares of General Dynamics in the first quarter valued at about $32,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GD shares. TD Cowen raised their price target on General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. JPMorgan Chase & Co. raised their price target on General Dynamics from $284.00 to $345.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft raised General Dynamics from a "hold" rating to a "buy" rating and raised their price target for the company from $298.00 to $342.00 in a research report on Tuesday, July 8th. Sanford C. Bernstein set a $314.00 price target on General Dynamics and gave the company a "market perform" rating in a research report on Monday, July 14th. Finally, Seaport Res Ptn upgraded shares of General Dynamics from a "hold" rating to a "strong-buy" rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $315.78.

General Dynamics Stock Down 0.0%

Shares of GD opened at $340.96 on Thursday. The stock has a market cap of $91.71 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 2.09 and a beta of 0.47. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $341.19. The company has a 50-day moving average price of $320.78 and a two-hundred day moving average price of $293.08.

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

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be paid a dividend of $1.50 per share. The ex-dividend date 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%.

Insider Activity

In other news, VP William A. Moss sold 17,700 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the completion of the sale, the vice president owned 16,627 shares of the company's stock, valued at approximately $5,260,782.80. This trade represents a 51.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Christopher J. Brady sold 8,150 shares of the firm's stock in a transaction that occurred on 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 sale, the vice president directly owned 22,818 shares of the company's stock, valued at approximately $7,328,685.24. The trade was a 26.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 275,020 shares of company stock valued at $86,414,503. 1.50% of the stock is owned by company insiders.

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.

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