State of New Jersey Common Pension Fund D Sells 1,824 Shares of General Dynamics Corporation $GD

State of New Jersey Common Pension Fund D lessened its holdings in General Dynamics Corporation (NYSE:GD) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,059 shares of the aerospace company’s stock after selling 1,824 shares during the period. State of New Jersey Common Pension Fund D’s holdings in General Dynamics were worth $22,183,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Leelyn Smith LLC increased its stake in shares of General Dynamics by 1.6% in the second quarter. Leelyn Smith LLC now owns 17,269 shares of the aerospace company’s stock valued at $5,037,000 after buying an additional 276 shares during the period. Ranch Capital Advisors Inc. grew its holdings in General Dynamics by 7.4% during the 2nd quarter. Ranch Capital Advisors Inc. now owns 5,674 shares of the aerospace company’s stock worth $1,655,000 after acquiring an additional 391 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of General Dynamics by 3.5% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 612,450 shares of the aerospace company’s stock worth $178,627,000 after acquiring an additional 20,820 shares in the last quarter. Moloney Securities Asset Management LLC boosted its position in shares of General Dynamics by 2.7% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 9,058 shares of the aerospace company’s stock valued at $2,642,000 after purchasing an additional 242 shares in the last quarter. Finally, Catalyst Capital Advisors LLC grew its stake in General Dynamics by 72.1% during the second quarter. Catalyst Capital Advisors LLC now owns 907 shares of the aerospace company’s stock worth $265,000 after purchasing an additional 380 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Insider Transactions at General Dynamics

In other news, EVP Mark Lagrand Burns sold 43,860 shares of General Dynamics stock in a transaction on Monday, July 28th. The stock was sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the sale, the executive vice president directly owned 39,875 shares in the company, valued at $12,452,165. The trade was a 52.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher J. Brady sold 8,150 shares of the business’s stock in a transaction dated 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 completion of the transaction, the vice president directly owned 22,818 shares in the company, valued at $7,328,685.24. This trade represents a 26.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 242,460 shares of company stock worth $76,192,291. Company insiders own 1.50% of the company’s stock.

General Dynamics Price Performance

GD stock opened at $350.22 on Friday. The company has a market capitalization of $94.20 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 2.16 and a beta of 0.47. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $360.50. The business has a 50-day simple moving average of $329.49 and a two-hundred day simple moving average of $302.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Friday, October 24th. The aerospace company reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.19. The business had revenue of $12.91 billion during the quarter, compared to the consensus estimate of $12.49 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.General Dynamics’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.35 earnings per share. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. Research analysts expect that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 annualized dividend and a yield of 1.7%. General Dynamics’s payout ratio is currently 40.27%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Susquehanna boosted their target price on shares of General Dynamics from $315.00 to $365.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of General Dynamics in a report on Saturday. Seaport Res Ptn upgraded General Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. UBS Group upped their price target on General Dynamics from $309.00 to $333.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Finally, Citigroup increased their price target on General Dynamics from $348.00 to $368.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, General Dynamics has an average rating of “Hold” and an average price target of $327.44.

General Dynamics Company 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.