Public Employees Retirement System of Ohio Makes New $37.15 Million Investment in General Dynamics Corporation $GD

Public Employees Retirement System of Ohio bought a new stake in General Dynamics Corporation (NYSE:GD) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 104,865 shares of the aerospace company’s stock, valued at approximately $37,147,000.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of General Dynamics during the 2nd quarter worth $6,840,590,000. Bank of America Corp DE acquired a new stake in General Dynamics in the 2nd quarter valued at about $2,603,527,000. Corient Private Wealth LP acquired a new stake in General Dynamics in the 2nd quarter valued at about $57,986,000. Bank of New York Mellon Corp purchased a new position in General Dynamics during the 2nd quarter valued at about $429,073,000. Finally, AQR Capital Management LLC raised its position in General Dynamics by 118.3% during the third quarter. AQR Capital Management LLC now owns 1,663,847 shares of the aerospace company’s stock worth $567,372,000 after acquiring an additional 901,679 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

Shares of GD opened at $379.70 on Friday. General Dynamics Corporation has a 1 year low of $306.77 and a 1 year high of $400.00. The company’s 50 day simple moving average is $376.45 and its 200 day simple moving average is $356.76. The company has a market capitalization of $102.73 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 2.20 and a beta of 0.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.96 and a current ratio of 1.44.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 29th. The aerospace company reported $4.24 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.28. General Dynamics had a return on equity of 17.43% and a net margin of 8.18%.The company had revenue of $14.09 billion during the quarter, compared to the consensus estimate of $13.52 billion. During the same period in the previous year, the firm posted $3.74 EPS. General Dynamics’s 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. On average, sell-side analysts predict that General Dynamics Corporation will post 16.97 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 9th will be paid a $1.59 dividend. This represents a $6.36 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, October 9th. General Dynamics’s dividend payout ratio is presently 38.80%.

Insider Activity at General Dynamics

In related news, Director Mark Malcolm sold 5,480 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the transaction, the director directly owned 10,643 shares in the company, valued at approximately $3,884,695. This represents a 33.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $19,728,885.44. Following the completion of the sale, the chief executive officer directly owned 766,457 shares in the company, valued at approximately $293,231,119.06. The trade was a 6.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 100,228 shares of company stock worth $38,052,853. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on GD shares. Citigroup upped their price target on shares of General Dynamics from $364.00 to $404.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. TD Cowen lifted their price objective on General Dynamics from $390.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Robert W. Baird set a $430.00 target price on General Dynamics in a research note on Thursday, July 30th. UBS Group increased their target price on General Dynamics from $366.00 to $395.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Finally, Weiss Ratings raised General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and a consensus price target of $410.89.

General Dynamics Company Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.