TIAA Trust National Association Has $1.86 Million Stock Holdings in General Dynamics Corporation $GD

TIAA Trust National Association raised its holdings in shares of General Dynamics Corporation (NYSE:GD) by 2.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,392 shares of the aerospace company’s stock after buying an additional 149 shares during the period. TIAA Trust National Association’s holdings in General Dynamics were worth $1,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Versor Investments LP acquired a new stake in shares of General Dynamics during the 2nd quarter worth about $1,167,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in General Dynamics by 23.9% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 34,820 shares of the aerospace company’s stock worth $10,156,000 after acquiring an additional 6,717 shares during the last quarter. GHP Investment Advisors Inc. lifted its position in General Dynamics by 2.1% during the second quarter. GHP Investment Advisors Inc. now owns 23,732 shares of the aerospace company’s stock worth $6,922,000 after acquiring an additional 489 shares during the last quarter. Hills Bank & Trust Co grew its position in shares of General Dynamics by 1.7% in the second quarter. Hills Bank & Trust Co now owns 7,311 shares of the aerospace company’s stock valued at $2,132,000 after purchasing an additional 123 shares during the last quarter. Finally, Twin City Private Wealth LLC grew its position in shares of General Dynamics by 4.0% in the second quarter. Twin City Private Wealth LLC now owns 3,036 shares of the aerospace company’s stock valued at $885,000 after purchasing an additional 117 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 129,090 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $313.57, for a total value of $40,478,751.30. Following the sale, the chief executive officer owned 769,607 shares of the company’s stock, valued at approximately $241,325,666.99. This trade represents a 14.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark Malcolm sold 3,220 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $329.45, for a total value of $1,060,829.00. Following the transaction, the director directly owned 10,186 shares of the company’s stock, valued at $3,355,777.70. This trade represents a 24.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 193,110 shares of company stock worth $60,778,364. 1.50% of the stock is owned by insiders.

General Dynamics Stock Down 1.0%

GD stock opened at $341.46 on Tuesday. The company has a market cap of $92.23 billion, a PE ratio of 22.13, a price-to-earnings-growth ratio of 2.05 and a beta of 0.47. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.29. 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 $332.93 and a 200 day simple moving average of $305.41.

General Dynamics (NYSE:GD) last issued its earnings results on Friday, October 24th. The aerospace company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.69 by $0.19. The company had revenue of $12.91 billion during the quarter, compared to analysts’ expectations of $12.49 billion. General Dynamics had a net margin of 8.18% and a return on equity of 18.27%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.35 EPS. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. Sell-side analysts anticipate that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company 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 dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, October 10th. General Dynamics’s payout ratio is currently 38.89%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GD shares. Morgan Stanley set a $385.00 price target on General Dynamics in a report on Monday, October 27th. Jefferies Financial Group set a $325.00 target price on General Dynamics and gave the stock a “hold” rating in a report on Wednesday, July 9th. Sanford C. Bernstein upped their price target on shares of General Dynamics from $335.00 to $388.00 and gave the company a “market perform” rating in a research note on Tuesday, October 28th. Citigroup lifted their price objective on shares of General Dynamics from $348.00 to $368.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Wolfe Research increased their target price on shares of General Dynamics from $360.00 to $400.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $350.89.

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.