Louisiana State Employees Retirement System Sells 300 Shares of General Dynamics Corporation $GD

Louisiana State Employees Retirement System lowered its stake in General Dynamics Corporation (NYSE:GD) by 2.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,300 shares of the aerospace company’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in General Dynamics were worth $3,879,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Inlight Wealth Management LLC bought a new position in shares of General Dynamics in the first quarter worth about $26,000. Smallwood Wealth Investment Management LLC bought a new position in shares of General Dynamics in the first quarter worth about $27,000. Quarry LP lifted its holdings in shares of General Dynamics by 783.3% in the first quarter. Quarry LP now owns 106 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 94 shares during the last quarter. Abound Financial LLC bought a new position in shares of General Dynamics in the first quarter worth about $32,000. Finally, Nova Wealth Management Inc. bought a new position in shares of General Dynamics in the first quarter worth about $33,000. Institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mark Lagrand Burns sold 43,860 shares of the company’s stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $312.28, for a total value of $13,696,600.80. Following the transaction, the executive vice president directly owned 39,875 shares in the company, valued at approximately $12,452,165. This represents a 52.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 45,192 shares in the company, valued at $14,244,518.40. The trade was a 42.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,020 shares of company stock valued at $86,414,503 in the last 90 days. 1.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GD. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $400.00 price objective on shares of General Dynamics in a report on Wednesday. Susquehanna raised their price objective on shares of General Dynamics from $315.00 to $365.00 and gave the company a “positive” rating in a report on Thursday, July 24th. Robert W. Baird raised their price objective on shares of General Dynamics from $283.00 to $350.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of General Dynamics from $284.00 to $345.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, Cowen restated a “buy” rating on shares of General Dynamics in a report on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $319.00.

General Dynamics Stock Performance

NYSE GD opened at $346.45 on Thursday. The firm has a market cap of $93.19 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 2.10 and a beta of 0.47. The company has a fifty day moving average price of $323.85 and a 200-day moving average price of $295.77. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $347.37.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.27. The company had revenue of $13.04 billion during the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, equities research analysts predict that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

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