Sumitomo Mitsui Trust Group Inc. Increases Stake in General Dynamics Corporation $GD

Sumitomo Mitsui Trust Group Inc. boosted its stake in General Dynamics Corporation (NYSE:GD) by 3.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 612,450 shares of the aerospace company’s stock after buying an additional 20,820 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of General Dynamics worth $178,627,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Global Wealth Management Investment Advisory Inc. grew its stake in General Dynamics by 11.5% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 16,522 shares of the aerospace company’s stock worth $4,504,000 after purchasing an additional 1,704 shares during the period. Pinnacle Financial Partners Inc raised its holdings in General Dynamics by 1.5% in the first quarter. Pinnacle Financial Partners Inc now owns 63,228 shares of the aerospace company’s stock worth $16,741,000 after purchasing an additional 915 shares in the last quarter. Marks Group Wealth Management Inc raised its holdings in General Dynamics by 18.1% in the first quarter. Marks Group Wealth Management Inc now owns 31,620 shares of the aerospace company’s stock worth $8,619,000 after purchasing an additional 4,836 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in General Dynamics by 31.3% in the first quarter. Mesirow Financial Investment Management Inc. now owns 5,598 shares of the aerospace company’s stock worth $1,526,000 after purchasing an additional 1,333 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in General Dynamics by 10.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 463,917 shares of the aerospace company’s stock worth $126,454,000 after purchasing an additional 43,885 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mark Lagrand Burns sold 43,860 shares of General Dynamics stock in a transaction dated 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 transaction, the executive vice president directly owned 39,875 shares of the company’s stock, valued at $12,452,165. The trade was a 52.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher J. Brady sold 8,150 shares of General Dynamics stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $321.18, for a total value of $2,617,617.00. Following the transaction, the vice president directly owned 22,818 shares in the company, valued at approximately $7,328,685.24. The trade was a 26.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 242,460 shares of company stock valued at $76,192,291. 1.50% of the stock is currently owned by company insiders.

General Dynamics Price Performance

NYSE GD opened at $350.22 on Friday. General Dynamics Corporation has a one year low of $239.20 and a one year high of $360.50. The stock has a 50-day moving average of $329.49 and a 200 day moving average of $301.72. The company has a market capitalization of $94.20 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 2.10 and a beta of 0.47. 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 released its quarterly earnings data on Friday, October 24th. The aerospace company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.69 by $0.19. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The company had revenue of $12.91 billion during the quarter, compared to the consensus estimate of $12.49 billion. During the same period last year, the company earned $3.35 EPS. General Dynamics’s revenue for the quarter was up 10.6% on a year-over-year basis. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. On average, sell-side analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded General Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of General Dynamics in a report on Wednesday, October 8th. 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 report on Thursday, July 24th. Seaport Res Ptn upgraded General Dynamics from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $400.00 price target on shares of General Dynamics in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, General Dynamics currently 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.