Teacher Retirement System of Texas Buys 33,773 Shares of General Dynamics Corporation $GD

Teacher Retirement System of Texas increased its stake in shares of General Dynamics Corporation (NYSE:GD) by 35.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,974 shares of the aerospace company’s stock after acquiring an additional 33,773 shares during the quarter. Teacher Retirement System of Texas’ holdings in General Dynamics were worth $37,908,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Wealth Management Investment Advisory Inc. boosted its stake in General Dynamics by 11.5% during 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 acquiring an additional 1,704 shares in the last quarter. Pinnacle Financial Partners Inc lifted its stake in shares of General Dynamics by 1.5% in the first quarter. Pinnacle Financial Partners Inc now owns 63,228 shares of the aerospace company’s stock valued at $16,741,000 after buying an additional 915 shares in the last quarter. Marks Group Wealth Management Inc lifted its stake in shares of 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 valued at $8,619,000 after buying an additional 4,836 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its stake in shares of 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 valued at $1,526,000 after buying an additional 1,333 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of 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 valued at $126,454,000 after buying an additional 43,885 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Performance

Shares of GD stock opened at $353.55 on Tuesday. The firm has a 50-day moving average of $330.30 and a 200-day moving average of $302.83. The company has a market cap of $95.10 billion, a P/E ratio of 22.91, a P/E/G ratio of 2.15 and a beta of 0.47. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.40 and a quick ratio of 0.87. General Dynamics Corporation has a one year low of $239.20 and a one year high of $360.50.

General Dynamics (NYSE:GD) last announced 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 the consensus estimate of $12.49 billion. General Dynamics had a net margin of 8.18% and a return on equity of 18.27%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. 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. Equities research analysts forecast 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 issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, October 10th. General Dynamics’s dividend payout ratio (DPR) is 40.27%.

Insider Buying and Selling at General Dynamics

In related news, Director Mark Malcolm sold 3,220 shares of the firm’s stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $329.45, for a total transaction of $1,060,829.00. Following the completion of the sale, the director owned 10,186 shares in the company, valued at approximately $3,355,777.70. This trade represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Phebe N. Novakovic sold 129,090 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the transaction, the chief executive officer owned 769,607 shares of the company’s stock, valued at $241,325,666.99. This represents a 14.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 193,110 shares of company stock valued at $60,778,364 in the last three months. 1.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on GD. The Goldman Sachs Group raised their price objective on shares of General Dynamics from $280.00 to $293.00 and gave the company a “sell” rating in a research note on Friday, October 10th. Wolfe Research raised their price objective on shares of General Dynamics from $360.00 to $400.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Citigroup raised their price objective on shares of General Dynamics from $348.00 to $368.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $400.00 price objective on shares of General Dynamics in a research note on Wednesday, October 8th. Finally, Barclays raised their price objective on shares of General Dynamics from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $342.11.

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.