Engineers Gate Manager LP Grows Stake in General Dynamics Corporation $GD

Engineers Gate Manager LP raised its position in shares of General Dynamics Corporation (NYSE:GD) by 19.6% in the second quarter, Holdings Channel reports. The firm owned 63,530 shares of the aerospace company’s stock after acquiring an additional 10,399 shares during the quarter. Engineers Gate Manager LP’s holdings in General Dynamics were worth $22,505,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. California State Teachers Retirement System raised its position in General Dynamics by 35,603.0% in the 2nd quarter. California State Teachers Retirement System now owns 126,417,629 shares of the aerospace company’s stock worth $44,782,181,000 after buying an additional 126,063,548 shares during the last quarter. BlackRock Inc. bought a new stake in General Dynamics during the second quarter valued at approximately $6,840,590,000. State Street Corp increased its holdings in General Dynamics by 2.7% during the fourth quarter. State Street Corp now owns 11,323,170 shares of the aerospace company’s stock valued at $3,812,058,000 after buying an additional 294,456 shares during the last quarter. Bank of America Corp DE purchased a new stake in General Dynamics during the second quarter valued at approximately $2,603,527,000. Finally, Geode Capital Management LLC raised its position in General Dynamics by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 6,065,462 shares of the aerospace company’s stock worth $2,039,742,000 after acquiring an additional 195,604 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

GD has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Jefferies Financial Group increased their price target on General Dynamics from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. UBS Group raised their target price on shares of General Dynamics from $395.00 to $408.00 and gave the company a “neutral” rating in a research note on Tuesday. Royal Bank Of Canada raised their target price on shares of General Dynamics from $385.00 to $410.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $421.00 price objective on shares of General Dynamics in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $411.58.

Insider Transactions at General Dynamics

In other news, CEO Phebe Novakovic sold 51,568 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $382.58, for a total transaction of $19,728,885.44. Following the transaction, the chief executive officer owned 766,457 shares in the company, valued at $293,231,119.06. This represents a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Marguerite Gilliland sold 43,180 shares of General Dynamics stock in a transaction on Friday, July 31st. The stock was sold at an average price of $378.04, for a total transaction of $16,323,767.20. Following the sale, the executive vice president owned 44,767 shares of the company’s stock, valued at $16,923,716.68. The trade was a 49.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 100,228 shares of company stock worth $38,052,853. Insiders own 1.40% of the company’s stock.

General Dynamics Stock Down 1.1%

NYSE:GD opened at $352.78 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.44 and a quick ratio of 0.96. General Dynamics Corporation has a 1-year low of $306.77 and a 1-year high of $400.00. The company has a 50-day moving average of $378.56 and a 200 day moving average of $357.52. The firm has a market cap of $95.45 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 2.06 and a beta of 0.32.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 29th. The aerospace company reported $4.24 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.28. The firm had revenue of $14.09 billion during the quarter, compared to analysts’ expectations of $13.52 billion. General Dynamics had a net margin of 8.18% and a return on equity of 17.43%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.74 EPS. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. As a group, research analysts anticipate that General Dynamics Corporation will post 16.99 EPS for the current fiscal year.

General Dynamics Dividend Announcement

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 dividend of $1.59 per share. This represents a $6.36 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, October 9th. General Dynamics’s payout ratio is 38.80%.

About General Dynamics

General Dynamics Corporation (NYSE:GD) is an aerospace and defense company that develops and delivers products and services for government and commercial customers. Its operations are organized across four principal business areas: Aerospace, Marine Systems, Combat Systems and Technologies.

Through its Aerospace business, General Dynamics manufactures Gulfstream business jets and provides aircraft maintenance, repair and refurbishment services. Its Marine Systems businesses design and build nuclear-powered submarines and surface ships, while Combat Systems produces military vehicles, weapons systems and munitions.