Public Employees Retirement System of Ohio Sells 9,710 Shares of General Dynamics Corporation $GD

Public Employees Retirement System of Ohio lessened its stake in General Dynamics Corporation (NYSE:GD) by 8.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 104,041 shares of the aerospace company’s stock after selling 9,710 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in General Dynamics were worth $30,345,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GD. Rialto Wealth Management LLC boosted its holdings in General Dynamics by 213.8% during the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 62 shares during the last quarter. Inlight Wealth Management LLC acquired a new stake in shares of General Dynamics during the 1st quarter worth about $26,000. Copia Wealth Management acquired a new stake in shares of General Dynamics during the 4th quarter worth about $27,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of General Dynamics during the 1st quarter worth about $27,000. Finally, Heck Capital Advisors LLC bought a new position in General Dynamics during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Performance

NYSE GD opened at $323.59 on Thursday. General Dynamics Corporation has a 1 year low of $239.20 and a 1 year high of $330.18. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. The firm has a market cap of $87.04 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 1.98 and a beta of 0.50. The company has a fifty day moving average price of $317.63 and a 200-day moving average price of $290.67.

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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics’s dividend payout ratio is presently 40.27%.

Insiders Place Their Bets

In other news, VP William A. Moss sold 17,700 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $316.40, for a total value of $5,600,280.00. Following the transaction, the vice president owned 16,627 shares in the company, valued at approximately $5,260,782.80. This trade represents a 51.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Phebe N. Novakovic sold 129,090 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly 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 sold a total of 275,020 shares of company stock valued at $86,414,503 over the last three months. Corporate insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Susquehanna raised their target price 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. Sanford C. Bernstein set a $314.00 price target on shares of General Dynamics and gave the company a “market perform” rating in a research note on Monday, July 14th. JPMorgan Chase & Co. boosted their target price on shares of General Dynamics from $284.00 to $345.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. UBS Group boosted their target price on shares of General Dynamics from $309.00 to $333.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, Robert W. Baird boosted their price target on shares of General Dynamics from $283.00 to $350.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, General Dynamics currently has an average rating of “Hold” and an average target price of $315.78.

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.