Pzena Investment Management LLC Invests $38.46 Million in General Dynamics Corporation $GD

Pzena Investment Management LLC purchased a new stake in shares of General Dynamics Corporation (NYSE:GD) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 108,574 shares of the aerospace company’s stock, valued at approximately $38,461,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. Vanguard Group Inc. boosted its position in shares of General Dynamics by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock worth $8,338,169,000 after purchasing an additional 528,769 shares in the last quarter. M&T Bank Corp increased its position in General Dynamics by 155.6% during the 4th quarter. M&T Bank Corp now owns 104,773 shares of the aerospace company’s stock valued at $35,273,000 after buying an additional 63,781 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in General Dynamics during the fourth quarter valued at $7,914,000. Deutsche Bank AG raised its stake in General Dynamics by 12.2% during the fourth quarter. Deutsche Bank AG now owns 939,264 shares of the aerospace company’s stock valued at $316,213,000 after buying an additional 102,208 shares during the last quarter. Finally, Rayburn West Financial Services LLC bought a new stake in General Dynamics in the fourth quarter worth $2,387,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on General Dynamics from $385.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Wall Street Zen cut shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. The Goldman Sachs Group cut their price objective on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a research report on Monday, May 4th. Sanford C. Bernstein restated a “market perform” rating and set a $421.00 price objective on shares of General Dynamics in a research note on Monday, August 10th. Finally, Jefferies Financial Group lifted their target price on shares of General Dynamics from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $410.89.

General Dynamics Stock Down 1.3%

General Dynamics stock opened at $390.67 on Tuesday. General Dynamics Corporation has a 12 month low of $306.77 and a 12 month high of $400.00. The stock has a fifty day simple moving average of $371.16 and a two-hundred day simple moving average of $354.81. The company has a current ratio of 1.44, a quick ratio of 0.96 and a debt-to-equity ratio of 0.23. The firm has a market cap of $105.70 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 2.29 and a beta of 0.33.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 29th. The aerospace company reported $4.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.28. General Dynamics had a return on equity of 17.43% and a net margin of 8.18%.The firm had revenue of $14.09 billion for the quarter, compared to the consensus estimate of $13.52 billion. During the same period in the prior year, the company posted $3.74 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. Equities analysts predict that General Dynamics Corporation will post 16.97 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 9th will be issued a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, October 9th. General Dynamics’s dividend payout ratio (DPR) is presently 38.80%.

Insider Activity

In related news, EVP Marguerite Amy Gilliland sold 43,180 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $378.04, for a total transaction of $16,323,767.20. Following the transaction, the executive vice president owned 44,767 shares in the company, valued at $16,923,716.68. This represents a 49.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Malcolm sold 5,480 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the sale, the director owned 10,643 shares in the company, valued at $3,884,695. This represents a 33.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 100,228 shares of company stock valued at $38,052,853 in the last 90 days. 1.40% of the stock is currently owned by insiders.

About General Dynamics

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.