Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in General Dynamics Corporation $GD

Sumitomo Mitsui Trust Group Inc. raised its stake in General Dynamics Corporation (NYSE:GD) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 616,302 shares of the aerospace company’s stock after purchasing an additional 3,852 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.23% of General Dynamics worth $210,159,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Pure Financial Advisors LLC increased its holdings in General Dynamics by 52.4% during the 2nd quarter. Pure Financial Advisors LLC now owns 9,181 shares of the aerospace company’s stock valued at $2,678,000 after acquiring an additional 3,156 shares in the last quarter. Truist Financial Corp lifted its stake in General Dynamics by 0.5% in the 2nd quarter. Truist Financial Corp now owns 286,456 shares of the aerospace company’s stock valued at $83,548,000 after buying an additional 1,370 shares in the last quarter. Davis Capital Management purchased a new position in General Dynamics during the third quarter worth $1,007,000. Los Angeles Capital Management LLC raised its holdings in shares of General Dynamics by 20.9% in the second quarter. Los Angeles Capital Management LLC now owns 299,137 shares of the aerospace company’s stock worth $87,246,000 after acquiring an additional 51,655 shares during the last quarter. Finally, Silver Coast Investments LLC purchased a new stake in shares of General Dynamics in the second quarter valued at $218,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Melius Research raised shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 28th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $400.00 price target on shares of General Dynamics in a report on Wednesday, October 8th. Bank of America upped their price objective on shares of General Dynamics from $370.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, October 28th. Argus lifted their target price on shares of General Dynamics from $345.00 to $380.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Finally, Morgan Stanley set a $385.00 price target on General Dynamics in a report on Monday, October 27th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $359.00.

Insider Activity

In other General Dynamics news, VP David Paddock sold 20,360 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $334.92, for a total transaction of $6,818,971.20. Following the transaction, the vice president owned 36,644 shares in the company, valued at $12,272,808.48. The trade was a 35.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by insiders.

General Dynamics Stock Up 2.0%

Shares of GD opened at $360.89 on Tuesday. The firm has a market cap of $97.48 billion, a PE ratio of 23.39, a price-to-earnings-growth ratio of 1.56 and a beta of 0.41. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.29. The company’s fifty day moving average is $342.70 and its two-hundred day moving average is $328.81. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $367.65.

General Dynamics (NYSE:GD) last issued its earnings results on Friday, October 24th. The aerospace company reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.19. The firm had revenue of $12.91 billion for the quarter, compared to analysts’ expectations of $12.49 billion. General Dynamics had a return on equity of 18.27% and a net margin of 8.18%.The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.35 earnings per share. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. Analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 16th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, January 16th. General Dynamics’s payout ratio is currently 38.89%.

General Dynamics Company Profile

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.