QRG Capital Management Inc. Buys 2,962 Shares of General Dynamics Corporation $GD

QRG Capital Management Inc. boosted its stake in shares of General Dynamics Corporation (NYSE:GD) by 4.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,370 shares of the aerospace company’s stock after acquiring an additional 2,962 shares during the period. QRG Capital Management Inc.’s holdings in General Dynamics were worth $23,511,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of General Dynamics during the second quarter valued at about $6,840,590,000. State Street Corp lifted its position in shares of General Dynamics by 3.3% in the second quarter. State Street Corp now owns 11,811,099 shares of the aerospace company’s stock worth $4,183,964,000 after buying an additional 374,682 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of General Dynamics in the second quarter worth about $2,603,527,000. Geode Capital Management LLC boosted its stake in General Dynamics by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 6,065,462 shares of the aerospace company’s stock valued at $2,039,742,000 after buying an additional 195,604 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in General Dynamics by 2.2% during the 4th quarter. JPMorgan Chase & Co. now owns 5,307,389 shares of the aerospace company’s stock valued at $1,786,786,000 after buying an additional 114,647 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wall Street Zen downgraded General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings raised shares of General Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $384.00 price target on shares of General Dynamics in a research report on Thursday, July 30th. Citigroup upped their price target on shares of General Dynamics from $364.00 to $404.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Finally, TD Cowen increased their price objective on shares of General Dynamics from $390.00 to $420.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $410.84.

Insider Buying and Selling

In related news, EVP Marguerite Gilliland sold 43,180 shares of the business’s 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 completion of the transaction, the executive vice president owned 44,767 shares in the company, valued at $16,923,716.68. The trade was a 49.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Phebe N. Novakovic sold 51,568 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $382.58, for a total value of $19,728,885.44. Following the completion of the transaction, the chief executive officer directly owned 766,457 shares in the company, valued at $293,231,119.06. This trade represents a 6.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.40% of the company’s stock.

General Dynamics Trading Down 0.1%

GD stock traded down $0.19 during midday trading on Wednesday, reaching $343.20. 1,085,200 shares of the company traded hands, compared to its average volume of 1,288,862. The firm has a market capitalization of $92.86 billion, a price-to-earnings ratio of 20.94, a P/E/G ratio of 2.04 and a beta of 0.32. General Dynamics Corporation has a 52-week low of $306.77 and a 52-week high of $400.00. The business has a 50 day moving average of $375.16 and a 200-day moving average of $357.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.96 and a current ratio of 1.44.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 29th. The aerospace company reported $4.24 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $13.52 billion. During the same quarter in the previous year, the business earned $3.74 EPS. 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. As a group, sell-side analysts expect that General Dynamics Corporation will post 16.99 earnings per share 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. Shareholders of record on Friday, October 9th will be given a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, October 9th. General Dynamics’s payout ratio is 38.80%.

General Dynamics Profile

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.