State of New Jersey Common Pension Fund D Sells 1,824 Shares of General Dynamics Corporation $GD

State of New Jersey Common Pension Fund D decreased its position in General Dynamics Corporation (NYSE:GD) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,059 shares of the aerospace company’s stock after selling 1,824 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in General Dynamics were worth $22,183,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Global Wealth Management Investment Advisory Inc. boosted its holdings in General Dynamics by 11.5% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 16,522 shares of the aerospace company’s stock valued at $4,504,000 after purchasing an additional 1,704 shares during the period. Pinnacle Financial Partners Inc grew its stake in shares of General Dynamics by 1.5% in the 1st quarter. Pinnacle Financial Partners Inc now owns 63,228 shares of the aerospace company’s stock valued at $16,741,000 after purchasing an additional 915 shares during the period. Marks Group Wealth Management Inc grew its position in General Dynamics by 18.1% in the first quarter. Marks Group Wealth Management Inc now owns 31,620 shares of the aerospace company’s stock valued at $8,619,000 after acquiring an additional 4,836 shares during the period. Mesirow Financial Investment Management Inc. increased its position in shares of General Dynamics by 31.3% during the 1st quarter. Mesirow Financial Investment Management Inc. now owns 5,598 shares of the aerospace company’s stock worth $1,526,000 after purchasing an additional 1,333 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of General Dynamics by 10.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 463,917 shares of the aerospace company’s stock worth $126,454,000 after buying an additional 43,885 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Insider Transactions at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 8,150 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $321.18, for a total transaction of $2,617,617.00. Following the transaction, the vice president owned 22,818 shares in the company, valued at $7,328,685.24. This trade represents a 26.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP William A. Moss sold 17,700 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the completion of the transaction, the vice president owned 16,627 shares in the company, valued at $5,260,782.80. This trade represents a 51.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 242,460 shares of company stock worth $76,192,291. 1.50% of the stock is currently owned by company insiders.

General Dynamics Stock Performance

Shares of GD stock opened at $350.22 on Friday. General Dynamics Corporation has a one year low of $239.20 and a one year high of $360.50. 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 stock has a market cap of $94.20 billion, a P/E ratio of 22.70, a P/E/G ratio of 2.16 and a beta of 0.47. The company has a fifty day moving average price of $329.49 and a two-hundred day moving average price of $302.06.

General Dynamics (NYSE:GD) last issued its earnings results on Friday, October 24th. The aerospace company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.69 by $0.19. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The company had revenue of $12.91 billion during the quarter, compared to the consensus estimate of $12.49 billion. During the same period in the previous year, the company posted $3.35 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. As a group, equities analysts predict that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, October 10th. This represents a $6.00 annualized dividend and a yield of 1.7%. General Dynamics’s dividend payout ratio (DPR) is 40.27%.

Analyst Ratings Changes

A number of research analysts recently issued reports on GD shares. Jefferies Financial Group set a $325.00 price target on General Dynamics and gave the company a “hold” rating in a report on Wednesday, July 9th. Barclays increased their price target on General Dynamics from $285.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, July 29th. Wolfe Research lifted their price objective on shares of General Dynamics from $360.00 to $400.00 and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Wall Street Zen raised General Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Finally, Morgan Stanley upped their price target on shares of General Dynamics from $328.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $327.44.

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.