Texas Permanent School Fund Corp Sells 8,065 Shares of General Dynamics Corporation $GD

Texas Permanent School Fund Corp cut its position in shares of General Dynamics Corporation (NYSE:GD) by 25.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 23,391 shares of the aerospace company’s stock after selling 8,065 shares during the period. Texas Permanent School Fund Corp’s holdings in General Dynamics were worth $6,822,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of General Dynamics by 1.1% during the 2nd quarter. State Street Corp now owns 11,140,437 shares of the aerospace company’s stock valued at $3,249,220,000 after buying an additional 119,664 shares in the last quarter. Ameriprise Financial Inc. lifted its position in General Dynamics by 25.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,439,720 shares of the aerospace company’s stock valued at $1,003,444,000 after acquiring an additional 691,340 shares during the period. Invesco Ltd. boosted its stake in General Dynamics by 0.4% during the second quarter. Invesco Ltd. now owns 2,385,573 shares of the aerospace company’s stock worth $695,776,000 after acquiring an additional 9,283 shares in the last quarter. Franklin Resources Inc. grew its holdings in General Dynamics by 2.5% in the second quarter. Franklin Resources Inc. now owns 1,712,190 shares of the aerospace company’s stock worth $499,377,000 after purchasing an additional 41,349 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of General Dynamics by 1.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,598,847 shares of the aerospace company’s stock valued at $466,320,000 after purchasing an additional 16,459 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

Shares of NYSE:GD opened at $337.42 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.87 and a current ratio of 1.40. The firm has a market cap of $91.14 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 1.69 and a beta of 0.40. The business has a 50-day simple moving average of $340.87 and a two-hundred day simple moving average of $319.99. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $360.50.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Friday, October 24th. The aerospace company reported $3.88 EPS for the quarter, topping analysts’ consensus estimates of $3.69 by $0.19. General Dynamics had a net margin of 8.18% and a return on equity of 18.27%. The firm had revenue of $12.91 billion during the quarter, compared to analyst estimates of $12.49 billion. During the same period in the previous year, the business posted $3.35 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. On average, analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Friday, January 16th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, January 16th. General Dynamics’s dividend payout ratio (DPR) is 38.89%.

Analysts Set New Price Targets

GD has been the topic of a number of analyst reports. Melius Research raised General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 28th. Seaport Res Ptn raised General Dynamics from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. Susquehanna raised their price target on General Dynamics from $365.00 to $406.00 and gave the company a “positive” rating in a report on Monday, October 27th. Wolfe Research upped their price target 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. Finally, Robert W. Baird set a $390.00 price objective on shares of General Dynamics in a research report on Monday, October 27th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $358.25.

General Dynamics Company Profile

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.