Teacher Retirement System of Texas Acquires 45,686 Shares of General Dynamics Corporation $GD

Teacher Retirement System of Texas grew its holdings in General Dynamics Corporation (NYSE:GD) by 35.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 175,660 shares of the aerospace company’s stock after acquiring an additional 45,686 shares during the period. Teacher Retirement System of Texas’ holdings in General Dynamics were worth $59,900,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Halbert Hargrove Global Advisors LLC bought a new position in General Dynamics during the third quarter valued at about $26,000. Louisbourg Investments Inc. acquired a new position in shares of General Dynamics during the 3rd quarter valued at about $27,000. Vermillion & White Wealth Management Group LLC raised its stake in shares of General Dynamics by 80.3% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 110 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 49 shares in the last quarter. NewSquare Capital LLC grew its holdings in General Dynamics by 64.7% during the second quarter. NewSquare Capital LLC now owns 112 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 44 shares during the last quarter. Finally, Financial Consulate Inc. bought a new position in shares of General Dynamics in the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other General Dynamics news, VP David Paddock sold 20,360 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $334.92, for a total transaction of $6,818,971.20. Following the sale, the vice president owned 36,644 shares of the company’s stock, valued at $12,272,808.48. This represents a 35.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.50% of the company’s stock.

General Dynamics Trading Up 0.2%

GD stock opened at $365.62 on Friday. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $369.70. The company has a current ratio of 1.40, a quick ratio of 0.87 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $345.75 and its 200-day moving average is $332.32. The firm has a market cap of $98.76 billion, a P/E ratio of 23.70, a P/E/G ratio of 1.62 and a beta of 0.41.

General Dynamics (NYSE:GD) last issued its earnings results on Friday, October 24th. The aerospace company reported $3.88 EPS for the quarter, beating the consensus estimate of $3.69 by $0.19. The company had revenue of $12.91 billion for the quarter, compared to the consensus estimate of $12.49 billion. General Dynamics had a net margin of 8.18% and a return on equity of 18.27%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.35 EPS. Equities analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

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 $1.50 dividend. The ex-dividend date of this dividend is Friday, January 16th. This represents a $6.00 dividend on an annualized basis and a yield of 1.6%. General Dynamics’s payout ratio is currently 38.89%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Melius Research raised General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 28th. JPMorgan Chase & Co. raised their target price on General Dynamics from $380.00 to $385.00 and gave the company an “overweight” rating in a report on Friday, December 19th. Bank of America increased their price objective on General Dynamics from $370.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Robert W. Baird set a $390.00 target price on shares of General Dynamics in a research report on Monday, October 27th. Finally, Wolfe Research increased their price target on shares of General Dynamics from $400.00 to $415.00 and gave the company an “outperform” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus target price of $366.70.

General Dynamics 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.