General Dynamics Co. (NYSE:GD) Position Increased by Truist Financial Corp

Truist Financial Corp lifted its holdings in General Dynamics Co. (NYSE:GD) by 0.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 306,883 shares of the aerospace company’s stock after buying an additional 398 shares during the quarter. Truist Financial Corp owned approximately 0.11% of General Dynamics worth $89,039,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of GD. Redmont Wealth Advisors LLC bought a new position in General Dynamics in the first quarter worth about $25,000. Richardson Financial Services Inc. bought a new stake in shares of General Dynamics in the 4th quarter worth approximately $25,000. American Capital Advisory LLC acquired a new position in General Dynamics during the 2nd quarter valued at approximately $29,000. Financial Synergies Wealth Advisors Inc. bought a new position in General Dynamics during the 1st quarter worth $29,000. Finally, New Covenant Trust Company N.A. acquired a new stake in General Dynamics in the first quarter worth $29,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.52% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GD shares. Robert W. Baird reissued an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research report on Thursday, July 25th. BTIG Research began coverage on General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target on the stock. Wells Fargo & Company cut General Dynamics from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $334.00 to $317.00 in a research report on Tuesday. Finally, Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $317.41.

General Dynamics Price Performance

Shares of NYSE GD opened at $305.32 on Wednesday. The firm has a 50-day moving average of $296.51 and a two-hundred day moving average of $292.64. The company has a market capitalization of $83.77 billion, a price-to-earnings ratio of 24.90, a PEG ratio of 1.68 and a beta of 0.61. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. General Dynamics Co. has a twelve month low of $214.53 and a twelve month high of $309.97.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). The business had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.70 earnings per share. As a group, analysts expect that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

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.