State Board of Administration of Florida Retirement System Has $70.88 Million Holdings in General Dynamics Corporation $GD

by · The Cerbat Gem

State Board of Administration of Florida Retirement System raised its stake in shares of General Dynamics Corporation (NYSE:GD – Free Report) by 0.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 243,030 shares of the aerospace company’s stock after purchasing an additional 1,627 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.09% of General Dynamics worth $70,882,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in General Dynamics by 4.9% during the first quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company’s stock worth $1,499,819,000 after buying an additional 256,687 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of General Dynamics by 34.8% in the 1st quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company’s stock worth $749,252,000 after acquiring an additional 709,782 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of General Dynamics by 2.5% in the 2nd quarter. Franklin Resources Inc. now owns 1,712,190 shares of the aerospace company’s stock worth $499,377,000 after acquiring an additional 41,349 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of General Dynamics by 1.0% in 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 during the last quarter. Finally, Boston Partners lifted its position in shares of General Dynamics by 9.2% during the second quarter. Boston Partners now owns 1,416,262 shares of the aerospace company’s stock valued at $414,757,000 after purchasing an additional 119,765 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other General Dynamics news, Director Mark Malcolm sold 3,220 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $329.45, for a total value of $1,060,829.00. Following the completion of the transaction, the director owned 10,186 shares in the company, valued at $3,355,777.70. This trade represents a 24.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

General Dynamics Stock Performance

NYSE GD opened at $340.32 on Friday. The firm has a market cap of $91.93 billion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 2.05 and a beta of 0.46. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average is $339.71 and its 200-day moving average is $313.87. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $360.50.

General Dynamics (NYSE:GD – Get Free Report) last released its quarterly earnings data on Friday, October 24th. The aerospace company reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.19. The business had revenue of $12.91 billion during the quarter, compared to analyst estimates of $12.49 billion. General Dynamics had a net margin of 8.18% and a return on equity of 18.27%. General Dynamics’s revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.35 EPS. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. Sell-side analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current year.

Analysts Set New Price Targets

GD has been the subject of several analyst reports. Argus increased their price objective on shares of General Dynamics from $345.00 to $380.00 and gave the company a “buy” rating in a research note on Wednesday, November 19th. BNP Paribas Exane assumed coverage on General Dynamics in a report on Tuesday, November 18th. They issued an “outperform” rating and a $410.00 target price for the company. Robert W. Baird set a $390.00 price target on General Dynamics in a report on Monday, October 27th. Wolfe Research upped their price objective on General Dynamics from $360.00 to $400.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Finally, Bank of America lifted their target price on General Dynamics from $370.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus target price of $358.10.

Read Our Latest Research Report on GD

General Dynamics Company Profile

(Free Report)

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.

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