1ST Source Bank Purchases Shares of 7,355 General Dynamics Corporation $GD

Key Points

• 1ST Source Bank purchased 7,355 General Dynamics shares in the second quarter, valued at approximately $2.6 million. Institutional investors collectively own 86.14% of the company.
• General Dynamics reported quarterly EPS of $4.24, beating estimates of $3.96, while revenue rose 8.1% year over year to $14.09 billion. The company also declared a quarterly dividend of $1.59 per share, representing a 1.6% yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $410.89, while insiders sold more than 100,000 shares worth approximately $38.1 million over the past quarter.

1ST Source Bank purchased a new position in General Dynamics Corporation (NYSE:GD - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,355 shares of the aerospace company's stock, valued at approximately $2,605,000.

Several other institutional investors have also recently modified their holdings of GD. Whipplewood Advisors LLC increased its holdings in shares of General Dynamics by 1,725.0% in the first quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company's stock worth $25,000 after buying an additional 69 shares during the period. Scarborough Advisors LLC bought a new stake in General Dynamics in the first quarter valued at approximately $29,000. Wilkerson Advisory Group LLC boosted its stake in shares of General Dynamics by 79.6% during the first quarter. Wilkerson Advisory Group LLC now owns 88 shares of the aerospace company's stock valued at $30,000 after purchasing an additional 39 shares during the period. Center for Financial Planning Inc. raised its holdings in General Dynamics by 220.7% during the 4th quarter. Center for Financial Planning Inc. now owns 93 shares of the aerospace company's stock valued at $31,000 after buying an additional 64 shares during the last quarter. Finally, Motiv8 Investments LLC bought a new stake in General Dynamics during the 4th quarter valued at $31,000. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Trading Down 0.1%

NYSE GD opened at $395.46 on Monday. General Dynamics Corporation has a 12 month low of $306.77 and a 12 month high of $400.00. The company has a current ratio of 1.44, a quick ratio of 0.96 and a debt-to-equity ratio of 0.23. The stock's fifty day moving average price is $370.17 and its 200-day moving average price is $354.64. The stock has a market cap of $106.99 billion, a P/E ratio of 24.13, a P/E/G ratio of 2.29 and a beta of 0.32.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The aerospace company reported $4.24 EPS for the quarter, beating the consensus estimate of $3.96 by $0.28. General Dynamics had a net margin of 8.18% and a return on equity of 17.43%. The company had revenue of $14.09 billion for the quarter, compared to the consensus estimate of $13.52 billion. During the same period in the prior year, the firm posted $3.74 EPS. General Dynamics's revenue for the quarter was up 8.1% on a year-over-year basis. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. As a group, equities analysts forecast that General Dynamics Corporation will post 16.97 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 9th will be paid a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, October 9th. General Dynamics's payout ratio is currently 38.80%.

Insider Buying and Selling

In other news, Director Mark Malcolm sold 5,480 shares of the firm's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $365.00, for a total value of $2,000,200.00. Following the transaction, the director owned 10,643 shares of the company's stock, valued at $3,884,695. This trade represents a 33.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 43,180 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $378.04, for a total transaction of $16,323,767.20. Following the completion of the sale, the executive vice president directly owned 44,767 shares of the company's stock, valued at approximately $16,923,716.68. This trade represents a 49.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 100,228 shares of company stock valued at $38,052,853. 1.40% of the stock is owned by insiders.

Analysts Set New Price Targets

GD has been the topic of a number of research analyst reports. Citigroup boosted their price target on General Dynamics from $364.00 to $404.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. Wells Fargo & Company raised their target price on shares of General Dynamics from $400.00 to $440.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Wall Street Zen downgraded shares of General Dynamics from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. The Goldman Sachs Group lowered their price objective on shares of General Dynamics from $327.00 to $313.00 and set a "sell" rating for the company in a report on Monday, May 4th. Finally, Weiss Ratings raised General Dynamics from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, General Dynamics presently has a consensus rating of "Moderate Buy" and an average price target of $410.89.

General Dynamics Company 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.

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