Bank of America Corp DE Takes Position in General Dynamics Corporation $GD

Bank of America Corp DE bought a new position in General Dynamics Corporation (NYSE:GD - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,349,613 shares of the aerospace company's stock, valued at approximately $2,603,527,000. Bank of America Corp DE owned about 2.72% of General Dynamics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Oxford Financial Group LTD. LLC grew its holdings in shares of General Dynamics by 1.9% during the 2nd quarter. Oxford Financial Group LTD. LLC now owns 1,426 shares of the aerospace company's stock worth $505,000 after purchasing an additional 26 shares during the period. Willner & Heller LLC raised its stake in shares of General Dynamics by 1.4% in the 2nd quarter. Willner & Heller LLC now owns 2,050 shares of the aerospace company's stock valued at $726,000 after acquiring an additional 28 shares during the period. Meriwether Wealth & Planning LLC raised its stake in shares of General Dynamics by 0.8% in the 2nd quarter. Meriwether Wealth & Planning LLC now owns 3,443 shares of the aerospace company's stock valued at $1,220,000 after acquiring an additional 28 shares during the period. Klingman & Associates LLC lifted its holdings in shares of General Dynamics by 3.3% during the 1st quarter. Klingman & Associates LLC now owns 949 shares of the aerospace company's stock valued at $326,000 after acquiring an additional 30 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. boosted its position in General Dynamics by 16.7% during the 2nd quarter. Keating Financial Advisory Services Inc. now owns 217 shares of the aerospace company's stock worth $77,000 after purchasing an additional 31 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of GD opened at $356.74 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.44 and a quick ratio of 0.96. General Dynamics Corporation has a 12 month low of $306.77 and a 12 month high of $400.00. The stock has a fifty day moving average price of $377.43 and a 200 day moving average price of $357.64. The company has a market cap of $96.52 billion, a P/E ratio of 21.77, a PEG ratio of 2.05 and a beta of 0.32.

General Dynamics (NYSE:GD - Get Free Report) last posted its earnings results on Wednesday, July 29th. The aerospace company reported $4.24 EPS for the quarter, topping the consensus estimate of $3.96 by $0.28. The firm had revenue of $14.09 billion during the quarter, compared to analysts' expectations of $13.52 billion. General Dynamics had a net margin of 8.18% and a return on equity of 17.43%. General Dynamics's quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.74 EPS. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. On average, research analysts forecast that General Dynamics Corporation will post 16.99 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 9th will be issued a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, October 9th. General Dynamics's dividend payout ratio (DPR) is presently 38.80%.

Insider Buying and Selling at General Dynamics

In other news, CEO Phebe Novakovic sold 51,568 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $382.58, for a total transaction of $19,728,885.44. Following the completion of the sale, the chief executive officer owned 766,457 shares in the company, valued at approximately $293,231,119.06. This represents a 6.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark Malcolm sold 5,480 shares of the firm's stock in a transaction on 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 sale, the director directly owned 10,643 shares of the company's stock, valued at approximately $3,884,695. This represents a 33.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 100,228 shares of company stock valued at $38,052,853. Corporate insiders own 1.40% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on GD. Wall Street Zen lowered shares of General Dynamics from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Sanford C. Bernstein restated a "market perform" rating and set a $421.00 price objective on shares of General Dynamics in a report on Monday, August 10th. Citigroup upped their target price on General Dynamics from $364.00 to $404.00 and gave the company a "neutral" rating in a research report on Thursday, July 30th. TD Cowen raised their price objective on shares of General Dynamics from $390.00 to $420.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of General Dynamics from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $411.58.

General Dynamics Company Profile

General Dynamics Corporation NYSE: GD is an aerospace and defense company that develops and delivers products and services for government and commercial customers. Its operations are organized across four principal business areas: Aerospace, Marine Systems, Combat Systems and Technologies.

Through its Aerospace business, General Dynamics manufactures Gulfstream business jets and provides aircraft maintenance, repair and refurbishment services. Its Marine Systems businesses design and build nuclear-powered submarines and surface ships, while Combat Systems produces military vehicles, weapons systems and munitions.

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