Bank of Nova Scotia Purchases 137,834 Shares of General Dynamics Corporation $GD

Key Points

• Bank of Nova Scotia increased its General Dynamics stake by 55.9% in the first quarter, buying 137,834 additional shares and bringing its total holding to 384,498 shares worth about $132 million.
• General Dynamics reported a stronger-than-expected quarterly result, posting $4.10 EPS versus the $3.67 estimate and revenue of $13.48 billion, up 10.3% year over year.
• Analyst sentiment remains mostly positive despite some target cuts, with a consensus rating of Moderate Buy and an average price target of $391.15; the company also announced a quarterly dividend of $1.59 per share.

Bank of Nova Scotia increased its position in General Dynamics Corporation (NYSE:GD - Free Report) by 55.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 384,498 shares of the aerospace company's stock after acquiring an additional 137,834 shares during the period. Bank of Nova Scotia owned about 0.14% of General Dynamics worth $131,967,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC lifted its position 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 in the last quarter. Steph & Co. lifted its position in shares of General Dynamics by 65.2% during the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company's stock worth $26,000 after purchasing an additional 30 shares during the last quarter. Scarborough Advisors LLC bought a new position in General Dynamics in the first quarter worth approximately $29,000. Wilkerson Advisory Group LLC increased 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 buying an additional 39 shares during the period. Finally, Motiv8 Investments LLC bought a new position in General Dynamics during the 4th quarter worth about $31,000. 86.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Citigroup lowered their price objective on General Dynamics from $380.00 to $364.00 and set a "neutral" rating for the company in a research report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reduced their price target on General Dynamics from $387.00 to $377.00 and set a "hold" rating for the company in a research report on Wednesday, May 6th. Jefferies Financial Group upped their price target on shares of General Dynamics from $400.00 to $440.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Wells Fargo & Company initiated coverage on shares of General Dynamics in a research note on Wednesday, April 1st. They set an "overweight" rating and a $400.00 target price on the stock. Finally, Bank of America upped their target price on General Dynamics from $400.00 to $415.00 and gave the company a "buy" rating in a report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, General Dynamics presently has an average rating of "Moderate Buy" and a consensus price target of $391.15.

General Dynamics Price Performance

Shares of GD opened at $380.99 on Friday. General Dynamics Corporation has a twelve month low of $306.03 and a twelve month high of $387.69. The stock's 50 day moving average is $355.14 and its two-hundred day moving average is $351.52. The firm has a market capitalization of $103.03 billion, a PE ratio of 23.98, a P/E/G ratio of 2.25 and a beta of 0.34. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. During the same period in the previous year, the firm earned $3.66 EPS. The business's revenue was up 10.3% on a year-over-year basis. Research analysts anticipate that General Dynamics Corporation will post 16.66 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be paid a $1.59 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $6.36 dividend on an annualized basis and a yield of 1.7%. General Dynamics's dividend payout ratio is presently 40.03%.

Insiders Place Their Bets

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the company's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total value of $12,596,179.20. Following the sale, the executive vice president directly owned 38,975 shares in the company, valued at $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Malcolm sold 5,480 shares of the company's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the transaction, the director directly owned 10,643 shares in the company, valued at $3,884,695. The trade was a 33.99% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 78,190 shares of company stock worth $27,041,022. 1.40% of the stock is owned by insiders.

Trending Headlines about General Dynamics

Here are the key news stories impacting General Dynamics this week:

• Positive Sentiment: General Dynamics hit a new 52-week high after reports highlighted an earnings beat, analyst upgrades, and a $209 million defense contract modification that reinforces its backlog and revenue visibility. General Dynamics (GD) Stock Surges to 52-Week Peak in July 2026
• Positive Sentiment: Investor sentiment is also being lifted by broad defense-sector strength, with peers posting strong earnings and raising guidance, which is boosting expectations for GD’s upcoming quarterly report. Why General Dynamics (GD) Stock Is Up Today
• Positive Sentiment: Analysts and valuation-focused coverage continue to frame GD as attractive, with articles calling it a top long-term value stock and comparing it favorably with other aerospace-defense names. Why General Dynamics (GD) is a Top Value Stock for the Long-Term

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.

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