Citizens Financial Group Inc. RI Makes New $2.77 Million Investment in General Dynamics Corporation $GD

Key Points

• Citizens Financial Group initiated a $2.77 million position in General Dynamics during the second quarter by purchasing 7,832 shares. Institutional investors collectively own 86.14% of GD’s outstanding stock.
• General Dynamics reported stronger-than-expected quarterly results, with $4.24 in EPS and $14.09 billion in revenue; revenue increased 8.1% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $410.89.
• The company declared a quarterly dividend of $1.59 per share, equivalent to a $6.36 annualized payout and a 1.6% yield. Meanwhile, insiders sold more than 100,000 shares worth approximately $38.1 million over the last quarter.

Citizens Financial Group Inc. RI bought a new stake in General Dynamics Corporation (NYSE:GD - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,832 shares of the aerospace company's stock, valued at approximately $2,774,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GD. Willner & Heller LLC increased its holdings in General Dynamics by 1.4% in the 2nd quarter. Willner & Heller LLC now owns 2,050 shares of the aerospace company's stock worth $726,000 after acquiring an additional 28 shares during the last quarter. Meriwether Wealth & Planning LLC lifted its holdings in General Dynamics by 0.8% during the second quarter. Meriwether Wealth & Planning LLC now owns 3,443 shares of the aerospace company's stock valued at $1,220,000 after purchasing an additional 28 shares during the last quarter. Klingman & Associates LLC lifted its holdings in General Dynamics by 3.3% during the first quarter. Klingman & Associates LLC now owns 949 shares of the aerospace company's stock valued at $326,000 after purchasing an additional 30 shares during the last quarter. Valmark Advisers Inc. boosted its position in General Dynamics by 0.5% during the first quarter. Valmark Advisers Inc. now owns 7,010 shares of the aerospace company's stock worth $2,406,000 after purchasing an additional 32 shares during the period. Finally, Courier Capital LLC increased its stake in shares of General Dynamics by 0.5% in the fourth quarter. Courier Capital LLC now owns 6,407 shares of the aerospace company's stock worth $2,157,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 86.14% of the company's stock.

General Dynamics Trading Down 1.3%

Shares of General Dynamics stock opened at $390.67 on Tuesday. The company's 50-day moving average price is $371.16 and its 200-day moving average price is $354.81. The company has a current ratio of 1.44, a quick ratio of 0.96 and a debt-to-equity ratio of 0.23. General Dynamics Corporation has a 12-month low of $306.77 and a 12-month high of $400.00. The company has a market cap of $105.70 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 2.29 and a beta of 0.32.

General Dynamics (NYSE:GD - Get Free Report) last issued 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. The company 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 revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.74 earnings per share. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. On average, equities analysts expect that General Dynamics Corporation will post 16.97 earnings per share 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. Stockholders of record on Friday, October 9th will be issued a $1.59 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $6.36 annualized dividend and a dividend yield of 1.6%. General Dynamics's dividend payout ratio is presently 38.80%.

Analyst Ratings Changes

Several analysts have recently issued reports on GD shares. Susquehanna boosted their price target on shares of General Dynamics from $420.00 to $455.00 and gave the company a "positive" rating in a research report on Thursday, July 30th. 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. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $384.00 target price on shares of General Dynamics in a report on Thursday, July 30th. Jefferies Financial Group increased their target price on General Dynamics from $400.00 to $440.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Finally, Bank of America lifted their price target on General Dynamics from $400.00 to $415.00 and gave the company a "buy" rating in a research report on Monday, July 6th. One 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $410.89.

Insider Transactions at General Dynamics

In related news, CEO Phebe N. 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 value of $19,728,885.44. Following the sale, the chief executive officer owned 766,457 shares in the company, valued at approximately $293,231,119.06. This trade represents a 6.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark Malcolm sold 5,480 shares of General Dynamics stock in a transaction on Wednesday, June 17th. The shares were 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 $3,884,695. This represents a 33.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 100,228 shares of company stock valued at $38,052,853. 1.40% of the stock is currently owned by company insiders.

About General Dynamics

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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