Courier Capital LLC Acquires 6,467 Shares of General Dynamics Corporation $GD

Key Points

• Courier Capital nearly doubled its General Dynamics stake during the third quarter, acquiring 6,467 additional shares and bringing its holdings to 13,058 shares valued at approximately $4.33 million.
• General Dynamics exceeded quarterly expectations with $4.24 in earnings per share and $14.09 billion in revenue, while revenue grew 8.1% year over year. The company also declared a quarterly dividend of $1.59 per share, equivalent to a 1.9% yield.
• Institutional investors own 86.14% of GD, and analysts maintain a consensus “Moderate Buy” rating with an average price target of $407.16, despite recent insider selling and the stock trading near $332.72.

Courier Capital LLC lifted its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 98.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,058 shares of the aerospace company's stock after purchasing an additional 6,467 shares during the quarter. Courier Capital LLC's holdings in General Dynamics were worth $4,333,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of General Dynamics in the second quarter valued at approximately $6,840,590,000. Bank of America Corp DE bought a new position in General Dynamics during the 2nd quarter worth $2,603,527,000. Corient Private Wealth LP bought a new position in General Dynamics during the 2nd quarter worth $57,986,000. Bank of New York Mellon Corp acquired a new position in General Dynamics in the 2nd quarter valued at $429,073,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in General Dynamics in the 2nd quarter valued at $224,983,000. 86.14% of the stock is owned by institutional investors.

General Dynamics Price Performance

NYSE GD traded down $2.74 during trading on Tuesday, hitting $332.72. 1,284,012 shares of the company's stock were exchanged, compared to its average volume of 1,300,901. The company has a market cap of $90.02 billion, a PE ratio of 20.30, a P/E/G ratio of 1.91 and a beta of 0.33. 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 fifty-two week low of $306.77 and a fifty-two week high of $400.00. The stock's 50 day moving average price is $361.42 and its two-hundred day moving average price is $355.30.

General Dynamics (NYSE:GD - Get Free Report) last posted its earnings results on Wednesday, July 29th. The aerospace company reported $4.24 earnings per share for the quarter, topping analysts' consensus estimates of $3.96 by $0.28. The firm had revenue of $14.09 billion for 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%. The company's revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.74 earnings per share. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. Research analysts expect that General Dynamics Corporation will post 16.99 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 9th will be given a dividend of $1.59 per share. The ex-dividend date is Friday, October 9th. This represents a $6.36 dividend on an annualized basis and a yield of 1.9%. General Dynamics's payout ratio is currently 38.80%.

Insiders Place Their Bets

In other news, Director Robert K. Steel sold 7,440 shares of General Dynamics stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $346.05, for a total transaction of $2,574,612.00. Following the sale, the director directly owned 3,096 shares of the company's stock, valued at approximately $1,071,370.80. This trade represents a 70.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Phebe N. Novakovic sold 51,568 shares of the business's stock in a transaction dated 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 102,188 shares of company stock valued at $38,627,265 in the last 90 days. Corporate insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

GD has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of General Dynamics in a research report on Monday, September 28th. Bank of America upped their price objective on shares of General Dynamics from $400.00 to $415.00 and gave the stock a "buy" rating in a research report on Monday, July 6th. Royal Bank Of Canada increased their price objective on shares of General Dynamics from $385.00 to $410.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 30th. Sanford C. Bernstein reduced their price objective on shares of General Dynamics from $421.00 to $407.00 and set a "market perform" rating on the stock in a research note on Wednesday, September 23rd. Finally, Citigroup decreased their target price on shares of General Dynamics from $404.00 to $374.00 and set a "neutral" rating on the stock in a report on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $407.16.

General Dynamics Profile

General Dynamics Corporation NYSE: GD is an aerospace and defense company that develops and delivers products and services for government and commercial customers. The company operates through four primary business segments: Aerospace, Marine Systems, Combat Systems, and Technologies.

Its Aerospace segment designs and manufactures Gulfstream business jets and provides aircraft support services. Marine Systems builds nuclear-powered submarines and surface ships for the U.S. Navy, while Combat Systems produces armored vehicles, combat systems, weapons, and munitions.

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