First Citizens Bank & Trust Co. Purchases 3,357 Shares of General Dynamics Corporation $GD

Key Points

• First Citizens Bank & Trust Co. increased its General Dynamics stake by 225.9% in the third quarter, purchasing 3,357 additional shares and bringing its holdings to 4,843 shares valued at approximately $1.61 million. Institutional investors collectively own 86.14% of GD.
• Analysts maintain a generally positive outlook, with General Dynamics receiving a “Moderate Buy” consensus rating and an average price target of $402.32, above its reported $336.97 share price.
• General Dynamics exceeded quarterly earnings and revenue expectations, reporting $4.24 in EPS and $14.09 billion in revenue, while declaring a quarterly dividend of $1.59. However, company insiders sold more than 102,000 shares worth approximately $38.6 million over the past 90 days.

First Citizens Bank & Trust Co. increased its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 225.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,843 shares of the aerospace company's stock after purchasing an additional 3,357 shares during the period. First Citizens Bank & Trust Co.'s holdings in General Dynamics were worth $1,607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. Caisse de depot et placement du Quebec boosted its position in shares of General Dynamics by 454.0% during the second quarter. Caisse de depot et placement du Quebec now owns 180,917 shares of the aerospace company's stock worth $64,088,000 after buying an additional 148,262 shares during the period. Empowered Funds LLC acquired a new stake in shares of General Dynamics in the second quarter valued at $21,368,000. United Capital Financial Advisors LLC purchased a new stake in shares of General Dynamics in the 2nd quarter valued at $30,781,000. Professional Advisory Services Inc. raised its holdings in shares of General Dynamics by 4.0% in the 2nd quarter. Professional Advisory Services Inc. now owns 67,028 shares of the aerospace company's stock valued at $23,744,000 after buying an additional 2,562 shares during the period. Finally, FSA Advisors Inc. acquired a new position in General Dynamics during the 2nd quarter worth about $1,254,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GD has been the subject of a number of research analyst reports. TD Cowen lowered their target price on General Dynamics from $420.00 to $380.00 and set a "buy" rating for the company in a report on Friday, October 9th. Sanford C. Bernstein cut their price target on shares of General Dynamics from $407.00 to $365.00 and set a "market perform" rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $384.00 price target on shares of General Dynamics in a research report on Thursday, July 30th. Susquehanna raised their price objective on shares of General Dynamics from $420.00 to $455.00 and gave the company a "positive" rating in a research note on Thursday, July 30th. Finally, Bank of America lifted their price objective on shares of General Dynamics from $400.00 to $415.00 and gave the company a "buy" rating in a report on Monday, July 6th. 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $402.32.

General Dynamics Stock Performance

Shares of GD opened at $336.97 on Friday. The stock has a 50 day moving average price of $359.44 and a 200 day moving average price of $355.08. General Dynamics Corporation has a 52-week low of $306.77 and a 52-week high of $400.00. The company has a quick ratio of 0.96, a current ratio of 1.44 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $91.17 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 1.93 and a beta of 0.33.

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, beating analysts' consensus estimates of $3.96 by $0.28. The firm had revenue of $14.09 billion for the quarter, compared to the consensus estimate 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 period last year, the firm posted $3.74 EPS. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. Research analysts predict that General Dynamics Corporation will post 16.98 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business 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. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, October 9th. General Dynamics's dividend payout ratio (DPR) is currently 38.80%.

Insider Activity at General Dynamics

In other General Dynamics news, Director Robert K. Steel sold 7,440 shares of the company's stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $346.05, for a total transaction of $2,574,612.00. Following the transaction, the director directly owned 3,096 shares in the company, valued at approximately $1,071,370.80. This represents a 70.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Phebe N. Novakovic sold 51,568 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 766,457 shares in the company, valued at $293,231,119.06. The trade was a 6.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 102,188 shares of company stock worth $38,627,265 over the last 90 days. Company insiders own 1.40% of the company's stock.

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. 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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