General Dynamics Corporation $GD Shares Bought by NorthCrest Asset Manangement LLC

Key Points

• NorthCrest Asset Management increased its General Dynamics stake by 7.7% in the third quarter, owning 44,502 shares valued at approximately $14.7 million. Institutional investors collectively hold 86.14% of the company’s stock.
• General Dynamics exceeded quarterly expectations with $4.24 earnings per share and $14.09 billion in revenue, while revenue rose 8.1% year over year. The company also declared a quarterly dividend of $1.59 per share, representing a 1.9% yield.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $407.16, though insider selling totaled about $38.6 million during the latest quarter.

NorthCrest Asset Manangement LLC lifted its stake in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 7.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,502 shares of the aerospace company's stock after purchasing an additional 3,197 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in General Dynamics were worth $14,681,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Caisse de depot et placement du Quebec boosted its holdings 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 valued at $64,088,000 after acquiring an additional 148,262 shares during the period. Empowered Funds LLC bought a new position in shares of General Dynamics during the second quarter worth about $21,368,000. United Capital Financial Advisors LLC acquired a new stake in shares of General Dynamics in the 2nd quarter worth about $30,781,000. Professional Advisory Services Inc. lifted its position in 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 purchasing an additional 2,562 shares during the last quarter. Finally, FSA Advisors Inc. bought a new stake in General Dynamics in the 2nd quarter valued at about $1,254,000. Institutional investors own 86.14% of the company's stock.

General Dynamics Price Performance

Shares of GD opened at $334.96 on Tuesday. General Dynamics Corporation has a one year low of $306.77 and a one year high of $400.00. The stock's fifty day moving average is $362.49 and its 200-day moving average is $355.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.96 and a current ratio of 1.44. The firm has a market capitalization of $90.63 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 1.91 and a beta of 0.33.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The aerospace company reported $4.24 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.28. The business had revenue of $14.09 billion during 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 quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.74 earnings per share. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. Equities analysts anticipate that General Dynamics Corporation will post 16.99 EPS for the current year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 9th will be paid a dividend of $1.59 per share. 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%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Citigroup reduced their target price on shares of General Dynamics from $404.00 to $374.00 and set a "neutral" rating for the company in a research note on Wednesday, October 7th. 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. Weiss Ratings reiterated a "buy (b)" rating on shares of General Dynamics in a research report on Monday, September 28th. Susquehanna boosted their price objective on General Dynamics from $420.00 to $455.00 and gave the stock a "positive" rating in a research report on Thursday, July 30th. Finally, Morgan Stanley increased their price objective on General Dynamics from $435.00 to $465.00 and gave the stock an "overweight" rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, General Dynamics currently has an average rating of "Moderate Buy" and an average target price of $407.16.

Insider Activity at General Dynamics

In related news, EVP Marguerite Gilliland sold 43,180 shares of the firm's stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $378.04, for a total transaction of $16,323,767.20. Following the completion of the sale, the executive vice president directly owned 44,767 shares in the company, valued at approximately $16,923,716.68. This trade represents a 49.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Phebe N. Novakovic sold 51,568 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer owned 766,457 shares of the company's stock, valued at $293,231,119.06. The trade was a 6.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 102,188 shares of company stock worth $38,627,265 over the last quarter. 1.40% of the stock is currently owned by company insiders.

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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