General Dynamics Corporation $GD Shares Purchased by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp increased its holdings in General Dynamics by 2.6%, acquiring an additional 5,943 shares, bringing their total ownership to approximately $69.6 million.
• Insider selling activity included CEO Phebe N. Novakovic and VP William A. Moss, who sold 129,090 and 17,700 shares, respectively, totaling over $46 million in sales.
• General Dynamics announced a quarterly dividend of $1.50 per share, with an annualized yield of 1.9%, set to be paid on November 14th.

Fifth Third Bancorp raised its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 238,721 shares of the aerospace company's stock after purchasing an additional 5,943 shares during the quarter. Fifth Third Bancorp owned 0.09% of General Dynamics worth $69,625,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Rialto Wealth Management LLC grew its stake in General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after purchasing an additional 62 shares in the last quarter. Inlight Wealth Management LLC acquired a new stake in General Dynamics during the 1st quarter valued at approximately $26,000. Copia Wealth Management acquired a new stake in General Dynamics during the 4th quarter valued at approximately $27,000. Smallwood Wealth Investment Management LLC acquired a new stake in General Dynamics during the 1st quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC bought a new position in General Dynamics during the 4th quarter worth approximately $28,000. Institutional investors and hedge funds own 86.14% of the company's stock.

Insider Activity

In other General Dynamics news, VP William A. Moss sold 17,700 shares of General Dynamics stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the sale, the vice president owned 16,627 shares of the company's stock, valued at $5,260,782.80. The trade was a 51.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Phebe N. Novakovic sold 129,090 shares of General Dynamics stock in a transaction on Monday, August 18th. The shares were sold at an average price of $313.57, for a total value of $40,478,751.30. Following the sale, the chief executive officer directly owned 769,607 shares in the company, valued at $241,325,666.99. The trade was a 14.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,020 shares of company stock worth $86,414,503 over the last ninety days. 1.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on GD. Cowen reaffirmed a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. UBS Group increased their target price on General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. TD Cowen increased their target price on General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Deutsche Bank Aktiengesellschaft raised General Dynamics from a "hold" rating to a "buy" rating and increased their target price for the stock from $298.00 to $342.00 in a report on Tuesday, July 8th. Finally, Jefferies Financial Group set a $325.00 target price on General Dynamics and gave the stock a "hold" rating in a report on Wednesday, July 9th. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $315.78.

General Dynamics Trading Up 0.1%

Shares of NYSE GD opened at $322.85 on Wednesday. The company has a market cap of $86.84 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 1.98 and a beta of 0.50. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $330.18. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. The stock's 50 day simple moving average is $317.15 and its 200 day simple moving average is $290.44.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.27. The business had revenue of $13.04 billion for the quarter, compared to the consensus estimate of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The business's revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Equities research analysts expect that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 annualized dividend and a yield of 1.9%. General Dynamics's payout ratio is presently 40.27%.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.

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