General Dynamics Corporation $GD Shares Sold by Vest Financial LLC

Key Points

• Vest Financial LLC reduced its General Dynamics stake by 11.8% in the third quarter, selling 17,731 shares and retaining 132,492 shares valued at approximately $44.0 million. Institutional investors collectively own 86.14% of the company.
• Analysts maintain a generally positive outlook, with General Dynamics receiving a “Moderate Buy” consensus rating and an average price target of $402.32. Recent quarterly results exceeded expectations, with EPS of $4.24 and revenue of $14.09 billion.
• Company insiders sold 102,188 shares worth approximately $38.6 million in the latest quarter, while General Dynamics declared a quarterly dividend of $1.59, equivalent to an annualized $6.36 payout and a 1.8% yield.

Vest Financial LLC decreased its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 11.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,492 shares of the aerospace company's stock after selling 17,731 shares during the quarter. Vest Financial LLC's holdings in General Dynamics were worth $43,965,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada reduced their price objective on General Dynamics from $410.00 to $360.00 and set a "sector perform" rating for the company in a research note on Thursday, October 15th. Susquehanna raised their target price on shares of General Dynamics from $420.00 to $455.00 and gave the stock a "positive" rating in a research report on Thursday, July 30th. Sanford C. Bernstein lowered their target price on shares of General Dynamics from $407.00 to $365.00 and set a "market perform" rating on the stock in a research report on Wednesday, October 14th. BNP Paribas Exane lifted their target price on shares of General Dynamics from $390.00 to $430.00 and gave the company an "outperform" rating in a report on Thursday, July 30th. Finally, Bank of America upped their price target on shares of General Dynamics from $400.00 to $415.00 and gave the company a "buy" rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of "Moderate Buy" and an average price target of $402.32.

Insiders Place Their Bets

In other news, CEO Phebe N. Novakovic sold 51,568 shares of General Dynamics stock in a transaction dated Monday, August 3rd. The shares were 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marguerite Gilliland sold 43,180 shares of General Dynamics stock in a transaction dated 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. The trade was a 49.10% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 102,188 shares of company stock worth $38,627,265. 1.40% of the stock is owned by insiders.

General Dynamics Stock Performance

NYSE GD opened at $345.21 on Thursday. The firm has a market cap of $93.40 billion, a P/E ratio of 21.01, a P/E/G ratio of 2.01 and a beta of 0.33. General Dynamics Corporation has a 52-week low of $306.77 and a 52-week high of $400.00. The business's 50-day moving average price is $355.48 and its 200 day moving average price is $355.03. The company has a quick ratio of 0.96, a current ratio of 1.44 and a debt-to-equity ratio of 0.23.

General Dynamics (NYSE:GD - Get Free Report) last posted 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. General Dynamics had a return on equity of 17.43% and a net margin of 8.18%. The firm had revenue of $14.09 billion during the quarter, compared to the consensus estimate of $13.52 billion. During the same period in the prior year, the business earned $3.74 EPS. The firm's revenue was up 8.1% compared to the same quarter last year. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. On average, equities research analysts expect that General Dynamics Corporation will post 16.99 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 9th will be paid a $1.59 dividend. This represents a $6.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, October 9th. General Dynamics's payout ratio is currently 38.80%.

General Dynamics Company Profile

General Dynamics Corporation NYSE: GD is a global aerospace and defense company that develops, manufactures and supports products and services for government and commercial customers. Its operations serve the U.S. government, allied nations and other customers worldwide, with a significant focus on national security, military modernization and mission support.

The company operates through four primary business areas. Aerospace provides Gulfstream business jets and related aircraft services through Gulfstream Aerospace, as well as aircraft management, charter, maintenance and completions services through Jet Aviation.

Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Corporation (NYSE:GD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.