General Dynamics Corporation $GD Stock Position Increased by CX Institutional

Key Points

• CX Institutional increased its General Dynamics position by 140% in the third quarter, adding 20,341 shares to hold 34,873 shares worth approximately $11.6 million. Institutional investors collectively own 86.14% of GD stock.
• General Dynamics reported quarterly earnings of $4.24 per share, exceeding estimates of $3.96, while revenue rose 8.1% year over year to $14.09 billion. The company also declared a $1.59 quarterly dividend, yielding approximately 1.9% annually.
• GD shares recently traded at $330.25, below their 50-day and 200-day moving averages. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $410.84, although insiders have sold more than $38.6 million of stock over the past 90 days.

CX Institutional grew its position in General Dynamics Corporation (NYSE:GD - Free Report) by 140.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,873 shares of the aerospace company's stock after purchasing an additional 20,341 shares during the period. CX Institutional's holdings in General Dynamics were worth $11,572,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in General Dynamics in the 2nd quarter worth approximately $6,840,590,000. Bank of America Corp DE acquired a new stake in General Dynamics during the 2nd quarter valued at approximately $2,603,527,000. Corient Private Wealth LP purchased a new stake in shares of General Dynamics in the 2nd quarter valued at $57,986,000. Bank of New York Mellon Corp purchased a new stake in shares of General Dynamics in the 2nd quarter valued at $429,073,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of General Dynamics in the second quarter worth $224,983,000. Institutional investors and hedge funds own 86.14% of the company's stock.

General Dynamics Stock Performance

NYSE GD traded down $2.47 during mid-day trading on Friday, reaching $330.25. 1,415,816 shares of the stock were exchanged, compared to its average volume of 1,295,947. The business's 50 day moving average is $370.20 and its 200-day moving average is $356.40. General Dynamics Corporation has a 1 year low of $306.77 and a 1 year high of $400.00. The company has a market capitalization of $89.35 billion, a P/E ratio of 20.15, a P/E/G ratio of 1.91 and a beta of 0.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.96 and a current ratio of 1.44.

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

General Dynamics Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently issued reports on GD shares. Wells Fargo & Company boosted their target price on shares of General Dynamics from $400.00 to $440.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. Sanford C. Bernstein cut their price target on General Dynamics from $421.00 to $407.00 and set a "market perform" rating on the stock in a research report on Wednesday, September 23rd. Bank of America lifted their price objective on General Dynamics from $400.00 to $415.00 and gave the company a "buy" rating in a research note on Monday, July 6th. TD Cowen boosted their price objective on General Dynamics from $390.00 to $420.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Finally, Robert W. Baird set a $430.00 target price on General Dynamics in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $410.84.

Insiders Place Their Bets

In other General Dynamics news, Director Robert K. Steel sold 7,440 shares of the stock in a transaction that occurred on 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 transaction, the director 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 document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 102,188 shares of company stock worth $38,627,265. 1.40% of the stock is owned by corporate 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.

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.