NBT Bank N.A. Buys 19,649 Shares of General Dynamics Corporation $GD

Key Points

• NBT Bank acquired 19,649 General Dynamics shares worth approximately $6.52 million, while institutional investors collectively own 86.14% of the company.
• General Dynamics reported quarterly EPS of $4.24, beating estimates of $3.96, and revenue of $14.09 billion, up 8.1% year over year. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $402.32.
• Company insiders sold 102,188 shares worth $38.6 million over the past three months. General Dynamics also declared a quarterly dividend of $1.59 per share, representing a 1.8% yield.

NBT Bank N.A. purchased a new position in General Dynamics Corporation (NYSE:GD - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,649 shares of the aerospace company's stock, valued at approximately $6,520,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Oxford Financial Group LTD. LLC grew its stake in General Dynamics by 1.9% during the second quarter. Oxford Financial Group LTD. LLC now owns 1,426 shares of the aerospace company's stock worth $505,000 after buying an additional 26 shares in the last quarter. Willner & Heller LLC raised its position in shares of General Dynamics by 1.4% in the 2nd quarter. Willner & Heller LLC now owns 2,050 shares of the aerospace company's stock valued at $726,000 after buying an additional 28 shares in the last quarter. Meriwether Wealth & Planning LLC raised its position in shares of General Dynamics by 0.8% in the 2nd quarter. Meriwether Wealth & Planning LLC now owns 3,443 shares of the aerospace company's stock valued at $1,220,000 after buying an additional 28 shares in the last quarter. Capital Advisors Inc. OK raised its position in shares of General Dynamics by 0.6% in the 2nd quarter. Capital Advisors Inc. OK now owns 4,551 shares of the aerospace company's stock valued at $1,612,000 after buying an additional 29 shares in the last quarter. Finally, Klingman & Associates LLC lifted its holdings in shares of General Dynamics by 3.3% during the 1st quarter. Klingman & Associates LLC now owns 949 shares of the aerospace company's stock worth $326,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 86.14% of the company's stock.

Insider Buying and Selling

In other General Dynamics news, CEO Phebe N. Novakovic sold 51,568 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $293,231,119.06. This trade represents a 6.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert K. Steel sold 7,440 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the director owned 3,096 shares in the company, valued at $1,071,370.80. This represents a 70.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 102,188 shares of company stock worth $38,627,265 in the last three months. 1.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

GD has been the topic of several analyst reports. Citigroup reduced their price target on shares of General Dynamics from $404.00 to $374.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 7th. Morgan Stanley boosted their price objective on shares of General Dynamics from $435.00 to $465.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. TD Cowen lowered their price objective on shares of General Dynamics from $420.00 to $380.00 and set a "buy" rating for the company in a research report on Friday, October 9th. BNP Paribas Exane upped their target price on General Dynamics from $390.00 to $430.00 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. Finally, Wall Street Zen downgraded General Dynamics from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $402.32.

General Dynamics Stock Performance

General Dynamics stock opened at $350.31 on Friday. General Dynamics Corporation has a 12-month low of $306.77 and a 12-month 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 business's 50-day moving average price is $354.64 and its two-hundred day moving average price is $355.03. The stock has a market cap of $94.78 billion, a PE ratio of 21.37, a P/E/G ratio of 2.02 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, topping analysts' consensus estimates of $3.96 by $0.28. The firm 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 business's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.74 earnings per share. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. As a group, analysts expect that General Dynamics Corporation will post 16.99 earnings per share 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. Investors of record on Friday, October 9th will be issued a dividend of $1.59 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $6.36 annualized dividend and a dividend yield of 1.8%. General Dynamics's payout ratio is 38.80%.

About General Dynamics

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.

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