Sanders Morris Harris LLC Purchases 3,400 Shares of General Dynamics Corporation $GD

Key Points

• Sanders Morris Harris LLC initiated a General Dynamics position by purchasing 3,400 shares worth approximately $1.13 million. Institutional investors collectively own 86.14% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $404.95, despite some target-price reductions.
• General Dynamics reported quarterly earnings and revenue above expectations, while declaring a quarterly dividend of $1.59 per share, equivalent to a 1.9% annualized yield.

Sanders Morris Harris LLC purchased a new position in shares of General Dynamics Corporation (NYSE:GD - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,400 shares of the aerospace company's stock, valued at approximately $1,130,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Citizens Bank & Trust Co. lifted its position in General Dynamics by 225.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 4,843 shares of the aerospace company's stock worth $1,607,000 after acquiring an additional 3,357 shares during the period. Focus Financial Network Inc. increased its holdings in shares of General Dynamics by 58.2% in the third quarter. Focus Financial Network Inc. now owns 981 shares of the aerospace company's stock valued at $326,000 after purchasing an additional 361 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in shares of General Dynamics by 40.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 3,495 shares of the aerospace company's stock valued at $1,160,000 after purchasing an additional 1,009 shares during the period. Krilogy Financial LLC raised its stake in shares of General Dynamics by 85.8% during the third quarter. Krilogy Financial LLC now owns 6,206 shares of the aerospace company's stock worth $2,082,000 after purchasing an additional 2,866 shares during the last quarter. Finally, Courier Capital LLC raised its stake in shares of General Dynamics by 98.1% during the third quarter. Courier Capital LLC now owns 13,058 shares of the aerospace company's stock worth $4,333,000 after purchasing an additional 6,467 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Robert W. Baird set a $430.00 price target on General Dynamics in a report on Thursday, July 30th. Weiss Ratings reissued a "buy (b)" rating on shares of General Dynamics in a research note on Monday, September 28th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $384.00 price objective on shares of General Dynamics in a research report on Thursday, July 30th. 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. Finally, BNP Paribas Exane raised their target price on shares of General Dynamics from $390.00 to $430.00 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. 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 issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $404.95.

Insider Buying and Selling at General Dynamics

In other news, CEO Phebe N. Novakovic sold 51,568 shares of the company's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $382.58, for a total transaction of $19,728,885.44. Following the transaction, the chief executive officer directly owned 766,457 shares of the company's stock, valued at $293,231,119.06. This represents a 6.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert K. Steel sold 7,440 shares of the company's stock in a transaction 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 directly owned 3,096 shares in the company, valued at approximately $1,071,370.80. This trade represents a 70.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 102,188 shares of company stock valued at $38,627,265. 1.40% of the stock is owned by company insiders.

General Dynamics Stock Performance

Shares of GD stock traded up $2.10 during trading hours on Wednesday, reaching $334.52. 994,070 shares of the company's stock were exchanged, compared to its average volume of 1,299,343. The company has a market cap of $90.51 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 1.94 and a beta of 0.33. The company's 50 day moving average is $360.43 and its two-hundred day moving average is $355.15. General Dynamics Corporation has a 1 year low of $306.77 and a 1 year high of $400.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.44 and a quick ratio of 0.96.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $14.09 billion during the quarter, compared to analysts' expectations of $13.52 billion. During the same period last year, the firm earned $3.74 EPS. The company's quarterly 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. Equities research analysts anticipate that General Dynamics Corporation will post 16.99 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders 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 (DPR) is 38.80%.

About General Dynamics

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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