Sanders Morris Harris LLC Purchases New Position in General Dynamics Corporation $GD

Sanders Morris Harris LLC bought a new stake in General Dynamics Corporation (NYSE:GD) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 3,400 shares of the aerospace company’s stock, valued at approximately $1,130,000.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new position in General Dynamics during the second quarter worth $6,840,590,000. State Street Corp increased its stake in shares of General Dynamics by 3.3% during the 2nd quarter. State Street Corp now owns 11,811,099 shares of the aerospace company’s stock valued at $4,183,964,000 after acquiring an additional 374,682 shares during the last quarter. Bank of America Corp DE purchased a new position in General Dynamics during the second quarter worth approximately $2,603,527,000. Corient Private Wealth LP raised its position in shares of General Dynamics by 806.3% in the 2nd quarter. Corient Private Wealth LP now owns 1,661,702 shares of the aerospace company’s stock worth $588,641,000 after buying an additional 1,478,353 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of General Dynamics by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,579,959 shares of the aerospace company’s stock worth $542,274,000 after purchasing an additional 28,249 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Dynamics

In other news, EVP Marguerite Gilliland sold 43,180 shares of the company’s stock in a transaction 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 transaction, the executive vice president directly owned 44,767 shares of the company’s stock, valued at approximately $16,923,716.68. This represents a 49.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert K. Steel sold 7,440 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $346.05, for a total value of $2,574,612.00. Following the completion of the transaction, the director owned 3,096 shares in the company, valued at $1,071,370.80. This trade represents a 70.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 102,188 shares of company stock valued at $38,627,265 in the last quarter. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GD. TD Cowen reduced their target price on shares of General Dynamics from $420.00 to $380.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Citigroup dropped their price target 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. Morgan Stanley increased their target price on General Dynamics from $435.00 to $465.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Jefferies Financial Group raised their price target on shares of General Dynamics from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $404.95.

General Dynamics Trading Up 0.6%

GD stock traded up $2.10 during mid-day trading on Wednesday, reaching $334.52. 994,070 shares of the stock traded hands, compared to its average volume of 1,299,343. The stock’s fifty day moving average is $360.43 and its 200-day moving average is $355.15. The company has a market cap of $90.51 billion, a P/E ratio of 20.41, a P/E/G ratio of 1.94 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 company has a current ratio of 1.44, a quick ratio of 0.96 and a debt-to-equity ratio of 0.23.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 29th. The aerospace company reported $4.24 EPS for the quarter, topping 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 quarter last year, the firm posted $3.74 earnings per share. General Dynamics’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. As a group, sell-side analysts expect that General Dynamics Corporation will post 16.99 earnings per share for the current year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 9th will be paid a dividend of $1.59 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.9%. General Dynamics’s dividend payout ratio (DPR) is 38.80%.

General Dynamics 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.