General Dynamics received clearance to buy back an additional 10 million shares.

The aerospace and defense company on Wednesday said its board had provided management with the authority to purchase additional shares.

General Dynamics bought 2 million shares for $434 million in the nine-month period ended Oct. 1, according to the company's latest quarterly filing with the Securities and Exchange Commission. The company had around 4 million shares available under its latest repurchase authorization around that time.

Shares of General Dynamics, which were little changed in recent trading at $277.39, are up about 6.8% this year.