CNB Bank Sells 68 Shares of General Dynamics Corporation $GD

CNB Bank decreased its position in shares of General Dynamics Corporation (NYSE:GD) by 6.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,058 shares of the aerospace company’s stock after selling 68 shares during the quarter. CNB Bank’s holdings in General Dynamics were worth $309,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GD. Global Wealth Management Investment Advisory Inc. raised its holdings in shares of General Dynamics by 11.5% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 16,522 shares of the aerospace company’s stock valued at $4,504,000 after purchasing an additional 1,704 shares during the last quarter. Pinnacle Financial Partners Inc boosted its position in shares of General Dynamics by 1.5% in the first quarter. Pinnacle Financial Partners Inc now owns 63,228 shares of the aerospace company’s stock valued at $16,741,000 after acquiring an additional 915 shares during the period. Marks Group Wealth Management Inc boosted its position in shares of General Dynamics by 18.1% in the first quarter. Marks Group Wealth Management Inc now owns 31,620 shares of the aerospace company’s stock valued at $8,619,000 after acquiring an additional 4,836 shares during the period. Mesirow Financial Investment Management Inc. boosted its position in shares of General Dynamics by 31.3% in the first quarter. Mesirow Financial Investment Management Inc. now owns 5,598 shares of the aerospace company’s stock valued at $1,526,000 after acquiring an additional 1,333 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of General Dynamics by 10.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 463,917 shares of the aerospace company’s stock valued at $126,454,000 after acquiring an additional 43,885 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Phebe N. Novakovic sold 129,090 shares of General Dynamics stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $313.57, for a total value of $40,478,751.30. Following the completion of the sale, the chief executive officer owned 769,607 shares of the company’s stock, valued at approximately $241,325,666.99. This trade represents a 14.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of General Dynamics stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $315.20, for a total value of $10,634,848.00. Following the transaction, the executive vice president directly owned 45,192 shares of the company’s stock, valued at $14,244,518.40. The trade was a 42.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 242,460 shares of company stock worth $76,192,291 in the last quarter. 1.50% of the stock is currently owned by company insiders.

General Dynamics Stock Performance

NYSE:GD opened at $350.22 on Friday. The company has a market capitalization of $94.20 billion, a PE ratio of 23.50, a P/E/G ratio of 2.10 and a beta of 0.47. The company has a 50 day simple moving average of $329.49 and a two-hundred day simple moving average of $301.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $360.50.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Friday, October 24th. The aerospace company reported $3.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.69 by $0.19. The firm had revenue of $12.91 billion for the quarter, compared to analysts’ expectations of $12.49 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.35 EPS. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. Research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 annualized dividend and a yield of 1.7%. General Dynamics’s dividend payout ratio (DPR) is 40.27%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GD shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of General Dynamics in a research report on Wednesday, October 8th. Jefferies Financial Group set a $325.00 price objective on General Dynamics and gave the company a “hold” rating in a research note on Wednesday, July 9th. Robert W. Baird upped their price objective on General Dynamics from $283.00 to $350.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Citigroup upped their price objective on General Dynamics from $348.00 to $368.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, Seaport Res Ptn raised General Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $327.44.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.