American National Bank & Trust Boosts Stock Holdings in General Dynamics Corporation $GD

Key Points

• American National Bank & Trust increased its stake in General Dynamics Corporation by 13.4%, owning 36,482 shares valued at $10.64 million.
• The company's stock recently reported a quarterly EPS of $3.74, exceeding estimates, with a revenue of $13.04 billion, marking an 8.9% year-over-year increase.
• General Dynamics announced a quarterly dividend of $1.50 per share, which will be paid on November 14th, resulting in an annualized yield of 1.8%.

American National Bank & Trust raised its holdings in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 13.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 36,482 shares of the aerospace company's stock after purchasing an additional 4,323 shares during the period. American National Bank & Trust's holdings in General Dynamics were worth $10,640,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Retirement Guys Formula LLC bought a new position in shares of General Dynamics during the 1st quarter worth approximately $1,692,000. Advisory Resource Group raised its stake in shares of General Dynamics by 7.1% during the 1st quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company's stock worth $5,234,000 after acquiring an additional 1,276 shares in the last quarter. Mission Wealth Management LP raised its stake in shares of General Dynamics by 18.9% during the 1st quarter. Mission Wealth Management LP now owns 16,144 shares of the aerospace company's stock worth $4,401,000 after acquiring an additional 2,568 shares in the last quarter. Matrix Asset Advisors Inc. NY raised its stake in shares of General Dynamics by 31.6% during the 1st quarter. Matrix Asset Advisors Inc. NY now owns 33,644 shares of the aerospace company's stock worth $9,171,000 after acquiring an additional 8,073 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. raised its stake in shares of General Dynamics by 11.5% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 16,522 shares of the aerospace company's stock worth $4,504,000 after acquiring an additional 1,704 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Stock Up 0.2%

GD stock opened at $324.33 on Friday. The firm's fifty day simple moving average is $318.11 and its 200-day simple moving average is $291.03. The company has a market capitalization of $87.24 billion, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 1.99 and a beta of 0.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $330.18.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating the consensus estimate of $3.47 by $0.27. The business had revenue of $13.04 billion for the quarter, compared to the consensus estimate of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The business's revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, equities research analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a yield of 1.8%. General Dynamics's dividend payout ratio is 40.27%.

Analyst Upgrades and Downgrades

Several research firms recently commented on GD. JPMorgan Chase & Co. boosted their price objective on shares of General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Deutsche Bank Aktiengesellschaft raised shares of General Dynamics from a "hold" rating to a "buy" rating and boosted their target price for the stock from $298.00 to $342.00 in a research report on Tuesday, July 8th. TD Cowen boosted their target price on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Sanford C. Bernstein set a $314.00 target price on shares of General Dynamics and gave the stock a "market perform" rating in a research report on Monday, July 14th. Finally, UBS Group boosted their target price on shares of General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, General Dynamics presently has an average rating of "Hold" and a consensus price target of $315.78.

Insider Activity

In related news, CEO Phebe N. Novakovic sold 129,090 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the sale, the chief executive officer directly owned 769,607 shares of the company's stock, valued at approximately $241,325,666.99. This represents a 14.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP William A. Moss sold 17,700 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the sale, the vice president directly owned 16,627 shares in the company, valued at $5,260,782.80. This trade represents a 51.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,020 shares of company stock valued at $86,414,503 in the last three months. Corporate insiders own 1.50% of the company's stock.

About General Dynamics

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.

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