Cadence Bank Raises Stake in General Dynamics Corporation $GD

Key Points

• Cadence Bank has increased its holdings in General Dynamics Corporation by 3.2%, owning a total of 37,102 shares valued at approximately $10.1 million as of the end of the last quarter.
• General Dynamics reported quarterly earnings of $3.74 per share, exceeding analysts' expectations, with revenues of $13.04 billion, up 8.9% year-over-year.
• The company announced a quarterly dividend of $1.50 per share, which will be paid on November 14th, representing a yield of 1.9% based on an annualized amount of $6.00.

Cadence Bank increased its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 3.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,102 shares of the aerospace company's stock after buying an additional 1,137 shares during the period. General Dynamics accounts for about 0.7% of Cadence Bank's holdings, making the stock its 29th largest holding. Cadence Bank's holdings in General Dynamics were worth $10,113,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of General Dynamics by 4.9% during the 1st quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company's stock valued at $1,499,819,000 after buying an additional 256,687 shares during the period. Royal Bank of Canada increased its stake in General Dynamics by 5.2% in the 4th quarter. Royal Bank of Canada now owns 2,935,046 shares of the aerospace company's stock worth $773,355,000 after buying an additional 145,978 shares in the last quarter. Ameriprise Financial Inc. increased its stake in General Dynamics by 34.8% in the 1st quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company's stock worth $749,252,000 after buying an additional 709,782 shares in the last quarter. Northern Trust Corp grew its position in shares of General Dynamics by 4.2% during the fourth quarter. Northern Trust Corp now owns 2,606,137 shares of the aerospace company's stock valued at $686,691,000 after purchasing an additional 103,870 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of General Dynamics by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company's stock valued at $431,327,000 after purchasing an additional 5,313 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

General Dynamics Trading Up 1.0%

Shares of General Dynamics stock traded up $3.32 during mid-day trading on Wednesday, hitting $325.50. The stock had a trading volume of 846,651 shares, compared to its average volume of 1,424,312. The firm has a 50-day moving average of $304.19 and a two-hundred day moving average of $280.27. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $325.82. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32. The firm has a market cap of $87.55 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 1.96 and a beta of 0.48.

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

General Dynamics Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. UBS Group lifted their price target on General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Wolfe Research raised shares of General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price target for the company 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 lifted their price objective for the company from $298.00 to $342.00 in a report on Tuesday, July 8th. Argus set a $295.00 price target on shares of General Dynamics in a report on Tuesday, May 6th. Finally, Citigroup lifted their price target on shares of General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Nine research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $315.78.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 129,090 shares of the firm's 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 transaction, the chief executive officer directly 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 document filed with the SEC, which is available at the SEC website. Also, VP Christopher J. Brady sold 8,150 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $321.18, for a total transaction of $2,617,617.00. Following the completion of the sale, the vice president owned 22,818 shares of the company's stock, valued at $7,328,685.24. This trade represents a 26.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 458,260 shares of company stock worth $138,125,545. 1.50% of the stock is currently owned by insiders.

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.