Canandaigua National Bank & Trust Co. Purchases 1,001 Shares of General Dynamics Corporation $GD

Key Points

• Canandaigua National Bank & Trust Co. increased its stake in General Dynamics Corporation by 8.7%, acquiring an additional 1,001 shares, bringing its total holdings to 12,456 shares valued at approximately $3.63 million.
• General Dynamics reported Q2 earnings of $3.74 per share, exceeding estimates by $0.27, while also achieving a quarterly revenue of $13.04 billion, surpassing expectations of $12.13 billion.
• The company announced a quarterly dividend of $1.50 per share to be paid on November 14th, resulting in an annualized dividend yield of 1.8%, with a payout ratio of 40.27%.

Canandaigua National Bank & Trust Co. grew its position in General Dynamics Corporation (NYSE:GD - Free Report) by 8.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,456 shares of the aerospace company's stock after acquiring an additional 1,001 shares during the quarter. Canandaigua National Bank & Trust Co.'s holdings in General Dynamics were worth $3,633,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of General Dynamics by 4.9% in the 1st quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company's stock worth $1,499,819,000 after acquiring an additional 256,687 shares during the period. Ameriprise Financial Inc. lifted its position in shares of 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 acquiring an additional 709,782 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of General Dynamics by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,582,388 shares of the aerospace company's stock worth $431,327,000 after acquiring an additional 5,313 shares during the period. Boston Partners lifted its position in shares of General Dynamics by 7.9% during the 1st quarter. Boston Partners now owns 1,296,497 shares of the aerospace company's stock worth $353,558,000 after buying an additional 94,537 shares during the period. Finally, Deutsche Bank AG lifted its position in shares of General Dynamics by 120.9% during the 1st quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company's stock worth $343,866,000 after buying an additional 690,349 shares during the period. Institutional investors own 86.14% of the company's stock.

General Dynamics Stock Down 1.0%

NYSE GD opened at $326.23 on Monday. The stock has a fifty day moving average of $313.76 and a 200-day moving average of $287.46. The stock has a market capitalization of $87.75 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 2.00 and a beta of 0.50. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $330.18. 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 (NYSE:GD - Get Free Report) last released its earnings results 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 company had revenue of $13.04 billion during the quarter, compared to analysts' expectations of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The business's revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the firm earned $3.26 EPS. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, equities research analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

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

Analyst Ratings Changes

Several research firms recently commented on GD. TD Cowen raised their target price on General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Robert W. Baird raised their target price on General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. UBS Group raised their target price on General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Jefferies Financial Group set a $325.00 price target on General Dynamics and gave the company a "hold" rating in a report on Wednesday, July 9th. Finally, Barclays raised their price target on General Dynamics from $285.00 to $350.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Nine research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $315.78.

Insider Activity

In other General Dynamics news, VP William A. Moss sold 17,700 shares of General Dynamics stock in a transaction dated 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 transaction, the vice president directly owned 16,627 shares in the company, valued at approximately $5,260,782.80. The trade was a 51.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of General Dynamics stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $315.20, for a total value of $10,634,848.00. Following the transaction, the executive vice president owned 45,192 shares in the company, valued at approximately $14,244,518.40. This represents a 42.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 271,800 shares of company stock valued at $85,353,674. Company 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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