Chemung Canal Trust Co. Has $1.99 Million Stock Holdings in General Dynamics Corporation $GD

Key Points

• Chemung Canal Trust Co. increased its stake in General Dynamics Corporation by 82.6%, bringing its total holdings to $1.99 million.
• General Dynamics reported Q2 earnings of $3.74 per share, exceeding analyst expectations, and a revenue of $13.04 billion, marking an 8.9% year-over-year increase.
• The stock has a consensus rating of "Hold" with a price target range from $284 to $360 according to various brokerages.

Chemung Canal Trust Co. boosted its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 82.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,826 shares of the aerospace company's stock after purchasing an additional 3,088 shares during the quarter. Chemung Canal Trust Co.'s holdings in General Dynamics were worth $1,991,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of GD. Brighton Jones LLC grew its holdings in General Dynamics by 16.9% in the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company's stock worth $760,000 after purchasing an additional 417 shares during the period. Signal Advisors Wealth LLC grew its holdings in General Dynamics by 13.5% in the first quarter. Signal Advisors Wealth LLC now owns 1,460 shares of the aerospace company's stock worth $398,000 after purchasing an additional 174 shares during the period. Procyon Advisors LLC grew its holdings in General Dynamics by 0.9% in the first quarter. Procyon Advisors LLC now owns 7,744 shares of the aerospace company's stock worth $2,111,000 after purchasing an additional 67 shares during the period. Pines Wealth Management LLC grew its holdings in General Dynamics by 14.6% in the first quarter. Pines Wealth Management LLC now owns 4,170 shares of the aerospace company's stock worth $1,061,000 after purchasing an additional 531 shares during the period. Finally, Radnor Capital Management LLC grew its holdings in shares of General Dynamics by 1.9% during the first quarter. Radnor Capital Management LLC now owns 6,670 shares of the aerospace company's stock valued at $1,818,000 after buying an additional 127 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other General Dynamics news, VP Christopher J. Brady sold 8,150 shares of General Dynamics stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $321.18, for a total value of $2,617,617.00. Following the sale, the vice president owned 22,818 shares of the company's stock, valued at approximately $7,328,685.24. The trade was a 26.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP William A. Moss sold 17,700 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the completion of the sale, the vice president directly owned 16,627 shares in the company, valued at approximately $5,260,782.80. This trade represents a 51.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 275,020 shares of company stock valued at $86,414,503. Company insiders own 1.50% of the company's stock.

General Dynamics Stock Performance

Shares of GD stock opened at $343.76 on Friday. The firm has a market cap of $92.47 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 2.10 and a beta of 0.47. 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 52 week low of $239.20 and a 52 week high of $345.22. The firm's 50-day simple moving average is $321.91 and its two-hundred day simple moving average is $294.30.

General Dynamics (NYSE:GD - Get Free Report) last announced 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. The business had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The company's revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, equities analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be given 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 payout ratio is currently 40.27%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GD. Deutsche Bank Aktiengesellschaft upgraded 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. Wolfe Research upgraded shares of General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price objective for the company in a report on Thursday, July 24th. TD Cowen lifted their price objective on shares of General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Robert W. Baird lifted their price objective on shares of General Dynamics from $283.00 to $350.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of General Dynamics from $284.00 to $345.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, General Dynamics presently has a consensus rating of "Hold" and an average price target of $315.78.

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.

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