Glenview Trust co Lowers Position in General Dynamics Corporation $GD

Key Points

• Glenview Trust co has reduced its stake in General Dynamics Corporation by 11.8%, now holding 9,904 shares valued at $2.7 million.
• General Dynamics reported earnings of $3.74 per share, exceeding analysts' expectations, with a revenue increase of 8.9% year-over-year.
• The company announced a quarterly dividend of $1.50 per share, resulting in an annualized dividend yield of 1.9%.

Glenview Trust co lessened its stake in General Dynamics Corporation (NYSE:GD - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,904 shares of the aerospace company's stock after selling 1,324 shares during the period. Glenview Trust co's holdings in General Dynamics were worth $2,700,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Principal Securities Inc. boosted its position in General Dynamics by 0.5% in the 1st quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company's stock worth $2,161,000 after purchasing an additional 37 shares in the last quarter. Sharpepoint LLC lifted its position in shares of General Dynamics by 4.2% during the 1st quarter. Sharpepoint LLC now owns 917 shares of the aerospace company's stock valued at $249,000 after buying an additional 37 shares in the last quarter. United Asset Strategies Inc. lifted its position in shares of General Dynamics by 1.2% during the 1st quarter. United Asset Strategies Inc. now owns 3,140 shares of the aerospace company's stock valued at $856,000 after buying an additional 37 shares in the last quarter. 1858 Wealth Management LLC lifted its position in shares of General Dynamics by 1.2% during the 1st quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company's stock valued at $879,000 after buying an additional 38 shares in the last quarter. Finally, Keystone Financial Services lifted its position in shares of General Dynamics by 1.6% during the 1st quarter. Keystone Financial Services now owns 2,421 shares of the aerospace company's stock valued at $660,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Stock Up 0.5%

Shares of GD opened at $322.84 on Thursday. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $326.02. The company has a market capitalization of $86.84 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 1.97 and a beta of 0.50. The stock has a fifty day simple moving average of $312.40 and a two-hundred day simple moving average of $285.84. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.27. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The business had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. During the same period last year, the company earned $3.26 EPS. The company's revenue for the quarter was up 8.9% on a year-over-year basis. 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 EPS for the current year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics's dividend payout ratio (DPR) is presently 40.27%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GD shares. Cowen reiterated a "buy" rating on shares of General Dynamics in a research report on Wednesday, June 25th. Deutsche Bank Aktiengesellschaft upgraded General Dynamics from a "hold" rating to a "buy" rating and increased their target price for the company from $298.00 to $342.00 in a research report on Tuesday, July 8th. Barclays increased their target price on General Dynamics from $285.00 to $350.00 and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Sanford C. Bernstein set a $314.00 price objective on General Dynamics and gave the company a "market perform" rating in a research note on Monday, July 14th. Finally, TD Cowen increased their price objective on General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $315.78.

Insider Activity

In related news, EVP Marguerite Amy Gilliland sold 33,740 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the completion of the transaction, the executive vice president directly owned 45,192 shares in the company, valued at $14,244,518.40. This trade represents a 42.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Phebe N. Novakovic sold 129,090 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $313.57, for a total value of $40,478,751.30. Following the transaction, the chief executive officer owned 769,607 shares of the company's stock, valued at $241,325,666.99. This trade represents a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 458,260 shares of company stock worth $138,125,545. 1.50% of the stock is currently owned by corporate 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.

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