Synovus Financial Corp Sells 6,876 Shares of General Dynamics Corporation $GD

Key Points

• Synovus Financial Corp has reduced its holdings in General Dynamics Corporation by 15.8%, selling 6,876 shares and now owning 36,552 shares valued at approximately $9.96 million.
• General Dynamics announced a quarterly dividend of $1.50 per share, which will be paid to shareholders on November 14th, representing an annual yield of 1.9%.
• In covering the financial performance, General Dynamics reported earnings per share of $3.74 for the last quarter, exceeding estimates, with revenue increasing by 8.9% year-over-year to $13.04 billion.

Synovus Financial Corp lowered its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 15.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,552 shares of the aerospace company's stock after selling 6,876 shares during the quarter. Synovus Financial Corp's holdings in General Dynamics were worth $9,963,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Rialto Wealth Management LLC boosted its position in General Dynamics by 213.8% during the first quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock valued at $25,000 after acquiring an additional 62 shares during the last quarter. Inlight Wealth Management LLC bought a new stake in General Dynamics during the first quarter valued at $26,000. Smallwood Wealth Investment Management LLC bought a new stake in General Dynamics during the first quarter valued at $27,000. Copia Wealth Management bought a new stake in General Dynamics during the fourth quarter valued at $27,000. Finally, Heck Capital Advisors LLC bought a new stake in General Dynamics during the fourth quarter valued at $28,000. Institutional investors own 86.14% of the company's stock.

General Dynamics Price Performance

Shares of NYSE GD opened at $319.3560 on Friday. General Dynamics Corporation has a fifty-two week low of $239.20 and a fifty-two week high of $322.50. The stock has a market cap of $85.90 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 1.96 and a beta of 0.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36. The firm's 50-day simple moving average is $302.55 and its 200 day simple moving average is $279.35.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, beating 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 business had revenue of $13.04 billion for the quarter, compared to analysts' expectations of $12.13 billion. During the same quarter last year, the firm earned $3.26 EPS. The firm'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. As a group, research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GD shares. Susquehanna increased their price objective on shares of General Dynamics from $315.00 to $365.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Sanford C. Bernstein set a $314.00 price objective on shares of General Dynamics and gave the stock a "market perform" rating in a research report on Monday, July 14th. Cowen reissued a "buy" rating on shares of General Dynamics in a research report on Wednesday, June 25th. Robert W. Baird increased their price objective on shares of General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Wolfe Research raised shares of General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price objective on the stock in a research report on Thursday, July 24th. Nine analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, General Dynamics currently has an average rating of "Hold" and a consensus target price of $315.78.

Insider Transactions at General Dynamics

In other General Dynamics news, VP William A. Moss sold 17,700 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $316.40, for a total value of $5,600,280.00. Following the completion of the sale, the vice president 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Leon Rudy F. De sold 5,490 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $312.81, for a total transaction of $1,717,326.90. Following the completion of the sale, the director owned 5,483 shares of the company's stock, valued at approximately $1,715,137.23. This trade represents a 50.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 448,900 shares of company stock worth $135,121,890. Company insiders own 1.50% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.