General Dynamics Corporation $GD Stock Position Lifted by Citizens & Northern Corp

Citizens & Northern Corp grew its stake in shares of General Dynamics Corporation (NYSE:GD) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 7,646 shares of the aerospace company’s stock after acquiring an additional 76 shares during the period. Citizens & Northern Corp’s holdings in General Dynamics were worth $2,230,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of GD. Smallwood Wealth Investment Management LLC acquired a new stake in General Dynamics during the first quarter valued at approximately $27,000. Quarry LP increased its holdings in shares of General Dynamics by 783.3% in the first quarter. Quarry LP now owns 106 shares of the aerospace company’s stock valued at $29,000 after buying an additional 94 shares in the last quarter. Abound Financial LLC acquired a new stake in shares of General Dynamics during the 1st quarter valued at $32,000. Nova Wealth Management Inc. acquired a new stake in shares of General Dynamics during the 1st quarter valued at $33,000. Finally, Harbor Asset Planning Inc. acquired a new position in shares of General Dynamics in the 2nd quarter worth $35,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at General Dynamics

In related 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 value of $40,478,751.30. Following the transaction, the chief executive officer directly owned 769,607 shares in the company, valued at approximately $241,325,666.99. This trade represents a 14.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Christopher J. Brady sold 8,150 shares of the business’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 transaction, the vice president directly owned 22,818 shares of the company’s stock, valued at approximately $7,328,685.24. This represents a 26.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,020 shares of company stock valued at $86,414,503. 1.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on GD. Cowen reissued a “buy” rating on shares of General Dynamics in a research note on Wednesday, June 25th. Sanford C. Bernstein set a $314.00 price target on General Dynamics and gave the company a “market perform” rating in a research report on Monday, July 14th. Citigroup increased their price objective on General Dynamics from $348.00 to $368.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Wolfe Research lifted their target price on General Dynamics from $360.00 to $400.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Finally, JPMorgan Chase & Co. upped their target price on General Dynamics from $284.00 to $345.00 and gave the company an “overweight” rating in a 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 assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $327.44.

General Dynamics Stock Performance

GD stock opened at $340.73 on Wednesday. The company has a market capitalization of $91.65 billion, a price-to-earnings ratio of 22.87, a P/E/G ratio of 2.07 and a beta of 0.47. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $347.37. The firm has a 50 day moving average of $327.84 and a two-hundred day moving average of $300.15. 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) last announced its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share 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 company had revenue of $13.04 billion during the quarter, compared to analysts’ expectations of $12.13 billion. During the same quarter in the previous year, the firm earned $3.26 earnings per share. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts anticipate that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared 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. This represents a $6.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, October 10th. General Dynamics’s dividend payout ratio (DPR) is 40.27%.

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.