Nixon Peabody Trust Co. Cuts Holdings in General Dynamics Corporation $GD

Nixon Peabody Trust Co. cut its holdings in General Dynamics Corporation (NYSE:GD) by 46.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,224 shares of the aerospace company’s stock after selling 25,734 shares during the period. Nixon Peabody Trust Co.’s holdings in General Dynamics were worth $10,306,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. State Street Corp grew its position in shares of General Dynamics by 1.1% during the 2nd quarter. State Street Corp now owns 11,140,437 shares of the aerospace company’s stock valued at $3,249,220,000 after acquiring an additional 119,664 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of General Dynamics by 25.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,439,720 shares of the aerospace company’s stock valued at $1,003,444,000 after buying an additional 691,340 shares in the last quarter. Invesco Ltd. boosted its holdings in General Dynamics by 0.4% in the 2nd quarter. Invesco Ltd. now owns 2,385,573 shares of the aerospace company’s stock worth $695,776,000 after buying an additional 9,283 shares during the period. Franklin Resources Inc. grew its stake in General Dynamics by 2.5% in the 2nd quarter. Franklin Resources Inc. now owns 1,712,190 shares of the aerospace company’s stock valued at $499,377,000 after buying an additional 41,349 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of General Dynamics by 1.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,598,847 shares of the aerospace company’s stock worth $466,320,000 after acquiring an additional 16,459 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Insider Transactions at General Dynamics

In related news, VP David Paddock sold 20,360 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $334.92, for a total transaction of $6,818,971.20. Following the sale, the vice president directly owned 36,644 shares of the company’s stock, valued at approximately $12,272,808.48. This represents a 35.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by insiders.

General Dynamics Trading Down 0.9%

NYSE:GD opened at $342.19 on Monday. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $360.50. The stock has a market cap of $92.43 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 1.70 and a beta of 0.40. The company has a 50-day moving average price of $341.84 and a 200-day moving average price of $323.70. The company has a current ratio of 1.40, a quick ratio of 0.87 and a debt-to-equity ratio of 0.29.

General Dynamics (NYSE:GD) last announced its earnings results on Friday, October 24th. The aerospace company reported $3.88 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.19. General Dynamics had a net margin of 8.18% and a return on equity of 18.27%. The firm had revenue of $12.91 billion for the quarter, compared to analysts’ expectations of $12.49 billion. During the same quarter in the previous year, the business posted $3.35 EPS. The company’s quarterly revenue was up 10.6% on a year-over-year basis. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. Equities analysts predict that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Friday, January 16th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, January 16th. General Dynamics’s payout ratio is currently 38.89%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GD shares. Robert W. Baird set a $390.00 price target on General Dynamics in a research report on Monday, October 27th. Bank of America increased their target price on shares of General Dynamics from $370.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Vertical Research upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $400.00 target price on the stock in a research note on Monday, October 27th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $400.00 price objective on shares of General Dynamics in a report on Wednesday, October 8th. Finally, Argus boosted their price target on shares of General Dynamics from $345.00 to $380.00 and gave the stock a “buy” rating in a research note on Wednesday, November 19th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and a consensus price target of $358.50.

General Dynamics Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.