Bangor Savings Bank Reduces Holdings in General Dynamics Corporation $GD

Bangor Savings Bank trimmed its position in shares of General Dynamics Corporation (NYSE:GD) by 7.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,953 shares of the aerospace company’s stock after selling 378 shares during the quarter. Bangor Savings Bank’s holdings in General Dynamics were worth $1,445,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC boosted its stake in shares of 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 purchasing an additional 62 shares during the period. Inlight Wealth Management LLC purchased a new stake in shares of General Dynamics during the first quarter valued at $26,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of General Dynamics during the first quarter valued at $27,000. Copia Wealth Management purchased a new stake in shares of General Dynamics during the fourth quarter valued at $27,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of General Dynamics during the fourth quarter valued at $28,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 129,090 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the completion of the sale, the chief executive officer directly owned 769,607 shares of the company’s stock, valued at approximately $241,325,666.99. This represents a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the transaction, the executive vice president owned 45,192 shares in the company, valued at approximately $14,244,518.40. This trade represents a 42.75% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 279,439 shares of company stock valued at $87,495,956. 1.50% of the stock is currently owned by corporate insiders.

General Dynamics Stock Performance

GD stock opened at $326.23 on Friday. The firm has a market cap of $87.75 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 2.02 and a beta of 0.50. The firm has a 50-day simple moving average of $313.76 and a two-hundred day simple moving average of $287.21. General Dynamics Corporation has a one year low of $239.20 and a one year high of $330.18. 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 (NYSE:GD) last released its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating the consensus estimate of $3.47 by $0.27. The business had revenue of $13.04 billion during 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 quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, equities analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 10th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics’s dividend payout ratio is presently 40.27%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GD. UBS Group boosted their target price on shares of General Dynamics from $309.00 to $333.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Robert W. Baird upped their price objective on shares of General Dynamics from $283.00 to $350.00 and gave the stock a “neutral” rating in a research note 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 note on Monday, July 14th. Jefferies Financial Group set a $325.00 price objective on shares of General Dynamics and gave the stock a “hold” rating in a research note on Wednesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft raised shares of General Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $298.00 to $342.00 in a research note on Tuesday, July 8th. Nine analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $315.78.

General Dynamics 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.