Somerset Trust Co Sells 90 Shares of General Dynamics Corporation $GD

Somerset Trust Co lessened its stake in General Dynamics Corporation (NYSE:GD) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,794 shares of the aerospace company’s stock after selling 90 shares during the period. General Dynamics comprises about 1.4% of Somerset Trust Co’s holdings, making the stock its 26th largest holding. Somerset Trust Co’s holdings in General Dynamics were worth $4,315,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rialto Wealth Management LLC raised its position in General Dynamics by 213.8% during the 1st 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 last quarter. Inlight Wealth Management LLC bought a new position in General Dynamics during the 1st quarter valued at approximately $26,000. Copia Wealth Management bought a new position in General Dynamics during the 4th quarter valued at approximately $27,000. Smallwood Wealth Investment Management LLC bought a new position in General Dynamics during the 1st quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC bought a new position in General Dynamics during the 4th quarter valued at approximately $28,000. Institutional investors own 86.14% of the company’s stock.

Insider Activity

In other news, EVP Marguerite Amy Gilliland sold 33,740 shares of the stock in a transaction that occurred on 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 sale, the executive vice president owned 45,192 shares in the company, valued at $14,244,518.40. This represents a 42.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Phebe N. Novakovic sold 129,090 shares of the 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 sale, the chief executive officer owned 769,607 shares in the company, valued at approximately $241,325,666.99. This represents a 14.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 279,439 shares of company stock valued at $87,495,956. Company insiders own 1.50% of the company’s stock.

General Dynamics Stock Down 1.0%

Shares of NYSE:GD opened at $326.23 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $313.76 and a two-hundred day simple moving average of $287.21. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $330.18. The stock has a market capitalization of $87.75 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 2.02 and a beta of 0.50.

General Dynamics (NYSE:GD) last issued 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. The firm had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.The company’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the company earned $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. On average, 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 announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, October 10th. General Dynamics’s dividend payout ratio is currently 40.27%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Barclays upped their price target on General Dynamics from $285.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday, July 29th. Robert W. Baird upped their target price on General Dynamics from $283.00 to $350.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Jefferies Financial Group set a $325.00 target price on General Dynamics and gave the stock a “hold” rating in a report on Wednesday, July 9th. UBS Group upped their target price on General Dynamics from $309.00 to $333.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on General Dynamics from $284.00 to $345.00 and gave the stock an “overweight” rating in a 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $315.78.

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.