Citizens & Northern Corp Grows Stock Position in General Dynamics Corporation $GD

Citizens & Northern Corp raised its holdings in shares of General Dynamics Corporation (NYSE:GD) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,646 shares of the aerospace company’s stock after acquiring an additional 76 shares during the quarter. Citizens & Northern Corp’s holdings in General Dynamics were worth $2,230,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

A number of research firms have weighed in on GD. Seaport Res Ptn raised shares of General Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. Wall Street Zen upgraded General Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. Wolfe Research lifted their target price on General Dynamics from $360.00 to $400.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. TD Cowen upped their price target on General Dynamics from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, June 25th. Finally, Susquehanna increased their target price on General Dynamics from $315.00 to $365.00 and gave the company a “positive” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $327.44.

General Dynamics Trading Up 1.0%

NYSE GD 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 price-to-earnings-growth ratio of 2.07 and a beta of 0.47. The company’s fifty day moving average price is $327.84 and its two-hundred day moving average price is $300.15. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $347.37.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS 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 business had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. During the same period last year, the firm earned $3.26 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, research analysts predict that General Dynamics Corporation will post 14.83 earnings per share 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. Investors 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 currently 40.27%.

Insider Transactions at General Dynamics

In other General Dynamics news, VP William A. Moss sold 17,700 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $316.40, for a total transaction of $5,600,280.00. Following the completion of the sale, the vice president owned 16,627 shares in the company, valued at $5,260,782.80. The trade was a 51.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Marguerite Amy Gilliland sold 33,740 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $315.20, for a total transaction of $10,634,848.00. Following the completion of the transaction, the executive vice president directly owned 45,192 shares in the company, valued at $14,244,518.40. This represents a 42.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,020 shares of company stock valued at $86,414,503 over the last quarter. 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.