Citizens & Northern Corp Sells 256 Shares of General Dynamics Co. (NYSE:GD)

Citizens & Northern Corp cut its position in shares of General Dynamics Co. (NYSE:GD) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,466 shares of the aerospace company’s stock after selling 256 shares during the quarter. Citizens & Northern Corp’s holdings in General Dynamics were worth $1,939,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. boosted its holdings in shares of General Dynamics by 17.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 180,589 shares of the aerospace company’s stock worth $39,905,000 after buying an additional 26,206 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of General Dynamics by 4.1% in the 3rd quarter. Corient Private Wealth LLC now owns 124,086 shares of the aerospace company’s stock valued at $27,420,000 after buying an additional 4,908 shares during the period. Signaturefd LLC increased its position in General Dynamics by 26.3% in the 3rd quarter. Signaturefd LLC now owns 4,143 shares of the aerospace company’s stock valued at $915,000 after buying an additional 864 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in General Dynamics by 6.5% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 687 shares of the aerospace company’s stock worth $152,000 after buying an additional 42 shares during the period. Finally, Syon Capital LLC acquired a new stake in General Dynamics in the third quarter valued at approximately $344,000. Institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, Director Leon Rudy F. De sold 2,570 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $288.00, for a total value of $740,160.00. Following the completion of the transaction, the director now owns 5,518 shares in the company, valued at $1,589,184. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Leon Rudy F. De sold 2,570 shares of General Dynamics stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $288.00, for a total transaction of $740,160.00. Following the completion of the transaction, the director now directly owns 5,518 shares in the company, valued at $1,589,184. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the sale, the chief executive officer now owns 768,977 shares in the company, valued at approximately $218,773,956.50. The disclosure for this sale can be found here. Insiders sold 118,486 shares of company stock worth $34,391,642 over the last three months. Company insiders own 1.52% of the company’s stock.

General Dynamics Trading Down 0.6 %

General Dynamics stock traded down $1.70 during trading hours on Thursday, reaching $296.31. The stock had a trading volume of 429,931 shares, compared to its average volume of 1,079,703. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87. The company has a fifty day simple moving average of $288.18 and a 200-day simple moving average of $268.64. The stock has a market cap of $81.30 billion, a PE ratio of 24.19, a PEG ratio of 1.69 and a beta of 0.67. General Dynamics Co. has a 52 week low of $202.35 and a 52 week high of $301.48.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same period last year, the firm posted $2.64 earnings per share. General Dynamics’s quarterly revenue was up 8.6% on a year-over-year basis. Analysts forecast that General Dynamics Co. will post 14.55 EPS for the current fiscal year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 12th were given a dividend of $1.42 per share. The ex-dividend date was Thursday, April 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.92%. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s payout ratio is currently 46.33%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GD. UBS Group lifted their price target on shares of General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Susquehanna lifted their price target on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research note on Friday, April 12th. Wells Fargo & Company raised their target price on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Royal Bank of Canada reduced their target price on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Finally, JPMorgan Chase & Co. lifted their target price on General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and an average target price of $300.63.

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.