Renasant Bank Acquires 1,337 Shares of General Dynamics Corporation $GD

Renasant Bank boosted its holdings in shares of General Dynamics Corporation (NYSE:GD) by 44.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,351 shares of the aerospace company’s stock after purchasing an additional 1,337 shares during the quarter. Renasant Bank’s holdings in General Dynamics were worth $1,269,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. denkapparat Operations GmbH raised its position in shares of General Dynamics by 81.8% during the second quarter. denkapparat Operations GmbH now owns 2,644 shares of the aerospace company’s stock valued at $771,000 after buying an additional 1,190 shares during the last quarter. Wealth Alliance LLC raised its position in General Dynamics by 19.2% during the second quarter. Wealth Alliance LLC now owns 1,381 shares of the aerospace company’s stock valued at $403,000 after purchasing an additional 222 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of General Dynamics by 3.3% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 128,220 shares of the aerospace company’s stock valued at $37,397,000 after purchasing an additional 4,149 shares during the last quarter. National Pension Service boosted its holdings in shares of General Dynamics by 2.1% in the 2nd quarter. National Pension Service now owns 572,256 shares of the aerospace company’s stock worth $166,904,000 after purchasing an additional 11,864 shares during the period. Finally, Advyzon Investment Management LLC boosted its holdings in shares of General Dynamics by 7.1% in the 2nd quarter. Advyzon Investment Management LLC now owns 907 shares of the aerospace company’s stock worth $265,000 after purchasing an additional 60 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on GD shares. Citigroup lifted their price objective on shares of General Dynamics from $348.00 to $368.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Wolfe Research lifted their target price on General Dynamics from $360.00 to $400.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Seaport Res Ptn raised General Dynamics from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $400.00 price target on shares of General Dynamics in a report on Wednesday, October 8th. Finally, Vertical Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $400.00 price target for the company in a research report on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $350.89.

Insiders Place Their Bets

In related news, CEO Phebe N. Novakovic sold 129,090 shares of General Dynamics 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 of the company’s stock, valued at approximately $241,325,666.99. This trade represents a 14.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William A. Moss sold 17,700 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was 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 directly owned 16,627 shares of the company’s stock, valued at approximately $5,260,782.80. The trade was a 51.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 159,370 shares of company stock worth $50,143,516. Corporate insiders own 1.50% of the company’s stock.

General Dynamics Price Performance

Shares of NYSE GD opened at $352.17 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average price is $335.51 and its 200 day moving average price is $308.53. General Dynamics Corporation has a 52 week low of $239.20 and a 52 week high of $360.50. The firm has a market cap of $95.13 billion, a P/E ratio of 22.82, a P/E/G ratio of 2.05 and a beta of 0.46.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Friday, October 24th. The aerospace company reported $3.88 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.19. General Dynamics had a return on equity of 18.27% and a net margin of 8.18%.The business had revenue of $12.91 billion during the quarter, compared to analyst estimates of $12.49 billion. During the same quarter last year, the business posted $3.35 EPS. The company’s 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. On average, sell-side analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current year.

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.