General Dynamics Co. (NYSE:GD) VP Gregory S. Gallopoulos Sells 13,567 Shares

General Dynamics Co. (NYSE:GD) VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $288.51, for a total value of $3,914,215.17. Following the sale, the vice president now owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

General Dynamics Trading Down 0.2 %

General Dynamics stock traded down $0.70 during mid-day trading on Tuesday, hitting $287.09. The stock had a trading volume of 1,422,826 shares, compared to its average volume of 1,113,738. The stock has a 50-day simple moving average of $281.23 and a two-hundred day simple moving average of $262.41. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $78.77 billion, a PE ratio of 23.47, a P/E/G ratio of 1.77 and a beta of 0.68. General Dynamics Co. has a 12 month low of $202.35 and a 12 month high of $296.50.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. During the same quarter in the prior year, the firm earned $2.64 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that General Dynamics Co. will post 14.57 EPS for the current year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be given a dividend of $1.42 per share. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.98%. General Dynamics’s payout ratio is presently 46.33%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company boosted their target price on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $305.00 to $335.00 in a report on Monday. Royal Bank of Canada cut their target price on General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. StockNews.com upgraded shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Finally, Alembic Global Advisors downgraded General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price target on the stock. in a research report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $297.06.

Hedge Funds Weigh In On General Dynamics

Several hedge funds have recently added to or reduced their stakes in GD. Redmont Wealth Advisors LLC bought a new stake in General Dynamics during the 1st quarter worth approximately $25,000. MeadowBrook Investment Advisors LLC acquired a new position in shares of General Dynamics in the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. bought a new stake in shares of General Dynamics during the fourth quarter worth $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of General Dynamics during the first quarter worth $29,000. Finally, Legend Financial Advisors Inc. raised its holdings in shares of General Dynamics by 46.8% during the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 36 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

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.