General Dynamics (NYSE:GD) EVP Sells $12,596,179.20 in Stock

General Dynamics Corporation (NYSE:GD) EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the sale, the executive vice president directly owned 38,975 shares of the company’s stock, valued at $13,457,677.75. This represents a 48.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Mark Lagrand Burns also recently made the following trade(s):

• On Monday, May 11th, Mark Lagrand Burns sold 36,230 shares of General Dynamics stock. The stock was sold at an average price of $343.49, for a total transaction of $12,444,642.70.
• On Wednesday, March 11th, Mark Lagrand Burns sold 10,153 shares of General Dynamics stock. The stock was sold at an average price of $354.95, for a total transaction of $3,603,807.35.

General Dynamics Stock Performance

GD stock opened at $334.29 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $90.40 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 2.11 and a beta of 0.34. General Dynamics Corporation has a 12 month low of $268.10 and a 12 month high of $369.70. The firm has a 50 day moving average of $343.59 and a two-hundred day moving average of $346.67.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, topping the consensus estimate of $3.67 by $0.43. The company had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.66 earnings per share. As a group, equities analysts anticipate that General Dynamics Corporation will post 16.62 EPS for the current fiscal year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Friday, April 10th were issued a dividend of $1.59 per share. The ex-dividend date of this dividend was Friday, April 10th. This represents a $6.36 annualized dividend and a dividend yield of 1.9%. This is an increase from General Dynamics’s previous quarterly dividend of $1.50. General Dynamics’s payout ratio is currently 40.03%.

Institutional Trading of General Dynamics

Hedge funds have recently bought and sold shares of the stock. WASHINGTON TRUST Co grew its holdings in General Dynamics by 453.3% during the 3rd quarter. WASHINGTON TRUST Co now owns 9,418 shares of the aerospace company’s stock worth $3,212,000 after acquiring an additional 7,716 shares during the last quarter. Rockland Trust Co. grew its holdings in General Dynamics by 703.4% during the 3rd quarter. Rockland Trust Co. now owns 10,548 shares of the aerospace company’s stock worth $3,597,000 after acquiring an additional 9,235 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in General Dynamics by 3.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 917,424 shares of the aerospace company’s stock worth $312,842,000 after acquiring an additional 32,262 shares during the last quarter. Gold Investment Management Ltd. grew its holdings in General Dynamics by 73.5% during the 3rd quarter. Gold Investment Management Ltd. now owns 10,700 shares of the aerospace company’s stock worth $3,649,000 after acquiring an additional 4,532 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in General Dynamics by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company’s stock worth $8,338,169,000 after acquiring an additional 528,769 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

GD has been the subject of several recent analyst reports. Argus upped their price objective on shares of General Dynamics from $380.00 to $395.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $385.00 price objective on shares of General Dynamics in a report on Thursday, April 30th. Morgan Stanley increased their price target on shares of General Dynamics from $410.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. The Goldman Sachs Group reduced their price target on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating for the company in a report on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $388.20.

General Dynamics Company Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.