General Dynamics Corporation (NYSE:GD) CEO Phebe N. Novakovic Sells 7,639 Shares

General Dynamics Corporation (NYSE:GD - Get Free Report) CEO Phebe N. Novakovic sold 7,639 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $280.44, for a total transaction of $2,142,281.16. Following the transaction, the chief executive officer now directly owns 769,607 shares of the company's stock, valued at $215,828,587.08. This trade represents a 0.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

General Dynamics Trading Up 0.7%

Shares of GD stock traded up $1.86 on Tuesday, reaching $281.15. The company had a trading volume of 984,095 shares, compared to its average volume of 1,387,781. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The stock has a market cap of $75.46 billion, a PE ratio of 19.50, a PEG ratio of 1.88 and a beta of 0.46. The company has a 50-day moving average of $275.30 and a 200-day moving average of $266.48. General Dynamics Corporation has a 12 month low of $239.20 and a 12 month high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, beating analysts' consensus estimates of $3.43 by $0.23. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The company had revenue of $12.22 billion during the quarter, compared to analysts' expectations of $11.92 billion. During the same period in the prior year, the business posted $2.88 EPS. General Dynamics's revenue was up 13.9% on a year-over-year basis. On average, equities analysts forecast that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a dividend of $1.50 per share. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a yield of 2.13%. General Dynamics's payout ratio is 41.61%.

Institutional Trading of General Dynamics

A number of large investors have recently bought and sold shares of the business. Bontempo Ohly Capital Mgmt LLC increased its stake in General Dynamics by 5.4% during the 1st quarter. Bontempo Ohly Capital Mgmt LLC now owns 16,381 shares of the aerospace company's stock worth $4,465,000 after purchasing an additional 838 shares in the last quarter. Nova Wealth Management Inc. bought a new stake in General Dynamics during the 1st quarter worth approximately $33,000. Strs Ohio bought a new stake in General Dynamics during the 1st quarter worth approximately $16,651,000. GK Wealth Management LLC bought a new stake in General Dynamics during the 1st quarter worth approximately $205,000. Finally, Jacobi Capital Management LLC increased its stake in General Dynamics by 6.4% during the 1st quarter. Jacobi Capital Management LLC now owns 8,078 shares of the aerospace company's stock worth $2,202,000 after purchasing an additional 489 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on GD shares. William Blair downgraded shares of General Dynamics from an "outperform" rating to a "market perform" rating in a research note on Friday, February 21st. Wells Fargo & Company decreased their target price on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. UBS Group upped their target price on shares of General Dynamics from $268.00 to $279.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Citigroup decreased their target price on shares of General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Susquehanna upped their target price on shares of General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a research note on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $293.00.

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.

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