General Dynamics Corporation (NYSE:GD) EVP Mark Lagrand Burns Sells 32,560 Shares

Key Points

• Mark Lagrand Burns, EVP of General Dynamics Corporation, sold 32,560 shares on July 25th, representing a 44.95% decrease in his position, with a total transaction value of over $10 million.
• General Dynamics reported a quarterly revenue of $13.04 billion, exceeding expectations and marking an 8.9% increase year-over-year, alongside an EPS of $3.74.
• The company announced a quarterly dividend of $1.50 per share, providing a dividend yield of 1.91% and a payout ratio of 40.27%.

General Dynamics Corporation (NYSE:GD - Get Free Report) EVP Mark Lagrand Burns sold 32,560 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $313.95, for a total value of $10,222,212.00. Following the completion of the transaction, the executive vice president directly owned 39,875 shares in the company, valued at $12,518,756.25. This trade represents a 44.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, July 28th, Mark Lagrand Burns sold 43,860 shares of General Dynamics stock. The shares were sold at an average price of $312.28, for a total value of $13,696,600.80.

General Dynamics Trading Up 0.4%

NYSE:GD traded up $1.34 on Tuesday, reaching $314.44. The company's stock had a trading volume of 1,140,771 shares, compared to its average volume of 1,493,179. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $322.50. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32. The firm has a market cap of $84.58 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 1.98 and a beta of 0.46. The stock has a 50 day moving average price of $288.30 and a 200 day moving average price of $272.68.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.27. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%. The firm had revenue of $13.04 billion for the quarter, compared to the consensus estimate of $12.13 billion. During the same quarter in the previous year, the business earned $3.26 EPS. The company's quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities analysts anticipate that General Dynamics Corporation will post 14.83 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be given a dividend of $1.50 per share. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 annualized dividend and a dividend yield of 1.91%. General Dynamics's dividend payout ratio is currently 40.27%.

Analyst Ratings Changes

GD has been the topic of a number of recent research reports. Barclays increased their price target on General Dynamics from $285.00 to $350.00 and gave the stock an "overweight" rating in a research report on Tuesday. Citigroup increased their price target on General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. TD Cowen increased their price target on General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Deutsche Bank Aktiengesellschaft raised General Dynamics from a "hold" rating to a "buy" rating and increased their price target for the stock from $298.00 to $342.00 in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company dropped their price target on General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $315.78.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Capital Research Global Investors lifted its position in General Dynamics by 7.4% during the 4th quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company's stock worth $1,774,381,000 after acquiring an additional 463,497 shares during the period. Geode Capital Management LLC raised its stake in shares of General Dynamics by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 5,688,672 shares of the aerospace company's stock worth $1,496,939,000 after buying an additional 131,268 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of General Dynamics by 4.9% during the 1st quarter. JPMorgan Chase & Co. now owns 5,502,305 shares of the aerospace company's stock worth $1,499,819,000 after buying an additional 256,687 shares in the last quarter. Sanders Capital LLC raised its stake in shares of General Dynamics by 0.8% during the 4th quarter. Sanders Capital LLC now owns 4,212,422 shares of the aerospace company's stock worth $1,109,931,000 after buying an additional 33,962 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of General Dynamics by 5.2% during the 4th quarter. Royal Bank of Canada now owns 2,935,046 shares of the aerospace company's stock worth $773,355,000 after buying an additional 145,978 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

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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