General Dynamics Corporation (NYSE:GD) EVP Mark Lagrand Burns Sells 43,860 Shares

Key Points

• Mark Lagrand Burns, EVP of General Dynamics, sold 43,860 shares on July 28th, marking a 52.38% decrease in his ownership, with total sales exceeding $13.6 million.
• General Dynamics reported a quarterly EPS of $3.74, surpassing estimates, while revenue was up by 8.9% year-over-year at $13.04 billion.
• The company declared a quarterly dividend of $1.50 per share, representing an annualized yield of 1.91%.

General Dynamics Corporation (NYSE:GD - Get Free Report) EVP Mark Lagrand Burns sold 43,860 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $312.28, for a total transaction of $13,696,600.80. Following the transaction, the executive vice president directly owned 39,875 shares in the company, valued at $12,452,165. The trade was a 52.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, July 25th, Mark Lagrand Burns sold 32,560 shares of General Dynamics stock. The shares were sold at an average price of $313.95, for a total transaction of $10,222,212.00.

General Dynamics Stock Performance

NYSE:GD traded up $1.34 during trading hours on Tuesday, hitting $314.44. 1,140,771 shares of the company traded hands, compared to its average volume of 1,493,179. The stock has a market capitalization of $84.58 billion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 1.98 and a beta of 0.46. The company has a current ratio of 1.36, a quick ratio of 0.83 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average of $288.30 and a 200 day moving average of $272.68. General Dynamics Corporation has a twelve month low of $239.20 and a twelve month high of $322.50.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The business's revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.26 EPS. On average, analysts forecast that General Dynamics Corporation will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.91%. The ex-dividend date is Thursday, July 3rd. General Dynamics's dividend payout ratio (DPR) is presently 40.27%.

Institutional Investors Weigh In On General Dynamics

Institutional investors and hedge funds have recently bought and sold shares of the business. Rialto Wealth Management LLC grew its holdings in General Dynamics by 213.8% during the 1st quarter. Rialto Wealth Management LLC now owns 91 shares of the aerospace company's stock worth $25,000 after acquiring an additional 62 shares during the last quarter. Inlight Wealth Management LLC bought a new stake in General Dynamics during the 1st quarter worth about $26,000. Copia Wealth Management bought a new stake in General Dynamics during the 4th quarter worth about $27,000. Smallwood Wealth Investment Management LLC bought a new stake in General Dynamics during the 1st quarter worth about $27,000. Finally, Hoey Investments Inc. bought a new stake in General Dynamics during the 4th quarter worth about $28,000. Institutional investors own 86.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GD. Sanford C. Bernstein set a $314.00 target price on shares of General Dynamics and gave the stock a "market perform" rating in a research report on Monday, July 14th. UBS Group boosted their target price on shares of General Dynamics from $309.00 to $333.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. boosted their target price on shares of General Dynamics from $284.00 to $345.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Citigroup boosted their target price on shares of General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Wolfe Research upgraded shares of General Dynamics from a "peer perform" rating to an "outperform" rating and set a $360.00 price objective for the company in a research note on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $315.78.

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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