General Dynamics Corporation (NYSE:GD) EVP Sells $10,634,848.00 in Stock

Key Points

• Marguerite Amy Gilliland, EVP of General Dynamics, sold 33,740 shares of stock for approximately $10.6 million, reducing her ownership by 42.75%.
• The company reported earnings of $3.74 per share for the last quarter, exceeding estimates, with revenue growing 8.9% year-over-year to $13.04 billion.
• General Dynamics announced a quarterly dividend of $1.50 per share, representing a 1.9% dividend yield, with the ex-dividend date set for October 10th.

General Dynamics Corporation (NYSE:GD - Get Free Report) EVP Marguerite Amy Gilliland sold 33,740 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $315.20, for a total value of $10,634,848.00. Following the completion of the sale, the executive vice president directly owned 45,192 shares of the company's stock, valued at $14,244,518.40. The trade was a 42.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

General Dynamics Trading Down 0.7%

NYSE GD traded down $2.14 on Friday, reaching $313.70. The stock had a trading volume of 900,532 shares, compared to its average volume of 1,188,112. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 0.32. General Dynamics Corporation has a 12-month low of $239.20 and a 12-month high of $322.50. The firm has a market capitalization of $84.38 billion, a price-to-earnings ratio of 21.05, a P/E/G ratio of 1.92 and a beta of 0.48. The stock has a fifty day moving average price of $298.76 and a two-hundred day moving average price of $277.44.

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

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be given a $1.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. General Dynamics's payout ratio is presently 40.27%.

Institutional Investors Weigh In On General Dynamics

Institutional investors have recently modified their holdings of the stock. 1858 Wealth Management LLC boosted its holdings in General Dynamics by 1.0% during the second quarter. 1858 Wealth Management LLC now owns 3,256 shares of the aerospace company's stock valued at $950,000 after acquiring an additional 32 shares during the period. Nicholson Wealth Management Group LLC boosted its stake in General Dynamics by 0.5% during the second quarter. Nicholson Wealth Management Group LLC now owns 6,582 shares of the aerospace company's stock worth $1,920,000 after acquiring an additional 33 shares in the last quarter. Gilbert & Cook Inc. lifted its position in shares of General Dynamics by 1.4% during the second quarter. Gilbert & Cook Inc. now owns 2,389 shares of the aerospace company's stock valued at $697,000 after purchasing an additional 33 shares in the last quarter. Crewe Advisors LLC grew its stake in General Dynamics by 10.9% during the second quarter. Crewe Advisors LLC now owns 347 shares of the aerospace company's stock valued at $101,000 after acquiring an additional 34 shares in the last quarter. Finally, CVA Family Office LLC grew its position in shares of General Dynamics by 1.5% in the 2nd quarter. CVA Family Office LLC now owns 2,256 shares of the aerospace company's stock worth $658,000 after buying an additional 34 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on GD shares. Citigroup increased their target price on shares of General Dynamics from $348.00 to $368.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Morgan Stanley lowered their target price on shares of General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group set a $325.00 price objective on General Dynamics and gave the company a "hold" rating in a report on Wednesday, July 9th. Cowen restated a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. Finally, Barclays boosted their target price on General Dynamics from $285.00 to $350.00 and gave the company an "overweight" rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, General Dynamics presently has a consensus rating of "Hold" and a consensus target price of $315.78.

General Dynamics Company Profile

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.