General Dynamics (NYSE:GD) CEO Phebe Novakovic Sells 51,568 Shares

Key Points

• CEO Phebe Novakovic sold 51,568 General Dynamics shares at an average price of $382.58, generating approximately $19.7 million; her remaining stake fell 6.3% to 766,457 shares.
• General Dynamics reported quarterly EPS of $4.24, beating estimates of $3.96, while revenue rose 8.1% year over year to $14.09 billion. Shares traded near $386, close to their 52-week high.
• The company declared a quarterly dividend of $1.59, equivalent to $6.36 annually and a 1.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $409.68.

General Dynamics Corporation (NYSE:GD - Get Free Report) CEO Phebe Novakovic sold 51,568 shares of the company's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $382.58, for a total transaction of $19,728,885.44. Following the sale, the chief executive officer owned 766,457 shares of the company's stock, valued at $293,231,119.06. This represents a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

General Dynamics Trading Up 1.0%

Shares of GD stock traded up $3.64 during mid-day trading on Tuesday, reaching $386.07. The stock had a trading volume of 1,502,489 shares, compared to its average volume of 1,360,045. The firm has a market capitalization of $104.45 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 2.22 and a beta of 0.32. The stock's 50-day moving average price is $361.54 and its two-hundred day moving average price is $353.01. The company has a current ratio of 1.44, a quick ratio of 0.96 and a debt-to-equity ratio of 0.23. General Dynamics Corporation has a 52-week low of $306.77 and a 52-week high of $400.00.

General Dynamics (NYSE:GD - Get Free Report) last posted its earnings results on Wednesday, July 29th. The aerospace company reported $4.24 earnings per share for the quarter, topping analysts' consensus estimates of $3.96 by $0.28. The company had revenue of $14.09 billion during the quarter, compared to analyst estimates of $13.52 billion. General Dynamics had a net margin of 8.18% and a return on equity of 17.43%. General Dynamics's revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.74 earnings per share. General Dynamics has set its FY 2026 guidance at 16.800-16.900 EPS. Equities analysts expect that General Dynamics Corporation will post 16.97 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be issued a $1.59 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 annualized dividend and a yield of 1.6%. General Dynamics's dividend payout ratio (DPR) is 38.80%.

Hedge Funds Weigh In On General Dynamics

Several institutional investors and hedge funds have recently added to or reduced their stakes in GD. Willner & Heller LLC grew its stake in shares of General Dynamics by 1.4% in the second quarter. Willner & Heller LLC now owns 2,050 shares of the aerospace company's stock valued at $726,000 after buying an additional 28 shares in the last quarter. Meriwether Wealth & Planning LLC lifted its stake in General Dynamics by 0.8% in the second quarter. Meriwether Wealth & Planning LLC now owns 3,443 shares of the aerospace company's stock valued at $1,220,000 after acquiring an additional 28 shares during the last quarter. Brown Miller Wealth Management LLC lifted its stake in General Dynamics by 0.3% in the fourth quarter. Brown Miller Wealth Management LLC now owns 8,889 shares of the aerospace company's stock valued at $2,993,000 after acquiring an additional 29 shares during the last quarter. Steph & Co. increased its stake in shares of General Dynamics by 65.2% during the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company's stock worth $26,000 after purchasing an additional 30 shares during the last quarter. Finally, Klingman & Associates LLC lifted its stake in General Dynamics by 3.3% in the 1st quarter. Klingman & Associates LLC now owns 949 shares of the aerospace company's stock valued at $326,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on GD shares. Morgan Stanley upped their target price on General Dynamics from $435.00 to $465.00 and gave the company an "overweight" rating in a report on Thursday, July 30th. TD Cowen upped their price objective on shares of General Dynamics from $390.00 to $420.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. JPMorgan Chase & Co. raised their target price on shares of General Dynamics from $385.00 to $400.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Wells Fargo & Company lifted their target price on shares of General Dynamics from $400.00 to $440.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, DA Davidson reduced their price target on shares of General Dynamics from $384.00 to $375.00 in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $409.68.

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.

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