Insider Selling: General Dynamics (NYSE:GD) CEO Sells $16,391,481.26 in Stock

Key Points

• General Dynamics CEO Phebe Novakovic sold 45,353 shares for about $16.39 million, reducing her direct ownership by 5.59% to 766,457 shares.
• The company reported quarterly EPS of $4.49 and revenue of $14.57 billion, beating analyst estimates; revenue rose 12.9% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $408.94.

General Dynamics Corporation (NYSE:GD - Get Free Report) CEO Phebe Novakovic sold 45,353 shares of General Dynamics stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $361.42, for a total transaction of $16,391,481.26. Following the transaction, the chief executive officer directly owned 766,457 shares of the company's stock, valued at approximately $277,012,888.94. This trade represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

General Dynamics Stock Performance

Shares of GD traded up $7.88 during trading hours on Monday, hitting $361.94. The company had a trading volume of 922,621 shares, compared to its average volume of 1,303,250. The firm has a market cap of $97.80 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 1.99 and a beta of 0.30. The business has a fifty day moving average of $349.76 and a 200-day moving average of $355.05. General Dynamics Corporation has a 12 month low of $306.77 and a 12 month high of $400.00. The company has a quick ratio of 0.94, a current ratio of 1.43 and a debt-to-equity ratio of 0.23.

General Dynamics (NYSE:GD - Get Free Report) last announced its earnings results on Friday, October 30th. The aerospace company reported $4.49 EPS for the quarter, topping the consensus estimate of $4.12 by $0.37. General Dynamics had a net margin of 8.24% and a return on equity of 17.60%. The business had revenue of $14.57 billion during the quarter, compared to the consensus estimate of $13.72 billion. During the same quarter in the previous year, the firm posted $3.88 EPS. General Dynamics's revenue was up 12.9% compared to the same quarter last year. Equities analysts anticipate that General Dynamics Corporation will post 17.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on GD shares. Susquehanna upped their price objective on General Dynamics from $420.00 to $455.00 and gave the company a "positive" rating in a report on Thursday, July 30th. TD Cowen dropped their target price on General Dynamics from $420.00 to $380.00 and set a "buy" rating for the company in a report on Friday, October 9th. Morgan Stanley boosted their target price on shares of General Dynamics from $465.00 to $480.00 and gave the company an "overweight" rating in a research report on Tuesday, November 3rd. UBS Group upped their price target on shares of General Dynamics from $395.00 to $408.00 and gave the company a "neutral" rating in a research note on Tuesday, September 8th. Finally, Wells Fargo & Company raised their price target on shares of General Dynamics from $400.00 to $440.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Eleven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $408.94.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GD. Bessemer Group Inc. boosted its position in General Dynamics by 9.4% in the third quarter. Bessemer Group Inc. now owns 9,216 shares of the aerospace company's stock valued at $3,057,000 after buying an additional 791 shares in the last quarter. Ground Swell Capital LLC acquired a new position in shares of General Dynamics during the third quarter worth $400,000. IFG Advisory LLC lifted its stake in shares of General Dynamics by 8.1% in the 3rd quarter. IFG Advisory LLC now owns 3,326 shares of the aerospace company's stock valued at $1,104,000 after acquiring an additional 248 shares during the last quarter. Croban boosted its holdings in shares of General Dynamics by 0.9% during the 3rd quarter. Croban now owns 4,709 shares of the aerospace company's stock valued at $1,562,000 after acquiring an additional 40 shares in the last quarter. Finally, AlTi Global Inc. boosted its holdings in shares of General Dynamics by 133.2% during the 3rd quarter. AlTi Global Inc. now owns 4,116 shares of the aerospace company's stock valued at $1,366,000 after acquiring an additional 2,351 shares in the last quarter. Institutional investors own 86.14% of the company's stock.

General Dynamics Company Profile

General Dynamics Corporation is an aerospace and defense company that develops and manufactures products and provides services for commercial, government and military customers. Its businesses span aerospace, marine systems, combat systems and defense technologies.

The company makes Gulfstream business jets and provides aircraft services. Its marine systems operations design and build submarines and surface ships, while its combat systems business produces military vehicles, weapons systems and munitions.

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