Insider Selling: General Dynamics (NYSE:GD) Director Sells $2,000,200.00 in Stock

Key Points

• General Dynamics director Mark Malcolm sold 5,480 shares on June 17 at an average price of $365.00, totaling about $2.0 million and reducing his position by 33.99%.
• The stock slipped 1.8% to $343.54, while the company remains near the middle of its 52-week range and has a market cap of about $92.9 billion.
• General Dynamics recently topped quarterly expectations, posting EPS of $4.10 versus $3.67 expected and revenue of $13.48 billion, and it also declared a quarterly dividend of $1.59 per share.

General Dynamics Corporation (NYSE:GD - Get Free Report) Director Mark Malcolm sold 5,480 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total value of $2,000,200.00. Following the completion of the sale, the director directly owned 10,643 shares of the company's stock, valued at approximately $3,884,695. The trade was a 33.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

General Dynamics Stock Down 1.8%

GD traded down $6.47 during trading on Monday, reaching $343.54. 1,578,728 shares of the stock were exchanged, compared to its average volume of 1,389,480. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. The stock's 50 day moving average price is $341.10 and its two-hundred day moving average price is $347.30. General Dynamics Corporation has a twelve month low of $278.23 and a twelve month high of $369.70. The stock has a market cap of $92.90 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 2.17 and a beta of 0.34.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating analysts' consensus estimates of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm had revenue of $13.48 billion during the quarter, compared to analysts' expectations of $12.70 billion. During the same quarter last year, the company posted $3.66 earnings per share. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. Equities analysts expect that General Dynamics Corporation will post 16.62 EPS for the current year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Thursday, July 2nd will be paid a $1.59 dividend. This represents a $6.36 annualized dividend and a yield of 1.9%. The ex-dividend date is Thursday, July 2nd. General Dynamics's dividend payout ratio (DPR) is 40.03%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dunhill Financial LLC grew its stake in shares of General Dynamics by 620.0% in the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company's stock valued at $25,000 after acquiring an additional 62 shares in the last quarter. KERR FINANCIAL PLANNING Corp acquired a new stake in General Dynamics in the 3rd quarter worth about $25,000. Dagco Inc. bought a new stake in General Dynamics in the 4th quarter valued at about $25,000. Whipplewood Advisors LLC grew its position in shares of General Dynamics by 1,725.0% during the 1st quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company's stock worth $25,000 after purchasing an additional 69 shares in the last quarter. Finally, Burkett Financial Services LLC grew its position in shares of General Dynamics by 650.0% during the 3rd quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company's stock worth $26,000 after purchasing an additional 65 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GD has been the topic of a number of recent analyst reports. DA Davidson lowered their price target on General Dynamics from $384.00 to $375.00 in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft cut their price objective on General Dynamics from $387.00 to $377.00 and set a "hold" rating for the company in a research report on Wednesday, May 6th. Weiss Ratings lowered General Dynamics from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, May 19th. The Goldman Sachs Group dropped their price target on General Dynamics from $327.00 to $313.00 and set a "sell" rating on the stock in a research note on Monday, May 4th. Finally, BNP Paribas Exane cut their price target on General Dynamics from $430.00 to $390.00 and set an "outperform" rating for the company in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, General Dynamics currently has an average rating of "Moderate Buy" and a consensus target price of $388.40.

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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