Leon Rudy F. De Sells 5,490 Shares of General Dynamics Corporation (NYSE:GD) Stock

Key Points

• Leon Rudy F. De, a director at General Dynamics, sold 5,490 shares at an average price of $312.81, decreasing his position by over 50% to 5,483 shares.
• General Dynamics reported earnings of $3.74 per share, surpassing analysts' expectations and showing an 8.9% revenue increase year-over-year to $13.04 billion.
• The company announced a quarterly dividend of $1.50 per share, resulting in an annual yield of 1.91% and a payout ratio of 40.27%.

General Dynamics Corporation (NYSE:GD - Get Free Report) Director Leon Rudy F. De sold 5,490 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $312.81, for a total value of $1,717,326.90. Following the transaction, the director owned 5,483 shares in the company, valued at $1,715,137.23. This represents a 50.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

General Dynamics Trading Up 0.4%

GD traded up $1.34 during midday trading on Tuesday, hitting $314.44. The company's stock had a trading volume of 1,140,771 shares, compared to its average volume of 1,493,179. General Dynamics Corporation has a 52-week low of $239.20 and a 52-week high of $322.50. The firm has a 50-day moving average price of $288.30 and a two-hundred day moving average price of $272.68. 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 market cap of $84.58 billion, a P/E ratio of 21.10, a PEG ratio of 1.98 and a beta of 0.46.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results 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 return on equity of 17.99% and a net margin of 8.13%. The firm had revenue of $13.04 billion for the quarter, compared to analysts' expectations of $12.13 billion. During the same quarter last year, the firm earned $3.26 earnings per share. The firm's revenue for the quarter was up 8.9% compared to the same quarter last year. On average, research analysts anticipate that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GD. GAMMA Investing LLC grew its holdings in shares of General Dynamics by 34,578.2% during the first quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company's stock valued at $339,253,000 after purchasing an additional 1,241,011 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in General Dynamics during the 4th quarter valued at approximately $279,582,000. Nuveen LLC bought a new position in General Dynamics during the 1st quarter worth $272,464,000. Ameriprise Financial Inc. increased its position in General Dynamics by 34.8% in the first quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company's stock worth $749,252,000 after buying an additional 709,782 shares during the period. Finally, Deutsche Bank AG lifted its stake in General Dynamics by 120.9% in the first quarter. Deutsche Bank AG now owns 1,261,525 shares of the aerospace company's stock valued at $343,866,000 after buying an additional 690,349 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GD has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on General Dynamics from $283.00 to $350.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Susquehanna raised their price target on General Dynamics from $315.00 to $365.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Cowen reiterated a "buy" rating on shares of General Dynamics in a report on Wednesday, June 25th. JPMorgan Chase & Co. lifted their price target on shares of General Dynamics from $284.00 to $345.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Finally, TD Cowen increased their price objective on shares of General Dynamics from $290.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target 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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