Mark Lagrand Burns Sells 36,480 Shares of General Dynamics (NYSE:GD) Stock

Key Points

• General Dynamics EVP Mark Lagrand Burns sold 36,480 shares on May 12 at an average price of $345.29, totaling about $12.6 million. After the sale, he still held 38,975 shares, and the transaction reduced his position by 48.35%.
• The company reported strong first-quarter results, with EPS of $4.10 beating expectations of $3.67 and revenue of $13.48 billion topping estimates. Quarterly revenue rose 10.3% year over year.
• General Dynamics raised its dividend and remains well-regarded by analysts, increasing the quarterly payout to $1.59 per share from $1.50. Wall Street’s consensus rating is “Moderate Buy,” with a target price of $388.20.

General Dynamics Corporation (NYSE:GD - Get Free Report) EVP Mark Lagrand Burns sold 36,480 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total value of $12,596,179.20. Following the completion of the transaction, the executive vice president owned 38,975 shares in the company, valued at $13,457,677.75. This trade represents a 48.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Mark Lagrand Burns also recently made the following trade(s):

• On Monday, May 11th, Mark Lagrand Burns sold 36,230 shares of General Dynamics stock. The stock was sold at an average price of $343.49, for a total value of $12,444,642.70.
• On Wednesday, March 11th, Mark Lagrand Burns sold 10,153 shares of General Dynamics stock. The stock was sold at an average price of $354.95, for a total value of $3,603,807.35.

General Dynamics Stock Performance

GD stock traded down $4.69 during midday trading on Wednesday, hitting $341.77. The stock had a trading volume of 507,774 shares, compared to its average volume of 1,437,855. The firm has a market capitalization of $92.42 billion, a price-to-earnings ratio of 21.51, a P/E/G ratio of 2.13 and a beta of 0.34. General Dynamics Corporation has a 52 week low of $267.39 and a 52 week high of $369.70. The stock has a 50-day simple moving average of $345.17 and a 200 day simple moving average of $346.83. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24.

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

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 10th were issued a dividend of $1.59 per share. This is a boost from General Dynamics's previous quarterly dividend of $1.50. This represents a $6.36 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, April 10th. General Dynamics's dividend payout ratio is presently 40.03%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GD shares. JPMorgan Chase & Co. boosted their price target on General Dynamics from $385.00 to $400.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Citigroup cut their target price on General Dynamics from $389.00 to $380.00 and set a "neutral" rating for the company in a research note on Wednesday, April 1st. Susquehanna reiterated a "positive" rating and set a $420.00 price target on shares of General Dynamics in a report on Thursday, January 15th. Argus increased their price objective on General Dynamics from $380.00 to $395.00 and gave the company a "buy" rating in a report on Thursday, February 19th. Finally, Bank of America reissued a "buy" rating and set a $400.00 price objective on shares of General Dynamics in a research report on Friday, January 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, General Dynamics has a consensus rating of "Moderate Buy" and a consensus target price of $388.20.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of General Dynamics by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company's stock valued at $8,338,169,000 after acquiring an additional 528,769 shares during the last quarter. State Street Corp boosted its holdings in General Dynamics by 2.7% in the fourth quarter. State Street Corp now owns 11,323,170 shares of the aerospace company's stock worth $3,812,058,000 after purchasing an additional 294,456 shares during the last quarter. Geode Capital Management LLC raised its position in General Dynamics by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 6,065,462 shares of the aerospace company's stock worth $2,039,742,000 after acquiring an additional 195,604 shares during the period. JPMorgan Chase & Co. raised its position in shares of General Dynamics by 2.2% during the 4th quarter. JPMorgan Chase & Co. now owns 5,307,389 shares of the aerospace company's stock valued at $1,786,786,000 after purchasing an additional 114,647 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of General Dynamics by 5.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,627,155 shares of the aerospace company's stock valued at $1,236,900,000 after purchasing an additional 187,435 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.