Phebe Novakovic Sells 129,090 Shares of General Dynamics (NYSE:GD) Stock

Key Points

• General Dynamics CEO Phebe Novakovic sold 129,090 shares of the company's stock at an average price of $313.57, totaling $40.48 million, resulting in a 14.36% decrease in her ownership stake.
• General Dynamics reported a quarterly EPS of $3.74, surpassing analyst estimates, and announced a quarterly dividend of $1.50 to be paid on November 14th, representing a 1.9% yield.
• Analysts have mixed ratings on General Dynamics, with a consensus target price of $315.78 and most firms maintaining a "Hold" or "Buy" stance on the stock.

General Dynamics Corporation (NYSE:GD - Get Free Report) CEO Phebe Novakovic sold 129,090 shares of General Dynamics stock in a transaction on Monday, August 18th. The stock was sold at an average price of $313.57, for a total value of $40,478,751.30. Following the sale, the chief executive officer directly owned 769,607 shares of the company's stock, valued at $241,325,666.99. This represents a 14.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

General Dynamics Price Performance

GD stock traded up $0.8450 during midday trading on Wednesday, reaching $317.2450. The company had a trading volume of 144,652 shares, compared to its average volume of 1,438,283. The company has a market capitalization of $85.34 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 1.92 and a beta of 0.48. The stock has a 50 day moving average price of $300.26 and a 200-day moving average price of $278.10. General Dynamics Corporation has a 1-year low of $239.20 and a 1-year high of $322.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.36 and a quick ratio of 0.83.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 EPS for the quarter, beating analysts' consensus estimates of $3.47 by $0.27. The business had revenue of $13.04 billion during the quarter, compared to the consensus estimate of $12.13 billion. General Dynamics had a return on equity of 17.99% and a net margin of 8.13%.General Dynamics's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.26 earnings per share. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. Equities research analysts expect that General Dynamics Corporation will post 14.83 earnings per share for the current year.

General Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 10th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, October 10th. General Dynamics's payout ratio is 40.27%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GD. Morgan Stanley reduced their target price on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. TD Securities upped their target price on General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Jefferies Financial Group set a $325.00 target price on General Dynamics and gave the company a "hold" rating in a report on Wednesday, July 9th. Barclays upped their target price on General Dynamics from $285.00 to $350.00 and gave the company an "overweight" rating in a report on Tuesday, July 29th. Finally, Susquehanna upped their target price on General Dynamics from $315.00 to $365.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Nine equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $315.78.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. 1858 Wealth Management LLC grew its stake in General Dynamics by 1.0% in the 2nd quarter. 1858 Wealth Management LLC now owns 3,256 shares of the aerospace company's stock valued at $950,000 after purchasing an additional 32 shares during the period. Nicholson Wealth Management Group LLC grew its stake in General Dynamics by 0.5% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 6,582 shares of the aerospace company's stock valued at $1,920,000 after purchasing an additional 33 shares during the period. Gilbert & Cook Inc. grew its stake in shares of General Dynamics by 1.4% during the 2nd quarter. Gilbert & Cook Inc. now owns 2,389 shares of the aerospace company's stock worth $697,000 after acquiring an additional 33 shares during the period. Crewe Advisors LLC grew its stake in shares of General Dynamics by 10.9% during the 2nd quarter. Crewe Advisors LLC now owns 347 shares of the aerospace company's stock worth $101,000 after acquiring an additional 34 shares during the period. Finally, CVA Family Office LLC grew its stake in shares of General Dynamics by 1.5% during the 2nd quarter. CVA Family Office LLC now owns 2,256 shares of the aerospace company's stock worth $658,000 after acquiring an additional 34 shares during the period. Institutional investors own 86.14% of the company's stock.

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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