General Dynamics Co. (NYSE:GD - Get Free Report) Director Leon Rudy F. De sold 2,570 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $288.00, for a total value of $740,160.00. Following the transaction, the director now owns 5,518 shares of the company's stock, valued at approximately $1,589,184. The transaction was disclosed in a filing with the SEC, which is available at this link.
General Dynamics Trading Up 0.7 %
General Dynamics stock opened at $293.37 on Wednesday. General Dynamics Co. has a 52 week low of $202.35 and a 52 week high of $296.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44. The stock has a market capitalization of $80.49 billion, a P/E ratio of 23.93, a PEG ratio of 1.80 and a beta of 0.67. The stock has a 50-day simple moving average of $283.23 and a 200 day simple moving average of $264.48.
General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing analysts' consensus estimates of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same quarter in the previous year, the business posted $2.64 EPS. The company's revenue for the quarter was up 8.6% on a year-over-year basis. Analysts expect that General Dynamics Co. will post 14.55 earnings per share for the current year.
General Dynamics Increases Dividend
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.94%. This is a positive change from General Dynamics's previous quarterly dividend of $1.32. The ex-dividend date is Thursday, April 11th. General Dynamics's dividend payout ratio is currently 46.33%.
Analysts Set New Price Targets
A number of research firms have issued reports on GD. JPMorgan Chase & Co. increased their target price on General Dynamics from $280.00 to $298.00 and gave the stock an "overweight" rating in a report on Thursday, April 25th. UBS Group raised their price objective on General Dynamics from $286.00 to $296.00 and gave the company a "neutral" rating in a report on Monday, January 29th. Susquehanna raised their price objective on General Dynamics from $301.00 to $333.00 and gave the company a "positive" rating in a report on Friday, April 12th. Barclays raised their price objective on General Dynamics from $285.00 to $310.00 and gave the company an "overweight" rating in a report on Monday, April 15th. Finally, Citigroup raised their price objective on General Dynamics from $300.00 to $320.00 and gave the company a "buy" rating in a report on Thursday, April 25th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, General Dynamics has a consensus rating of "Moderate Buy" and a consensus price target of $300.53.
Check Out Our Latest Research Report on General Dynamics
Institutional Investors Weigh In On General Dynamics
A number of institutional investors have recently modified their holdings of GD. Benjamin F. Edwards & Company Inc. grew its position in shares of General Dynamics by 188.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 40,830 shares of the aerospace company's stock worth $10,602,000 after purchasing an additional 26,668 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of General Dynamics by 99.3% during the 4th quarter. Pacer Advisors Inc. now owns 29,045 shares of the aerospace company's stock worth $7,542,000 after purchasing an additional 14,468 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of General Dynamics in the third quarter worth $16,077,000. Clough Capital Partners L P acquired a new position in General Dynamics in the third quarter valued at about $26,868,000. Finally, Victory Capital Management Inc. lifted its position in General Dynamics by 57.7% during the third quarter. Victory Capital Management Inc. now owns 326,121 shares of the aerospace company's stock worth $72,063,000 after purchasing an additional 119,264 shares during the period. Institutional investors own 86.14% of the company's stock.
About General Dynamics
(
Get Free Report)
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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