Key Points
- General Dynamics director Mark Malcolm sold 5,480 shares on June 17 at an average price of $365.00, for total proceeds of about $2.0 million. After the sale, he still held 10,643 shares, reducing his stake by 33.99%.
- The stock was trading lower, opening at $343.54 and down 1.8% on the day. General Dynamics remains near its 52-week high of $369.70, with a market cap of $92.9 billion.
- The company recently beat earnings expectations, reporting $4.10 EPS on revenue of $13.48 billion, both above estimates. It also announced a quarterly dividend of $1.59 per share, or $6.36 annually, for a 1.9% yield.
General Dynamics Corporation (NYSE:GD - Get Free Report) Director Mark Malcolm sold 5,480 shares of the firm's stock in a transaction dated 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 sale, the director owned 10,643 shares of the company's stock, valued at $3,884,695. This represents a 33.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
General Dynamics Trading Down 1.8%
Shares of GD opened at $343.54 on Tuesday. General Dynamics Corporation has a one year low of $278.23 and a one year high of $369.70. The stock has a 50-day moving average price of $341.10 and a 200 day moving average price of $347.35. 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 company has a market capitalization of $92.90 billion, a P/E ratio of 21.62, a P/E/G ratio of 2.17 and a beta of 0.34.
General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.43. The company had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.General Dynamics's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.66 EPS. Sell-side analysts forecast that General Dynamics Corporation will post 16.62 EPS for the current fiscal year.
General Dynamics Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be paid a dividend of $1.59 per share. This represents a $6.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Thursday, July 2nd. General Dynamics's dividend payout ratio is 40.03%.
Institutional Trading of General Dynamics
Large investors have recently added to or reduced their stakes in the business. Dunhill Financial LLC increased its holdings in shares of General Dynamics by 620.0% during the third quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company's stock valued at $25,000 after purchasing an additional 62 shares during the period. KERR FINANCIAL PLANNING Corp acquired a new position in shares of General Dynamics in the 3rd quarter worth approximately $25,000. Whipplewood Advisors LLC increased its holdings in shares of General Dynamics by 1,725.0% in the first quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company's stock valued at $25,000 after buying an additional 69 shares in the last quarter. Dagco Inc. acquired a new stake in shares of General Dynamics during the fourth quarter worth $25,000. Finally, Burkett Financial Services LLC raised its holdings in 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 buying an additional 65 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. Citigroup cut their target price on shares of General Dynamics from $380.00 to $364.00 and set a "neutral" rating on the stock in a research note on Monday, May 18th. The Goldman Sachs Group reduced their target price on General Dynamics from $327.00 to $313.00 and set a "sell" rating on the stock in a report on Monday, May 4th. UBS Group upgraded General Dynamics from a "neutral" rating to a "buy" rating in a report on Thursday, June 11th. DA Davidson reduced their price objective on General Dynamics from $384.00 to $375.00 in a research note on Thursday, April 30th. Finally, Weiss Ratings lowered shares of General Dynamics from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $388.40.
Get Our Latest Report on General Dynamics
General Dynamics Company Profile
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
