Key Points
- General Dynamics CEO Phebe Novakovic sold 45,353 shares for about $16.4 million, reducing her stake by 5.59%; she still owns 766,457 shares.
- The company reported quarterly EPS of $4.49, beating the $4.12 consensus, while revenue of $14.57 billion topped estimates and rose 12.9% year over year.
- Analysts give General Dynamics a “Moderate Buy” consensus rating, with an average price target of $408.94; shares opened at $361.94.
General Dynamics Corporation (NYSE:GD - Get Free Report) CEO Phebe Novakovic sold 45,353 shares of General Dynamics stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $361.42, for a total value of $16,391,481.26. Following the transaction, the chief executive officer owned 766,457 shares of the company's stock, valued at $277,012,888.94. This represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
General Dynamics Stock Up 2.2%
GD stock opened at $361.94 on Tuesday. General Dynamics Corporation has a 1-year low of $306.77 and a 1-year high of $400.00. The business's 50 day simple moving average is $349.41 and its 200 day simple moving average is $355.04. The company has a current ratio of 1.43, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $97.80 billion, a PE ratio of 21.29, a PEG ratio of 2.06 and a beta of 0.30.
General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Friday, October 30th. The aerospace company reported $4.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $0.37. General Dynamics had a return on equity of 17.60% and a net margin of 8.24%. The business had revenue of $14.57 billion during the quarter, compared to the consensus estimate of $13.72 billion. During the same quarter last year, the firm posted $3.88 EPS. The company's quarterly revenue was up 12.9% on a year-over-year basis. As a group, research analysts anticipate that General Dynamics Corporation will post 17.29 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brendel Financial Advisors LLC boosted its position in shares of General Dynamics by 1.5% in the third quarter. Brendel Financial Advisors LLC now owns 12,588 shares of the aerospace company's stock valued at $4,177,000 after acquiring an additional 187 shares during the period. Intech Investment Management LLC grew its stake in shares of General Dynamics by 22.4% in the third quarter. Intech Investment Management LLC now owns 23,714 shares of the aerospace company's stock valued at $7,869,000 after acquiring an additional 4,344 shares in the last quarter. Silver Oak Securities Incorporated grew its stake in shares of General Dynamics by 10.8% in the third quarter. Silver Oak Securities Incorporated now owns 1,549 shares of the aerospace company's stock valued at $548,000 after acquiring an additional 151 shares in the last quarter. White Pine Capital LLC bought a new position in General Dynamics during the third quarter worth about $294,000. Finally, West Family Investments Inc. increased its position in General Dynamics by 47.0% during the third quarter. West Family Investments Inc. now owns 2,276 shares of the aerospace company's stock worth $755,000 after acquiring an additional 728 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on GD. BNP Paribas Exane increased their price objective on shares of General Dynamics from $390.00 to $430.00 and gave the company an "outperform" rating in a research report on Thursday, July 30th. Morgan Stanley lifted their target price on shares of General Dynamics from $465.00 to $480.00 and gave the stock an "overweight" rating in a report on Tuesday, November 3rd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $384.00 price target on shares of General Dynamics in a research note on Thursday, July 30th. Wells Fargo & Company raised their price objective on shares of General Dynamics from $400.00 to $440.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen downgraded shares of General Dynamics from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. Eleven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, General Dynamics currently has an average rating of "Moderate Buy" and an average target price of $408.94.
Read Our Latest Stock Report on General Dynamics
General Dynamics Company Profile
(
Get Free Report)
General Dynamics Corporation is an aerospace and defense company that develops and manufactures products and provides services for commercial, government and military customers. Its businesses span aerospace, marine systems, combat systems and defense technologies.
The company makes Gulfstream business jets and provides aircraft services. Its marine systems operations design and build submarines and surface ships, while its combat systems business produces military vehicles, weapons systems and munitions.
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