General Dynamics (NYSE:GD) Stock: Insider Phebe Novakovic Sells 45,353 Shares

General Dynamics Corporation (NYSE:GD) CEO Phebe Novakovic sold 45,353 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer owned 766,457 shares in the company, valued at approximately $277,012,888.94. This trade represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

General Dynamics Trading Up 2.2%

Shares of General Dynamics stock traded up $7.88 on Monday, hitting $361.94. The stock had a trading volume of 922,621 shares, compared to its average volume of 1,303,250. The stock has a 50 day moving average of $349.76 and a 200 day moving average of $355.05. General Dynamics Corporation has a twelve month low of $306.77 and a twelve month high of $400.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 1.43. The firm has a market capitalization of $97.80 billion, a P/E ratio of 21.29, a PEG ratio of 1.99 and a beta of 0.30.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Friday, October 30th. The aerospace company reported $4.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.12 by $0.37. General Dynamics had a net margin of 8.24% and a return on equity of 17.60%. The business had revenue of $14.57 billion during the quarter, compared to analyst estimates of $13.72 billion. During the same quarter last year, the business earned $3.88 EPS. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. Sell-side analysts expect that General Dynamics Corporation will post 17.29 earnings per share for the current fiscal year.

Institutional Trading of General Dynamics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whipplewood Advisors LLC boosted its position in General Dynamics by 1,725.0% during the first quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 69 shares during the last quarter. 10Elms LLP raised its position in shares of General Dynamics by 85.4% in the 3rd quarter. 10Elms LLP now owns 76 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 35 shares in the last quarter. Wellington Altus USA Inc. raised its position in shares of General Dynamics by 77.8% in the 2nd quarter. Wellington Altus USA Inc. now owns 80 shares of the aerospace company’s stock worth $27,000 after acquiring an additional 35 shares in the last quarter. Downshift Financial LLC lifted its stake in shares of General Dynamics by 134.3% in the 3rd quarter. Downshift Financial LLC now owns 82 shares of the aerospace company’s stock valued at $27,000 after purchasing an additional 47 shares during the period. Finally, Morton Brown Family Wealth LLC lifted its stake in shares of General Dynamics by 182.8% in the 3rd quarter. Morton Brown Family Wealth LLC now owns 82 shares of the aerospace company’s stock valued at $27,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on GD. Morgan Stanley raised their price target on shares of General Dynamics from $465.00 to $480.00 and gave the company an “overweight” rating in a research note on Tuesday, November 3rd. Weiss Ratings restated a “buy (b)” rating on shares of General Dynamics in a report on Monday, September 28th. Sanford C. Bernstein increased their price objective on General Dynamics from $365.00 to $386.00 and gave the company a “market perform” rating in a report on Tuesday, November 3rd. Royal Bank Of Canada raised their target price on General Dynamics from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Monday, November 2nd. Finally, TD Cowen cut their target price on General Dynamics from $420.00 to $380.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Eleven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $408.94.

About General Dynamics

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.