General Dynamics (NYSE:GD) Director Sells $2,000,200.00 in Stock

General Dynamics Corporation (NYSE:GD) 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 transaction of $2,000,200.00. Following the transaction, the director owned 10,643 shares of the company’s stock, valued at approximately $3,884,695. This trade represents a 33.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

General Dynamics Stock Down 1.7%

GD stock opened at $344.31 on Thursday. General Dynamics Corporation has a 12 month low of $281.13 and a 12 month high of $369.70. The firm has a market cap of $93.11 billion, a PE ratio of 21.67, a P/E/G ratio of 2.17 and a beta of 0.34. The firm has a 50 day simple moving average of $341.49 and a 200 day simple moving average of $347.46. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90.

General Dynamics (NYSE:GD) last posted its quarterly earnings results 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 firm had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.66 earnings per share. Equities research analysts forecast that General Dynamics Corporation will post 16.63 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be paid a dividend of $1.59 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $6.36 annualized dividend and a dividend yield of 1.8%. General Dynamics’s dividend payout ratio (DPR) is currently 40.03%.

Institutional Investors Weigh In On General Dynamics

A number of institutional investors have recently modified their holdings of GD. Ballast Advisors LLC acquired a new position in shares of General Dynamics in the first quarter worth $34,000. Sapient Capital LLC raised its holdings in shares of General Dynamics by 10.4% during the first quarter. Sapient Capital LLC now owns 970 shares of the aerospace company’s stock worth $333,000 after acquiring an additional 91 shares in the last quarter. Western Wealth Management LLC boosted its position in General Dynamics by 15.2% during the first quarter. Western Wealth Management LLC now owns 3,434 shares of the aerospace company’s stock valued at $1,179,000 after purchasing an additional 453 shares during the last quarter. Rathbones Group PLC grew its stake in General Dynamics by 10.5% in the first quarter. Rathbones Group PLC now owns 2,267 shares of the aerospace company’s stock valued at $778,000 after purchasing an additional 215 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its stake in General Dynamics by 4.4% in the first quarter. Pine Valley Investments Ltd Liability Co now owns 785 shares of the aerospace company’s stock valued at $270,000 after purchasing an additional 33 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

GD has been the topic of a number of recent analyst reports. Wells Fargo & Company started coverage on General Dynamics in a research report on Wednesday, April 1st. They set an “overweight” rating and a $400.00 target price on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price objective on General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. BNP Paribas Exane decreased their target price on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a report on Thursday, April 30th. Finally, DA Davidson dropped their target price on shares of General Dynamics from $384.00 to $375.00 in a research report on Thursday, April 30th. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $388.40.

About General Dynamics

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.