General Dynamics (NYSE:GD) CEO Sells $16,391,481.26 in Stock

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 shares were sold at an average price of $361.42, for a total value of $16,391,481.26. Following the completion of the transaction, the chief executive officer directly owned 766,457 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink.

General Dynamics Stock Down 0.1%

Shares of General Dynamics stock opened at $367.06 on Thursday. General Dynamics Corporation has a one year low of $306.77 and a one year high of $400.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 0.94. The stock’s 50-day moving average is $349.28 and its 200 day moving average is $355.06. The firm has a market cap of $99.19 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 2.07 and a beta of 0.30.

General Dynamics (NYSE:GD) last issued its earnings results on Friday, October 30th. The aerospace company reported $4.49 earnings per share for the quarter, topping analysts’ consensus estimates of $4.12 by $0.37. The business had revenue of $14.57 billion during the quarter, compared to the consensus estimate of $13.72 billion. General Dynamics had a return on equity of 17.60% and a net margin of 8.24%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.88 earnings per share. Equities research analysts anticipate that General Dynamics Corporation will post 17.29 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on GD. Sanford C. Bernstein raised their price objective on shares of General Dynamics from $365.00 to $386.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 3rd. Susquehanna boosted their target price on shares of General Dynamics from $420.00 to $455.00 and gave the company a “positive” rating in a research report on Thursday, July 30th. Jefferies Financial Group reissued a “buy” rating and set a $455.00 target price on shares of General Dynamics in a research note on Monday, November 2nd. TD Cowen cut their target price on shares of General Dynamics from $420.00 to $380.00 and set a “buy” rating on the stock in a research note on Friday, October 9th. Finally, Wall Street Zen cut shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Eleven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, General Dynamics currently has a consensus rating of “Moderate Buy” and an average price target of $408.94.

Institutional Trading of General Dynamics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Patron Partners LLC lifted its stake in shares of General Dynamics by 7.9% in the third quarter. Patron Partners LLC now owns 652 shares of the aerospace company’s stock valued at $216,000 after buying an additional 48 shares in the last quarter. Mayflower Financial Advisors LLC increased its position in shares of General Dynamics by 5.3% during the third quarter. Mayflower Financial Advisors LLC now owns 661 shares of the aerospace company’s stock worth $219,000 after acquiring an additional 33 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of General Dynamics during the third quarter worth about $10,922,000. Edmond DE Rothschild Holding S.A. raised its holdings in shares of General Dynamics by 127.6% in the 3rd quarter. Edmond DE Rothschild Holding S.A. now owns 4,996 shares of the aerospace company’s stock worth $1,658,000 after acquiring an additional 2,801 shares during the last quarter. Finally, Private Wealth Asset Management LLC raised its holdings in shares of General Dynamics by 160.1% in the 3rd quarter. Private Wealth Asset Management LLC now owns 8,655 shares of the aerospace company’s stock worth $3,064,000 after acquiring an additional 5,327 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

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.