General Dynamics (NYSE:GD) Sees Strong Trading Volume

Shares of General Dynamics Co. (NYSE:GD) saw unusually-high trading volume on Wednesday . Approximately 644,526 shares were traded during trading, a decline of 39% from the previous session’s volume of 1,060,100 shares.The stock last traded at $278.38 and had previously closed at $292.72.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GD. StockNews.com downgraded General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 3rd. Susquehanna raised their target price on General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research report on Friday, April 12th. Citigroup raised their price objective on General Dynamics from $283.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Wells Fargo & Company raised their price objective on General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada lifted their target price on General Dynamics from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $283.80.

General Dynamics Stock Down 4.8 %

The firm has a market capitalization of $76.50 billion, a PE ratio of 22.95, a PEG ratio of 1.85 and a beta of 0.68. The company has a fifty day simple moving average of $280.02 and a two-hundred day simple moving average of $261.08. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.44.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, January 24th. The aerospace company reported $3.64 earnings per share for the quarter, missing the consensus estimate of $3.68 by ($0.04). The firm had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.39 billion. General Dynamics had a return on equity of 16.61% and a net margin of 7.84%. General Dynamics’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.58 earnings per share. Analysts forecast that General Dynamics Co. will post 14.56 EPS for the current fiscal year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.04%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date is Thursday, April 11th. General Dynamics’s payout ratio is presently 47.25%.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the transaction, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at approximately $204,569,860.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the sale, the chief executive officer now owns 773,977 shares in the company, valued at approximately $204,569,860.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark C. Roualet sold 73,330 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $264.75, for a total value of $19,414,117.50. Following the sale, the executive vice president now owns 149,205 shares in the company, valued at approximately $39,502,023.75. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On General Dynamics

A number of hedge funds have recently bought and sold shares of the business. MeadowBrook Investment Advisors LLC purchased a new position in shares of General Dynamics in the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. purchased a new position in General Dynamics during the fourth quarter worth approximately $25,000. Redmont Wealth Advisors LLC purchased a new position in General Dynamics during the first quarter worth approximately $25,000. Briaud Financial Planning Inc purchased a new stake in General Dynamics in the third quarter valued at $27,000. Finally, Impact Partnership Wealth LLC raised its position in General Dynamics by 411.5% in the third quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 107 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.