Mark Malcolm Sells 5,480 Shares of General Dynamics (NYSE:GD) Stock

General Dynamics Corporation (NYSE:GD) Director Mark Malcolm sold 5,480 shares of the stock in a transaction on 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 completion of the sale, the director owned 10,643 shares of the company’s stock, valued at approximately $3,884,695. This represents a 33.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

General Dynamics Trading Up 2.1%

Shares of NYSE:GD opened at $350.59 on Wednesday. General Dynamics Corporation has a 52-week low of $278.23 and a 52-week high of $369.70. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. The company has a market capitalization of $94.81 billion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 2.13 and a beta of 0.34. The company has a 50-day simple moving average of $341.41 and a 200 day simple moving average of $347.44.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.67 by $0.43. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The firm had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. During the same quarter in the prior year, the company earned $3.66 earnings per share. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. Sell-side analysts forecast that General Dynamics Corporation will post 16.63 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be issued 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 yield of 1.8%. General Dynamics’s dividend payout ratio (DPR) is currently 40.03%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and increased their price objective for the company from $380.00 to $400.00 in a research report on Thursday, June 11th. BNP Paribas Exane reduced 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. Citigroup lowered their price target on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating on the stock in a report on Monday, May 18th. Wells Fargo & Company started coverage on shares of General Dynamics in a research report on Wednesday, April 1st. They set an “overweight” rating and a $400.00 price objective for the company. Finally, Weiss Ratings downgraded General Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $388.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dunhill Financial LLC increased its stake in General Dynamics by 620.0% during the 3rd quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 62 shares during the period. KERR FINANCIAL PLANNING Corp bought a new stake in shares of General Dynamics during the 3rd quarter valued at $25,000. Whipplewood Advisors LLC grew its holdings in shares of General Dynamics by 1,725.0% during the 1st quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 69 shares in the last quarter. Dagco Inc. acquired a new stake in shares of General Dynamics during the 4th quarter worth $25,000. Finally, Burkett Financial Services LLC increased its position in shares of General Dynamics by 650.0% in the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

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.