General Dynamics Co. (NYSE:GD) CFO Sells $3,978,647.04 in Stock

General Dynamics Co. (NYSE:GD) CFO Kimberly A. Kuryea sold 13,344 shares of General Dynamics stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the sale, the chief financial officer now directly owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

General Dynamics Stock Up 1.0 %

Shares of NYSE GD opened at $299.62 on Friday. The firm has a market cap of $82.20 billion, a PE ratio of 24.44, a P/E/G ratio of 1.70 and a beta of 0.67. General Dynamics Co. has a 12-month low of $202.35 and a 12-month high of $301.48. The company’s fifty day simple moving average is $289.09 and its 200 day simple moving average is $269.22. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. During the same quarter in the previous year, the company posted $2.64 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts forecast that General Dynamics Co. will post 14.55 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 12th were issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Thursday, April 11th. This is an increase from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Hedge Funds Weigh In On General Dynamics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of General Dynamics by 0.6% during the third quarter. Vanguard Group Inc. now owns 22,423,961 shares of the aerospace company’s stock worth $4,955,023,000 after acquiring an additional 133,061 shares in the last quarter. Wellington Management Group LLP raised its position in General Dynamics by 12.0% in the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after buying an additional 1,755,276 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of General Dynamics by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after purchasing an additional 115,063 shares during the last quarter. Sanders Capital LLC grew its stake in shares of General Dynamics by 3.7% during the 4th quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock valued at $1,081,488,000 after acquiring an additional 147,800 shares during the period. Finally, Norges Bank bought a new position in shares of General Dynamics during the 4th quarter valued at approximately $728,284,000. Institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Sanford C. Bernstein upped their price target on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a report on Thursday. Wells Fargo & Company raised their price objective on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Argus increased their price target on shares of General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, April 29th. UBS Group raised their price objective on shares of General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a research note on Monday, January 29th. Finally, StockNews.com lowered shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $300.63.

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.