General Dynamics (NYSE:GD) Sees Unusually-High Trading Volume

General Dynamics Co. (NYSE:GD) shares saw unusually-strong trading volume on Wednesday . Approximately 644,526 shares were traded during mid-day 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 Ratings Changes

GD has been the subject of several recent research reports. Susquehanna increased their price objective on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research note on Friday, April 12th. Citigroup boosted their price target on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. increased their price target on General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a report on Thursday. Barclays upped their target price on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Alembic Global Advisors lowered shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price objective for the company. in a report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $285.63.

General Dynamics Stock Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.92. The company has a market cap of $78.19 billion, a PE ratio of 23.24, a PEG ratio of 1.79 and a beta of 0.68. The stock has a 50 day simple moving average of $280.56 and a two-hundred day simple moving average of $261.39.

General Dynamics (NYSE:GD) last announced its earnings results 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 last year, the company posted $2.64 EPS. General Dynamics’s quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts predict that General Dynamics Co. will post 14.56 EPS for the current year.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be given a $1.42 dividend. The ex-dividend date is Thursday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a dividend yield of 1.99%. General Dynamics’s payout ratio is currently 46.33%.

Insider Activity

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $264.31, for a total value of $8,551,750.05. Following the transaction, the chief executive officer now directly owns 773,977 shares in the company, valued at approximately $204,569,860.87. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On General Dynamics

Large investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in shares of General Dynamics by 99.3% in the 4th quarter. Pacer Advisors Inc. now owns 29,045 shares of the aerospace company’s stock worth $7,542,000 after purchasing an additional 14,468 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of General Dynamics during the third quarter worth $16,077,000. Moreno Evelyn V lifted its holdings in shares of General Dynamics by 17.1% during the third quarter. Moreno Evelyn V now owns 27,310 shares of the aerospace company’s stock valued at $6,035,000 after purchasing an additional 3,991 shares during the last quarter. Clough Capital Partners L P acquired a new position in shares of General Dynamics in the 3rd quarter valued at $26,868,000. Finally, Victory Capital Management Inc. raised its holdings in shares of General Dynamics by 57.7% during the third quarter. Victory Capital Management Inc. now owns 326,121 shares of the aerospace company’s stock valued at $72,063,000 after acquiring an additional 119,264 shares during the period. 86.14% of the stock is currently owned by institutional investors.

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.