General Dynamics (NYSE:GD) Shares Break Above Two Hundred Day Moving Average – Time to Sell?

General Dynamics Corporation (NYSE:GD) crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $354.88 and traded as high as $357.13. General Dynamics shares last traded at $356.5930, with a volume of 1,174,860 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Jefferies Financial Group boosted their target price on General Dynamics from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Citigroup lowered their price target on General Dynamics from $404.00 to $374.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. Wells Fargo & Company lifted their price target on shares of General Dynamics from $400.00 to $440.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. TD Cowen reduced their price objective on shares of General Dynamics from $420.00 to $380.00 and set a “buy” rating for the company in a research note on Friday, October 9th. Finally, Susquehanna upped their price objective on shares of General Dynamics from $420.00 to $455.00 and gave the stock a “positive” rating in a report on Thursday, July 30th. Eleven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $402.44.

General Dynamics Stock Down 0.2%

The firm has a 50-day moving average price of $352.16 and a two-hundred day moving average price of $354.92. The company has a market capitalization of $95.85 billion, a P/E ratio of 21.61, a PEG ratio of 2.04 and a beta of 0.33. The company has a quick ratio of 0.96, a current ratio of 1.44 and a debt-to-equity ratio of 0.23.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 29th. The aerospace company reported $4.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.28. General Dynamics had a net margin of 8.18% and a return on equity of 17.43%. The business had revenue of $14.09 billion for the quarter, compared to analyst estimates of $13.52 billion. During the same quarter in the previous year, the firm posted $3.74 earnings per share. General Dynamics’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that General Dynamics Corporation will post 16.99 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 9th will be given a dividend of $1.59 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.8%. General Dynamics’s dividend payout ratio is currently 38.80%.

Insider Activity

In related news, Director Robert K. Steel sold 7,440 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $346.05, for a total value of $2,574,612.00. Following the completion of the sale, the director owned 3,096 shares in the company, valued at approximately $1,071,370.80. This trade represents a 70.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marguerite Gilliland sold 43,180 shares of General Dynamics stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $378.04, for a total value of $16,323,767.20. Following the sale, the executive vice president directly owned 44,767 shares in the company, valued at approximately $16,923,716.68. This trade represents a 49.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 102,188 shares of company stock valued at $38,627,265. Insiders own 1.40% of the company’s stock.

Institutional Trading of General Dynamics

Institutional investors have recently modified their holdings of the company. Whipplewood Advisors LLC lifted its position in General Dynamics by 1,725.0% in the first quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 69 shares during the period. Wellington Altus USA Inc. increased its holdings in General Dynamics by 77.8% in the 2nd quarter. Wellington Altus USA Inc. now owns 80 shares of the aerospace company’s stock valued at $27,000 after buying an additional 35 shares during the period. Downshift Financial LLC increased its holdings in General Dynamics by 134.3% in the 3rd quarter. Downshift Financial LLC now owns 82 shares of the aerospace company’s stock valued at $27,000 after buying an additional 47 shares during the period. Morton Brown Family Wealth LLC raised its stake in shares of General Dynamics by 182.8% in the 3rd quarter. Morton Brown Family Wealth LLC now owns 82 shares of the aerospace company’s stock valued at $27,000 after buying an additional 53 shares in the last quarter. Finally, Paladin Partners LLC acquired a new position in shares of General Dynamics in the 2nd quarter valued at $30,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

About General Dynamics

General Dynamics Corporation (NYSE: GD) is a global aerospace and defense company that develops, manufactures and supports products and services for government and commercial customers. Its operations serve the U.S. government, allied nations and other customers worldwide, with a significant focus on national security, military modernization and mission support.

The company operates through four primary business areas. Aerospace provides Gulfstream business jets and related aircraft services through Gulfstream Aerospace, as well as aircraft management, charter, maintenance and completions services through Jet Aviation.