Insider Selling: General Dynamics (NYSE:GD) CEO Sells $40,478,751.30 in Stock

General Dynamics Corporation (NYSE:GD) CEO Phebe Novakovic sold 129,090 shares of General Dynamics stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $313.57, for a total transaction of $40,478,751.30. Following the transaction, the chief executive officer directly owned 769,607 shares in the company, valued at $241,325,666.99. This trade represents a 14.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

General Dynamics Trading Up 0.9%

GD stock opened at $319.3560 on Friday. The company has a market capitalization of $85.90 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 1.94 and a beta of 0.48. General Dynamics Corporation has a one year low of $239.20 and a one year high of $322.50. The company’s 50 day moving average price is $302.55 and its two-hundred day moving average price is $279.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.83 and a current ratio of 1.36.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.27. General Dynamics had a net margin of 8.13% and a return on equity of 17.99%. The firm had revenue of $13.04 billion for the quarter, compared to analysts’ expectations of $12.13 billion. During the same quarter last year, the business earned $3.26 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. General Dynamics has set its FY 2025 guidance at 15.050-15.150 EPS. As a group, analysts predict that General Dynamics Corporation will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Friday, October 10th will be issued a $1.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. General Dynamics’s dividend payout ratio (DPR) is currently 40.27%.

Wall Street Analysts Forecast Growth

GD has been the topic of several recent analyst reports. Barclays raised their target price on shares of General Dynamics from $285.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, July 29th. Citigroup raised their target price on shares of General Dynamics from $348.00 to $368.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Argus set a $295.00 target price on shares of General Dynamics in a report on Tuesday, May 6th. TD Cowen raised their target price on shares of General Dynamics from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, June 25th. Finally, Sanford C. Bernstein set a $314.00 price target on shares of General Dynamics and gave the company a “market perform” rating in a report on Monday, July 14th. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $315.78.

Institutional Trading of General Dynamics

Hedge funds have recently modified their holdings of the business. Retirement Guys Formula LLC bought a new stake in shares of General Dynamics during the 1st quarter valued at $1,692,000. Advisory Resource Group boosted its holdings in shares of General Dynamics by 7.1% during the 1st quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company’s stock valued at $5,234,000 after buying an additional 1,276 shares in the last quarter. Mission Wealth Management LP boosted its holdings in shares of General Dynamics by 18.9% during the 1st quarter. Mission Wealth Management LP now owns 16,144 shares of the aerospace company’s stock valued at $4,401,000 after buying an additional 2,568 shares in the last quarter. Matrix Asset Advisors Inc. NY boosted its holdings in shares of General Dynamics by 31.6% during the 1st quarter. Matrix Asset Advisors Inc. NY now owns 33,644 shares of the aerospace company’s stock valued at $9,171,000 after buying an additional 8,073 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. boosted its holdings in shares of General Dynamics by 11.5% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 16,522 shares of the aerospace company’s stock valued at $4,504,000 after buying an additional 1,704 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

About General Dynamics

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.