Insider Selling: General Dynamics Co. (NYSE:GD) SVP Sells 27,562 Shares of Stock

General Dynamics Co. (NYSE:GD) SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the sale, the senior vice president now directly owns 45,192 shares of the company’s stock, valued at approximately $12,297,195.12. This represents a 37.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

General Dynamics Stock Performance

NYSE GD traded down $3.91 during mid-day trading on Wednesday, reaching $260.21. 1,107,998 shares of the stock were exchanged, compared to its average volume of 1,233,740. General Dynamics Co. has a 1 year low of $239.87 and a 1 year high of $316.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The business’s 50 day moving average is $257.99 and its 200-day moving average is $279.44. The company has a market capitalization of $70.35 billion, a P/E ratio of 19.08, a P/E/G ratio of 1.69 and a beta of 0.59.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. On average, equities research analysts forecast that General Dynamics Co. will post 14.83 EPS for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be given a $1.50 dividend. The ex-dividend date is Friday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.31%. General Dynamics’s payout ratio is 43.99%.

General Dynamics announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GD shares. Baird R W cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Jefferies Financial Group reiterated a “hold” rating and set a $300.00 price objective (down from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. Vertical Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $352.00 to $290.00 in a report on Monday, January 6th. Barclays reduced their target price on General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, TD Cowen dropped their price target on General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $297.71.

Hedge Funds Weigh In On General Dynamics

A number of large investors have recently added to or reduced their stakes in GD. Financial Life Planners purchased a new stake in shares of General Dynamics during the fourth quarter worth about $25,000. Whipplewood Advisors LLC acquired a new stake in General Dynamics in the 4th quarter worth about $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in General Dynamics during the 4th quarter worth approximately $26,000. Copia Wealth Management acquired a new position in shares of General Dynamics during the fourth quarter valued at approximately $27,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of General Dynamics during the fourth quarter valued at approximately $28,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

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.