General Dynamics Corporation (NYSE:GD) insider John Patrick Casey sold 34,945 shares of General Dynamics Corporation stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total value of $7,037,224.10. Following the completion of the sale, the insider now directly owns 144,378 shares of the company’s stock, valued at approximately $29,074,841.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of General Dynamics Corporation (NYSE GD) opened at $204.06 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.93. General Dynamics Corporation has a 12-month low of $149.66 and a 12-month high of $214.81. The firm has a market capitalization of $60,928.85, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 2.45 and a beta of 0.73.
General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.09. General Dynamics Corporation had a return on equity of 27.98% and a net margin of 9.94%. The firm had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $7.94 billion. During the same quarter in the previous year, the company posted $2.36 earnings per share. The business’s revenue was down 1.0% on a year-over-year basis. equities research analysts forecast that General Dynamics Corporation will post 9.81 EPS for the current fiscal year.
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A number of research analysts have weighed in on the company. Zacks Investment Research lowered General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Citigroup Inc. reaffirmed a “neutral” rating and set a $215.00 target price (up previously from $210.00) on shares of General Dynamics Corporation in a report on Monday, October 9th. ValuEngine lowered General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Cowen and Company reaffirmed a “buy” rating and set a $230.00 target price on shares of General Dynamics Corporation in a report on Thursday, October 19th. Finally, Stifel Nicolaus boosted their price objective on General Dynamics Corporation from $200.00 to $210.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $217.19.
Several institutional investors and hedge funds have recently bought and sold shares of the company. WFG Advisors LP increased its stake in shares of General Dynamics Corporation by 0.3% during the second quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock valued at $132,000 after buying an additional 2 shares during the period. Zions Bancorporation grew its stake in General Dynamics Corporation by 0.5% in the first quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock worth $137,000 after purchasing an additional 4 shares during the period. Norway Savings Bank grew its stake in General Dynamics Corporation by 0.5% in the second quarter. Norway Savings Bank now owns 1,015 shares of the aerospace company’s stock worth $201,000 after purchasing an additional 5 shares during the period. YorkBridge Wealth Partners LLC grew its stake in General Dynamics Corporation by 0.5% in the second quarter. YorkBridge Wealth Partners LLC now owns 992 shares of the aerospace company’s stock worth $198,000 after purchasing an additional 5 shares during the period. Finally, Guardian Life Insurance Co. of America grew its stake in General Dynamics Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,104 shares of the aerospace company’s stock worth $207,000 after purchasing an additional 8 shares during the period. 86.05% of the stock is currently owned by hedge funds and other institutional investors.
About General Dynamics Corporation
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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