General Dynamics (NYSE:GD) Sees Strong Trading Volume

Shares of General Dynamics Co. (NYSE:GD) 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.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GD shares. Barclays upped their price objective on shares of General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Wells Fargo & Company upped their price objective on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. The Goldman Sachs Group upped their price target on shares of General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Susquehanna upped their price target on shares of General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a report on Friday, April 12th. Finally, StockNews.com cut shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 3rd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $283.80.

General Dynamics Trading Down 4.8 %

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’s 50 day moving average is $280.02 and its two-hundred day moving average is $261.08. The firm has a market cap of $76.50 billion, a P/E ratio of 22.95, a PEG ratio of 1.85 and a beta of 0.68.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, January 24th. The aerospace company reported $3.64 earnings per share for the quarter, missing the consensus estimate of $3.68 by ($0.04). General Dynamics had a net margin of 7.84% and a return on equity of 16.61%. The company had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.39 billion. During the same quarter in the previous year, the business posted $3.58 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts predict that General Dynamics Co. will post 14.56 earnings per share for the current year.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Thursday, April 11th. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio (DPR) is presently 47.25%.

Insider Buying and Selling

In related news, CEO Phebe N. Novakovic sold 32,355 shares of the 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 completion of the transaction, the chief executive officer now owns 773,977 shares of the company’s stock, valued at $204,569,860.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Phebe N. Novakovic sold 32,355 shares of the 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 completion of the transaction, the chief executive officer now owns 773,977 shares of the company’s stock, valued at $204,569,860.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark C. Roualet sold 73,330 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the completion of the transaction, the executive vice president now directly owns 149,205 shares of the company’s stock, valued at approximately $39,502,023.75. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Impact Partnership Wealth LLC increased its holdings in shares of General Dynamics by 411.5% during the third quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock worth $29,000 after buying an additional 107 shares in the last quarter. GHP Investment Advisors Inc. increased its holdings in shares of General Dynamics by 6.0% during the third quarter. GHP Investment Advisors Inc. now owns 19,668 shares of the aerospace company’s stock worth $4,780,000 after buying an additional 1,112 shares in the last quarter. Royal Fund Management LLC increased its holdings in shares of General Dynamics by 3.7% during the third quarter. Royal Fund Management LLC now owns 5,960 shares of the aerospace company’s stock worth $1,317,000 after buying an additional 210 shares in the last quarter. Meridian Wealth Management LLC grew its stake in shares of General Dynamics by 84.6% during the third quarter. Meridian Wealth Management LLC now owns 8,854 shares of the aerospace company’s stock valued at $1,956,000 after purchasing an additional 4,058 shares during the last quarter. Finally, Riverview Trust Co bought a new stake in shares of General Dynamics during the third quarter valued at approximately $48,000. Institutional investors and hedge funds 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.