General Dynamics (NYSE:GD) Stock: Insider Phebe Novakovic Sells 45,353 Shares

General Dynamics Corporation (NYSE:GD) CEO Phebe Novakovic sold 45,353 shares of General Dynamics stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $361.42, for a total value of $16,391,481.26. Following the completion of the transaction, the chief executive officer directly owned 766,457 shares in the company, valued at approximately $277,012,888.94. This represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

General Dynamics Stock Performance

NYSE:GD opened at $367.50 on Wednesday. The company has a market capitalization of $99.31 billion, a PE ratio of 21.62, a P/E/G ratio of 2.04 and a beta of 0.30. The company has a 50 day simple moving average of $349.32 and a two-hundred day simple moving average of $355.05. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 1.43. General Dynamics Corporation has a fifty-two week low of $306.77 and a fifty-two week high of $400.00.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Friday, October 30th. The aerospace company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.12 by $0.37. The firm had revenue of $14.57 billion during the quarter, compared to analyst estimates of $13.72 billion. General Dynamics had a net margin of 8.24% and a return on equity of 17.60%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.88 EPS. Research analysts anticipate that General Dynamics Corporation will post 17.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GD shares. Morgan Stanley boosted their target price on shares of General Dynamics from $465.00 to $480.00 and gave the company an “overweight” rating in a report on Tuesday, November 3rd. Robert W. Baird set a $430.00 price target on General Dynamics in a report on Thursday, July 30th. Sanford C. Bernstein boosted their price objective on General Dynamics from $365.00 to $386.00 and gave the company a “market perform” rating in a research note on Tuesday, November 3rd. UBS Group upped their target price on General Dynamics from $395.00 to $408.00 and gave the company a “neutral” rating in a research report on Tuesday, September 8th. Finally, Wells Fargo & Company raised their target price on General Dynamics from $400.00 to $440.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Eleven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $408.94.

General Dynamics News Roundup

Here are the key news stories impacting General Dynamics this week:

• Positive Sentiment: Technical momentum: GD crossed above its 200-day moving average, a level the report describes as resistance; the move may signal a more bullish longer-term trend. Article: General Dynamics crossed above the 200-day moving average
• Positive Sentiment: Growth outlook: A recap of GD’s Q3 earnings call characterized its signals as pointing to stronger growth ahead. The company’s latest reported quarter also beat earnings and revenue estimates, with revenue up 12.9% year over year. Article: General Dynamics earnings call signals stronger growth ahead
• Positive Sentiment: Growth-stock screening: Zacks highlighted GD as a strong growth stock using its Style Scores, adding to the positive growth narrative. Article: Why General Dynamics is a strong growth stock
• Negative Sentiment: Insider selling: CEO Phebe Novakovic sold 45,353 shares for about $16.4 million, reducing her direct stake by 5.59%. She still held 766,457 shares after the transaction; the sale may nevertheless raise investor caution. Article: General Dynamics CEO sells 45,353 shares

Hedge Funds Weigh In On General Dynamics

Several institutional investors have recently made changes to their positions in the stock. Oxford Financial Group LTD. LLC boosted its position in shares of General Dynamics by 1.9% during the 2nd quarter. Oxford Financial Group LTD. LLC now owns 1,426 shares of the aerospace company’s stock worth $505,000 after purchasing an additional 26 shares in the last quarter. Willner & Heller LLC increased its position in General Dynamics by 1.4% in the 2nd quarter. Willner & Heller LLC now owns 2,050 shares of the aerospace company’s stock valued at $726,000 after buying an additional 28 shares in the last quarter. Meriwether Wealth & Planning LLC increased its position in General Dynamics by 0.8% in the 2nd quarter. Meriwether Wealth & Planning LLC now owns 3,443 shares of the aerospace company’s stock valued at $1,220,000 after buying an additional 28 shares in the last quarter. Gryphon Financial Partners LLC raised its stake in General Dynamics by 0.9% during the 3rd quarter. Gryphon Financial Partners LLC now owns 3,083 shares of the aerospace company’s stock worth $1,023,000 after buying an additional 28 shares during the period. Finally, Capital Advisors Inc. OK raised its stake in General Dynamics by 0.6% during the 2nd quarter. Capital Advisors Inc. OK now owns 4,551 shares of the aerospace company’s stock worth $1,612,000 after buying an additional 29 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

About General Dynamics

General Dynamics Corporation is an aerospace and defense company that develops and manufactures products and provides services for commercial, government and military customers. Its businesses span aerospace, marine systems, combat systems and defense technologies. The company makes Gulfstream business jets and provides aircraft services. Its marine systems operations design and build submarines and surface ships, while its combat systems business produces military vehicles, weapons systems and munitions.