General Dynamics EVP David K. Heebner Sells 47,500 Shares (GD)
General Dynamics (NYSE:GD) EVP David K. Heebner sold 47,500 shares of the stock on the open market in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $123.26, for a total transaction of $5,854,850.00. Following the completion of the transaction, the executive vice president now directly owns 155,776 shares of the company’s stock, valued at approximately $19,200,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
General Dynamics (NYSE:GD) traded down 0.15% during mid-day trading on Friday, hitting $123.50. The stock had a trading volume of 280,383 shares. General Dynamics has a one year low of $82.23 and a one year high of $124.25. The stock’s 50-day moving average is $118.1 and its 200-day moving average is $112.9. The company has a market cap of $41.581 billion and a P/E ratio of 18.95.
General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.88 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.77 by $0.11. The company had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.53 billion. During the same quarter in the prior year, the company posted $1.81 earnings per share. The company’s quarterly revenue was down 4.6% on a year-over-year basis. Analysts expect that General Dynamics will post $7.55 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 14th. Stockholders of record on Friday, October 10th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, October 8th.
Several analysts have recently commented on the stock. Analysts at Barclays raised their price target on shares of General Dynamics from $119.00 to $122.00 in a research note on Monday, August 11th. They now have an “equal weight” rating on the stock. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of General Dynamics in a research note on Thursday, July 24th. They now have a $136.00 price target on the stock, up previously from $121.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of General Dynamics in a research note on Thursday, July 24th. They now have a $130.00 price target on the stock, up previously from $126.00. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $124.87.
General Dynamics Corporation is an aerospace and defense company that offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; military and commercial shipbuilding, and communications and information technology.
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