Lester L. Lyles Sells 2,551 Shares of General Dynamics Co. (GD) Stock
General Dynamics Co. (NYSE:GD) Director Lester L. Lyles sold 2,551 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $196.01, for a total transaction of $500,021.51. Following the completion of the sale, the director now directly owns 7,336 shares of the company’s stock, valued at approximately $1,437,929.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of General Dynamics Co. (NYSE:GD) traded up 0.79% during midday trading on Tuesday, reaching $199.32. 1,077,540 shares of the company’s stock traded hands. General Dynamics Co. has a 52-week low of $132.68 and a 52-week high of $199.37. The stock’s 50 day moving average price is $191.81 and its 200 day moving average price is $182.68. The firm has a market capitalization of $60.15 billion, a P/E ratio of 19.99 and a beta of 0.75.
General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 26th. The aerospace company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.16. The business had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.70 billion. General Dynamics had a return on equity of 27.92% and a net margin of 9.42%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business earned $2.08 earnings per share. On average, equities research analysts anticipate that General Dynamics Co. will post $9.80 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 5th. Shareholders of record on Friday, April 7th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Wednesday, April 5th. This represents a $3.36 dividend on an annualized basis and a yield of 1.70%. This is a boost from General Dynamics’s previous quarterly dividend of $0.76. General Dynamics’s dividend payout ratio (DPR) is 31.90%.
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Institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC boosted its position in shares of General Dynamics by 0.7% in the first quarter. Quadrant Capital Group LLC now owns 608 shares of the aerospace company’s stock worth $108,000 after buying an additional 4 shares during the period. Ruggie Capital Group bought a new position in shares of General Dynamics during the first quarter worth about $119,000. Pinnacle Bank bought a new position in shares of General Dynamics during the first quarter worth about $126,000. First Command Bank bought a new position in shares of General Dynamics during the fourth quarter worth about $125,000. Finally, Zions Bancorporation boosted its position in shares of General Dynamics by 0.5% in the first quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock worth $137,000 after buying an additional 4 shares during the period. Hedge funds and other institutional investors own 87.35% of the company’s stock.
Several equities research analysts recently weighed in on GD shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $200.00 price objective on shares of General Dynamics in a report on Tuesday, April 18th. Vetr raised shares of General Dynamics from a “sell” rating to a “hold” rating and set a $183.78 price objective for the company in a report on Monday, March 27th. Zacks Investment Research raised shares of General Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, April 13th. Stifel Nicolaus upped their price objective on shares of General Dynamics from $166.00 to $173.00 and gave the stock a “hold” rating in a report on Monday, January 30th. Finally, Sanford C. Bernstein downgraded shares of General Dynamics from an “outperform” rating to a “market perform” rating and set a $212.00 price objective for the company. in a report on Tuesday, May 9th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $198.98.
General Dynamics Company Profile
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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