Rep. Jonathan L. Jackson Sells General Dynamics Co. (NYSE:GD) Stock

Representative Jonathan L. Jackson (D-Illinois) recently sold shares of General Dynamics Co. (NYSE:GD). In a filing disclosed on January 16th, the Representative disclosed that they had sold between $15,001 and $50,000 in General Dynamics stock on December 16th. The trade occurred in the Representative’s “MORGAN STANLEY TRUST ACCOUNT” account.

Representative Jonathan L. Jackson also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of O’Reilly Automotive (NASDAQ:ORLY) on 12/16/2024.
• Purchased $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 12/9/2024.
• Sold $15,001 – $50,000 in shares of TIM (NYSE:TIMB) on 12/9/2024.
• Purchased $15,001 – $50,000 in shares of Amazon.com (NASDAQ:AMZN) on 11/27/2024.
• Sold $15,001 – $50,000 in shares of Applied Materials (NASDAQ:AMAT) on 11/27/2024.
• Sold $15,001 – $50,000 in shares of Regeneron Pharmaceuticals (NASDAQ:REGN) on 11/13/2024.
• Purchased $15,001 – $50,000 in shares of Church & Dwight (NYSE:CHD) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Regeneron Pharmaceuticals (NASDAQ:REGN) on 11/1/2024.
• Purchased $15,001 – $50,000 in shares of Salesforce (NYSE:CRM) on 10/28/2024.
• Sold $15,001 – $50,000 in shares of ASML (NASDAQ:ASML) on 10/28/2024.

General Dynamics Stock Down 0.7 %

Shares of GD stock traded down $1.97 on Friday, hitting $266.86. The stock had a trading volume of 1,543,957 shares, compared to its average volume of 1,419,689. General Dynamics Co. has a one year low of $247.36 and a one year high of $316.90. The business has a 50 day moving average price of $273.71 and a 200 day moving average price of $288.32. The company has a market cap of $73.38 billion, a PE ratio of 20.32, a P/E/G ratio of 1.38 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The business had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. General Dynamics’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.04 earnings per share. Research analysts anticipate that General Dynamics Co. will post 13.81 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.

General Dynamics declared that its Board of Directors has approved a stock repurchase plan on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. Wolfe Research cut General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. Royal Bank of Canada downgraded shares of General Dynamics from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $330.00 to $290.00 in a research report on Thursday, December 19th. Citigroup boosted their price target on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $304.53.

Institutional Trading of General Dynamics

Large investors have recently modified their holdings of the stock. Secure Asset Management LLC lifted its position in shares of General Dynamics by 13.1% during the 4th quarter. Secure Asset Management LLC now owns 6,116 shares of the aerospace company’s stock worth $1,612,000 after purchasing an additional 710 shares during the last quarter. Baron Silver Stevens Financial Advisors LLC acquired a new position in General Dynamics in the fourth quarter valued at $217,000. Mutual Advisors LLC boosted its stake in shares of General Dynamics by 6.3% during the fourth quarter. Mutual Advisors LLC now owns 9,638 shares of the aerospace company’s stock worth $2,591,000 after buying an additional 574 shares during the period. Janney Montgomery Scott LLC raised its stake in General Dynamics by 0.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 220,412 shares of the aerospace company’s stock valued at $58,076,000 after acquiring an additional 1,310 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC lifted its position in General Dynamics by 2.5% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 144,664 shares of the aerospace company’s stock worth $38,117,000 after acquiring an additional 3,560 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the transaction, the vice president now directly owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This represents a 21.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.

About Representative Jackson

Jonathan Jackson (Democratic Party) is a member of the U.S. House, representing Illinois’ 1st Congressional District. Jackson assumed office on January 3, 2023. Jackson’s current term ends on January 3, 2025. Jackson (Democratic Party) is running for re-election to the U.S. House to represent Illinois’ 1st Congressional District. Jackson declared candidacy for the 2024 election. Jonathan Jackson was born in Chicago, Illinois. Jackson graduated from Whitney Young High School. He earned an M.B.A. from Northwestern University. Jackson’s career experience includes working as an investment analyst and an entrepreneur.

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.