General Dynamics Corporation’s filing revealed that its Chairman and CEO NOVAKOVIC PHEBE N unloaded Company’s shares for reported $7.58 million on Aug 11. In the deal valued at $227.96 per share,33,230 shares were sold. As a result of this transaction, NOVAKOVIC PHEBE N now holds 778,092 shares worth roughly $ 173.77 million.
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Then, Gallopoulos Gregory S sold 6,500 shares, generating $1,467,921 in total proceeds. Upon selling the shares at $225.83, the Senior VP, Gen. Counsel, Sec. now owns 113,319 shares.
Before that, Gilliland Marguerite Amy sold 13,500 shares. General Dynamics Corporation shares valued at $3,043,750 were divested by the Senior Vice President at a price of $225.46 per share. As a result of the transaction, Gilliland Marguerite Amy now holds 44,157 shares, worth roughly $9.86 million.
William Blair initiated its General Dynamics Corporation [GD] rating to an Outperform in a research note published on Tuesday.
Price Performance Review of GD
On Tuesday, General Dynamics Corporation [NYSE:GD] saw its stock fall -1.34% to $223.33. On the same session, the stock had its day’s lowest price of $223.21, but rose to a high of $226.56. Over the last five days, the stock has lost -0.90%. General Dynamics Corporation shares have fallen nearly -9.99% since the year began. Nevertheless, the stocks have fallen -0.91% over the past one year. While a 52-week high of $256.86 was reached on 01/06/23, a 52-week low of $202.35 was recorded on 05/30/23. SMA at 50 days reached $220.65, while 200 days put it at $226.94. A total of 0.91 million shares were traded, compared to the trading of 0.57 million shares in the previous session.
Levels Of Support And Resistance For GD Stock
The 24-hour chart illustrates a support level at 222.17, which if violated will result in even more drops to 221.02. On the upside, there is a resistance level at 225.52. A further resistance level may holdings at 227.72. The Relative Strength Index (RSI) on the 14-day chart is 48.56, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.71, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 71.33%. Stochastics %K at 56.20% indicates the stock is a holding.
How much short interest is there in General Dynamics Corporation?
A steep rise in short interest was recorded in General Dynamics Corporation stocks on Aug 14, 2023, dropping by -0.11 million shares to a total of 2.92 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.03 million shares. There was a decline of -3.77%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.20% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.18.
General Dynamics Corporation [GD] – Who Are The Largest Shareholders?
In filings from Longview Asset Management LLC, it is revealed that the company now owns 28,288,796 shares, or roughly 10.36% of the outstanding GD shares. Additionally, The Vanguard Group, Inc. increased 0.69% of its stake after which the total value it holdings stand at $4,773,812,862, while Newport Trust Co. reduced -0.42% of its stake to hold $3.68 billion in the firm. Over the last quarter, Wellington Management Co. LLP purchased 721,693 shares of General Dynamics Corporation, while BlackRock Fund Advisors bought -269,114 shares. At present, SSgA Funds Management, Inc. is holding 9,932,541 shares valued at $2.22 billion. Capital Research & Management Co owned 8,370,315 shares of the company at the time of its most recent 13F filing, worth $1.87 billion.
According to FactSet, General Dynamics Corporation’s share price will average $265.89 in the next year, based on opinions of analysts polled by the firm. This is up nearly 13.97 percent from its previous closing price of $226.37. Analysts expect General Dynamics Corporation stock to reach the higher price of $325.00, while the lowest price estimate is $227.00. However, 24 analysts have rated GD stock as an Overweight in their predictions for 2023.