In a filing, General Dynamics Corp. revealed its Chairman and CEO NOVAKOVIC PHEBE N unloaded Company’s shares for reported $8.55 million on Jan 29 ’24. In the deal valued at $264.31 per share,32,355 shares were sold. As a result of this transaction, NOVAKOVIC PHEBE N now holds 773,977 shares worth roughly $228.46 million.
Then, Roualet Mark C. sold 73,330 shares, generating $19,414,094 in total proceeds. Upon selling the shares at $264.75, the Executive Vice President now owns 149,205 shares.
Before that, Gallopoulos Gregory S sold 33,200 shares. General Dynamics Corp. shares valued at $7,913,948 were divested by the Senior VP, Gen. Counsel, Sec. at a price of $238.37 per share. As a result of the transaction, Gallopoulos Gregory S now holds 113,319 shares, worth roughly $33.45 million.
Alembic Global Advisors downgraded its General Dynamics Corp. [GD] rating to a Neutral from a an Overweight in a research note published recently. A number of analysts have revised their coverage, including UBS’s analysts, who began to cover the stock in mid October with a ‘”a Neutral”‘ rating. Deutsche Bank began covering GD with “Buy” recommendation on September 28, 2023. William Blair started covering the stock on March 30, 2023. It rated GD as “an Outperform”.
Price Performance Review of GD
On Friday, General Dynamics Corp. [NYSE:GD] saw its stock jump 0.67% to $295.18. Over the last five days, the stock has gained 4.49%. General Dynamics Corp. shares have risen nearly 13.68% since the year began. Nevertheless, the stocks have risen 28.72% over the past one year. While a 52-week high of $294.56 was reached on 04/05/24, a 52-week low of $202.35 was recorded on 01/18/24. SMA at 50 days reached $274.58, while 200 days put it at $243.95. A total of 0.86 million shares were traded, compared to the trading of 1.39 million shares in the previous session.
Levels Of Support And Resistance For GD Stock
The 24-hour chart illustrates a support level at 292.59, which if violated will result in even more drops to 290.01. On the upside, there is a resistance level at 296.61. A further resistance level may holdings at 298.04. The Relative Strength Index (RSI) on the 14-day chart is 80.32, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 8.63, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 1.32%. Stochastics %K at 95.99% indicates the stock is a selling.
How much short interest is there in General Dynamics Corp.?
A steep rise in short interest was recorded in General Dynamics Corp. stocks on Mar 15, 2024, dropping by -0.2 million shares to a total of 1.83 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 2.03 million shares. There was a decline of -10.93%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.75% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.43.
The most recent change occurred on December 08, 2022 when Citigroup began covering the stock and recommended ‘”a Buy”‘ rating along with a $298 price target.
