Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. General Dynamics Corp. shares valued at $8,551,758 were sold by NOVAKOVIC PHEBE N on Jan 29 ’24. At $264.31 per share, NOVAKOVIC PHEBE N sold 32,355 shares. The insider’s holdings dropped to 773,977 shares worth approximately $224.48 million following the completion of this transaction.
Also, Roualet Mark C. sold 73,330 shares, netting a total of over 19,414,094 in proceeds. Following the sale of shares at $264.75 each, the insider now holds 149,205 shares.
Before that, Gallopoulos Gregory S had sold 33,200 shares from its account. In a trade valued at $7,913,948, the Senior VP, Gen. Counsel, Sec. traded General Dynamics Corp. shares for $238.37 each. Upon closing the transaction, the insider’s holdings decreased to 33,200 shares, worth approximately $32.87 million.
As published in a research note from Alembic Global Advisors on January 29, 2024, General Dynamics Corp. [GD] has been rated down from an Overweight to a Neutral and the price target has been revised to $296. Analysts at UBS started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid October. As of September 28, 2023, Deutsche Bank has initiated its “Buy” rating for GD. Earlier on March 30, 2023, William Blair initiated its rating. Their recommendation was “an Outperform” for GD stock.
Analyzing GD Stock Performance
During the last five days, there has been a drop of approximately -0.57%. Over the course of the year, General Dynamics Corp. shares have jumped approximately 11.70%. Shares of the company reached a 52-week high of $296.50 on 04/08/24 and a 52-week low of $247.36 on 01/18/24. A 50-day SMA is recorded $276.10, while a 200-day SMA reached $245.09. Nevertheless, trading volume fell to 0.94 million shares from 1.01 million shares the previous day.
Support And Resistance Levels for General Dynamics Corp. (GD)
According to the 24-hour chart, there is a support level at 287.55, which, if violated, would cause prices to drop to 285.07. In the upper region, resistance lies at 291.63. The next price resistance is at 293.23. RSI (Relative Strength Index) is 64.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.64, which suggests the price will increase in the coming days. Percent R is at 35.59%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is General Dynamics Corp. subject to short interest?
Stocks of General Dynamics Corp. saw a sharp steep in short interest on Mar 28, 2024 dropping by -0.13 million shares to 1.5 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 1.63 million shares. A decline of -8.67% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.87 of the overall float, the days-to-cover ratio (short ratio) decline to 1.87.
