The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. General Dynamics Corp. shares valued at $3,914,229 were sold by Gallopoulos Gregory S on Apr 29 ’24. At $288.51 per share, Gallopoulos Gregory S sold 13,567 shares. The insider’s holdings dropped to 103,345 shares worth approximately $29.61 million following the completion of this transaction.
Also, NOVAKOVIC PHEBE N sold 49,850 shares, netting a total of over 14,182,349 in proceeds. Following the sale of shares at $284.50 each, the insider now holds 768,977 shares.
Before that, NOVAKOVIC PHEBE N had sold 32,355 shares from its account. In a trade valued at $8,551,758, the Chairman and CEO traded General Dynamics Corp. shares for $264.31 each. Upon closing the transaction, the insider’s holdings decreased to 32,355 shares, worth approximately $221.77 million.
As published in a research note from Jefferies on April 29, 2024, General Dynamics Corp. [GD] has been rated up from a Hold to a Buy and the price target has been revised to $335 from $305. Analysts at Alembic Global Advisors downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in late January. As of October 11, 2023, UBS has initiated its “Neutral” rating for GD. Earlier on September 28, 2023, Deutsche Bank initiated its rating. Their recommendation was “a Buy” for GD stock.
Analyzing GD Stock Performance
During the last five days, there has been a surge of approximately 1.93%. Over the course of the year, General Dynamics Corp. shares have jumped approximately 10.34%. 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 $281.67, while a 200-day SMA reached $250.48. Nevertheless, trading volume fell to 0.89 million shares from 1.42 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 284.88, which, if violated, would cause prices to drop to 283.22. In the upper region, resistance lies at 288.14. The next price resistance is at 289.74. RSI (Relative Strength Index) is 51.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.56, which suggests the price will decrease in the coming days. Percent R is at 40.06%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
