In a recent transaction, Mark Lagrand Burns, Vice President of General Dynamics Corp (NYSE:GD), sold 12,089 shares of the company's common stock. The sale, which took place on May 17, 2024, was executed at a price of $296.59 per share, totaling approximately $3.59 million.
This transaction has adjusted Burns’ direct holdings in General Dynamics to 64,132.154 shares. Additionally, it's important to note that Burns also has an indirect ownership stake in the company through a 401(k) plan, which includes share activity since his last reported ownership.
General Dynamics, known for its work in ship and boat building and repairing, continues to be a significant player in the manufacturing sector. The sale by a high-ranking executive such as Burns may be of interest to investors monitoring insider activity within the company.
Investors and followers of General Dynamics will be keeping a close watch on the company's stock performance and any further insider transactions that may provide insights into the company's financial health and executive confidence. As always, insider transactions are publicly reported and provide a window into the actions of those closest to the company's operations.
InvestingPro Insights
Amidst the insider trading activity, General Dynamics Corp (NYSE:GD) continues to demonstrate financial resilience and investor confidence. An InvestingPro Tip highlights that General Dynamics has raised its dividend for 10 consecutive years, indicating a strong commitment to returning value to shareholders. Additionally, the company has maintained dividend payments for an impressive 46 years, underscoring its financial stability and reliability as an income-generating investment.
InvestingPro Data reveals that General Dynamics boasts a market capitalization of $81.76 billion, with a P/E ratio of 24.13 as of the last twelve months ending Q1 2024. The company has experienced a revenue growth of 8.09% during the same period, further cementing its position as a prominent player in the Aerospace & Defense industry. Notably, the stock is trading near its 52-week high, at 99.1% of the peak price, reflecting a strong market sentiment.
For investors seeking additional insights, there are more InvestingPro Tips available, including analysis on earnings revisions by analysts and the company's debt levels. To access these insights and enhance your investment decisions, visit https://www.investing.com/pro/GD and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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