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Drive Wealth Management and General Dynamics CEO sold shares, despite the company reporting strong quarterly earnings.
Institutional investor Drive Wealth Management LLC reduced its stake in aerospace company General Dynamics by 7.7% in the first quarter, selling 116 shares.
Meanwhile, CEO Phebe N. Novakovic sold 178,821 shares, lowering her position by 18.85%.
General Dynamics reported a strong quarter with $13.04 billion in revenue, up 8.9% year-over-year, and $3.74 EPS, beating estimates.
The stock has a "Hold" rating and a $312.17 target price.
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Drive Wealth Management y el CEO de General Dynamics vendieron acciones, a pesar de que la compañía reportó fuertes ganancias trimestrales.