General Dynamics (NYSE:GD) Price Target Raised to $352.00

General Dynamics (NYSE:GD) had its price objective hoisted by Susquehanna from $333.00 to $352.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a positive rating on the aerospace company’s stock.

Several other brokerages also recently weighed in on GD. BTIG Research initiated coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price for the company. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Robert W. Baird reiterated an “outperform” rating and issued a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. Wells Fargo & Company lowered General Dynamics from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $334.00 to $317.00 in a research note on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft cut their target price on General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $320.18.

General Dynamics Stock Up 1.1 %

Shares of NYSE GD opened at $308.29 on Thursday. The stock has a fifty day moving average price of $299.03 and a 200 day moving average price of $294.14. The company has a market cap of $84.58 billion, a P/E ratio of 25.15, a P/E/G ratio of 1.67 and a beta of 0.61. General Dynamics has a 12-month low of $232.29 and a 12-month high of $309.97. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). The company had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.70 earnings per share. Research analysts anticipate that General Dynamics will post 14.38 EPS for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.84%. General Dynamics’s dividend payout ratio is currently 46.33%.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.52% of the company’s stock.

Institutional Trading of General Dynamics

A number of large investors have recently modified their holdings of GD. Grove Bank & Trust grew its position in General Dynamics by 10.6% in the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after purchasing an additional 34 shares during the last quarter. Modera Wealth Management LLC increased its position in General Dynamics by 0.4% in the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after acquiring an additional 35 shares during the period. Rathbones Group PLC raised its stake in General Dynamics by 1.8% during the 2nd quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock valued at $587,000 after acquiring an additional 35 shares in the last quarter. Legend Financial Advisors Inc. boosted its position in General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 36 shares during the period. Finally, Diversified Trust Co grew its stake in shares of General Dynamics by 2.5% in the first quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.