Vetr Inc. Upgrades General Dynamics Corp. (GD) to Strong-Buy
General Dynamics Corp. (NYSE:GD) was upgraded by equities researchers at Vetr from a “hold” rating to a “strong-buy” rating in a research note issued on Monday. The brokerage currently has a $169.96 price target on the stock. Vetr‘s target price would indicate a potential upside of 12.95% from the stock’s current price.
GD has been the topic of several other research reports. Jefferies Group reissued a “buy” rating on shares of General Dynamics Corp. in a research report on Wednesday, August 3rd. Sanford C. Bernstein raised shares of General Dynamics Corp. from a “market perform” rating to an “outperform” rating and set a $180.00 target price on the stock in a research report on Wednesday, August 10th. They noted that the move was a valuation call. Argus boosted their target price on shares of General Dynamics Corp. from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Deutsche Bank AG reissued a “hold” rating on shares of General Dynamics Corp. in a research report on Friday, September 23rd. Finally, Citigroup Inc. boosted their target price on shares of General Dynamics Corp. from $162.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, September 6th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $159.66.
Shares of General Dynamics Corp. (NYSE:GD) traded down 0.57% during mid-day trading on Monday, hitting $150.48. 971,617 shares of the stock were exchanged. General Dynamics Corp. has a 52-week low of $121.61 and a 52-week high of $156.97. The stock’s 50-day moving average price is $152.73 and its 200-day moving average price is $144.86. The company has a market cap of $45.82 billion, a P/E ratio of 16.00 and a beta of 0.76.
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General Dynamics Corp. (NYSE:GD) last released its earnings results on Wednesday, July 27th. The company reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.13. The company had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.88 billion. General Dynamics Corp. had a net margin of 9.53% and a return on equity of 27.74%. General Dynamics Corp.’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.27 EPS. Equities research analysts anticipate that General Dynamics Corp. will post $9.73 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Wednesday, October 5th. General Dynamics Corp.’s payout ratio is 32.27%.
In other news, insider Robert W. Helm sold 87,790 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $150.91, for a total transaction of $13,248,388.90. Following the completion of the sale, the insider now owns 157,176 shares of the company’s stock, valued at $23,719,430.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider S. Daniel Johnson sold 33,650 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $147.91, for a total transaction of $4,977,171.50. Following the sale, the insider now directly owns 107,922 shares of the company’s stock, valued at approximately $15,962,743.02. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Jennison Associates purchased a new stake in shares of General Dynamics Corp. during the third quarter worth about $1,866,000. Meag Munich Ergo Kapitalanlagegesellschaft purchased a new stake in shares of General Dynamics Corp. during the third quarter worth about $17,489,000. TrimTabs Asset Management purchased a new stake in shares of General Dynamics Corp. during the third quarter worth about $2,112,000. Indiana Trust & Investment Management Company raised its stake in shares of General Dynamics Corp. by 5.4% in the fourth quarter. Indiana Trust & Investment Management Company now owns 11,630 shares of the company’s stock worth $1,601,000 after buying an additional 600 shares in the last quarter. Finally, Community Bank & Trust of Waco, Texas purchased a new stake in shares of General Dynamics Corp. during the fourth quarter worth about $1,847,000. 87.68% of the stock is owned by institutional investors and hedge funds.
About General Dynamics Corp.
General Dynamics Corporation is an aerospace and defense company that offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions and information technology (IT) services, and shipbuilding.
To view Vetr’s full report, visit Vetr’s official website.
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