Deutsche Bank AG Reiterates Hold Rating for General Dynamics Corp. (GD)
General Dynamics Corp. (NYSE:GD)‘s stock had its “hold” rating reiterated by Deutsche Bank AG in a research note issued to investors on Tuesday.
Several other research analysts have also recently issued reports on the stock. Vetr upgraded shares of General Dynamics Corp. from a “hold” rating to a “strong-buy” rating and set a $169.96 price objective for the company in a report on Monday. Zacks Investment Research cut shares of General Dynamics Corp. from a “buy” rating to a “hold” rating in a report on Monday. Robert W. Baird began coverage on shares of General Dynamics Corp. in a report on Thursday, October 6th. They issued an “outperform” rating and a $181.00 price objective for the company. Citigroup Inc. increased their price objective on shares of General Dynamics Corp. from $162.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, September 6th. Finally, Sanford C. Bernstein upgraded shares of General Dynamics Corp. from a “market perform” rating to an “outperform” rating and set a $180.00 price objective for the company in a report on Wednesday, August 10th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $159.66.
Shares of General Dynamics Corp. (NYSE:GD) traded up 0.93% on Tuesday, hitting $151.88. The company had a trading volume of 703,763 shares. The stock has a market cap of $46.24 billion, a PE ratio of 16.15 and a beta of 0.76. The company has a 50-day moving average of $152.73 and a 200 day moving average of $144.86. General Dynamics Corp. has a 12 month low of $121.61 and a 12 month high of $156.97.
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General Dynamics Corp. (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.31 by $0.13. General Dynamics Corp. had a net margin of 9.53% and a return on equity of 27.74%. The company had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter last year, the business earned $2.27 earnings per share. General Dynamics Corp.’s revenue was down 2.8% compared to the same quarter last year. Analysts anticipate that General Dynamics Corp. will post $9.73 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be given a $0.76 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $3.04 dividend on an annualized basis and a yield of 2.00%. General Dynamics Corp.’s payout ratio is 32.27%.
In other news, insider Robert W. Helm sold 149,910 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $152.43, for a total transaction of $22,850,781.30. Following the transaction, the insider now owns 108,119 shares in the company, valued at approximately $16,480,579.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert W. Helm sold 87,790 shares of the firm’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 transaction, the insider now owns 157,176 shares in the company, valued at approximately $23,719,430.16. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Reynolds Capital Management LLC acquired a new position in General Dynamics Corp. during the first quarter worth $263,000. Sun Life Financial INC acquired a new position in General Dynamics Corp. during the first quarter worth $106,147,000. Wellington Management Group LLP increased its position in General Dynamics Corp. by 4.9% in the first quarter. Wellington Management Group LLP now owns 3,166,973 shares of the company’s stock worth $416,045,000 after buying an additional 147,072 shares in the last quarter. Simmons Bank acquired a new position in General Dynamics Corp. during the first quarter worth $315,000. Finally, Geode Capital Management LLC increased its position in General Dynamics Corp. by 2.5% in the first quarter. Geode Capital Management LLC now owns 2,603,362 shares of the company’s stock worth $341,383,000 after buying an additional 63,236 shares in the last quarter. Institutional investors and hedge funds own 87.68% of the company’s stock.
General Dynamics Corp. Company Profile
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.
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