General Dynamics Corporation (GD) Given “Neutral” Rating at Citigroup Inc.
General Dynamics Corporation (NYSE:GD)‘s stock had its “neutral” rating reissued by equities research analysts at Citigroup Inc. in a research note issued to investors on Friday. They currently have a $210.00 price objective on the aerospace company’s stock, up from their previous price objective of $207.00. Citigroup Inc.’s price objective suggests a potential upside of 6.12% from the company’s previous close.
A number of other research firms have also weighed in on GD. BidaskClub raised General Dynamics Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $220.00 price objective on shares of General Dynamics Corporation in a research report on Friday, June 2nd. ValuEngine raised General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $220.00 price objective on shares of General Dynamics Corporation in a research report on Friday, July 7th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $210.00 price objective on shares of General Dynamics Corporation in a research report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $206.59.
Shares of General Dynamics Corporation (NYSE GD) traded up 0.75% during mid-day trading on Friday, hitting $199.37. The stock had a trading volume of 166,794 shares. General Dynamics Corporation has a 12 month low of $148.76 and a 12 month high of $205.90. The stock has a market cap of $59.77 billion, a P/E ratio of 19.70 and a beta of 0.71. The firm has a 50 day moving average price of $199.82 and a 200-day moving average price of $193.74.
General Dynamics Corporation (NYSE:GD) last announced its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.02. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. The firm had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.76 billion. During the same quarter in the prior year, the company earned $2.30 EPS. The business’s revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts forecast that General Dynamics Corporation will post $9.82 EPS for the current year.
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In other General Dynamics Corporation news, VP Christopher Marzilli sold 43,890 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $201.37, for a total transaction of $8,838,129.30. Following the sale, the vice president now directly owns 107,857 shares in the company, valued at approximately $21,719,164.09. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lester L. Lyles sold 2,551 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $196.01, for a total value of $500,021.51. Following the sale, the director now owns 7,336 shares in the company, valued at $1,437,929.36. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Nicholas Hoffman & Company LLC. increased its position in General Dynamics Corporation by 38.4% in the second quarter. Nicholas Hoffman & Company LLC. now owns 2,885 shares of the aerospace company’s stock worth $572,000 after buying an additional 801 shares during the period. Bank of Hawaii increased its position in General Dynamics Corporation by 2.5% in the second quarter. Bank of Hawaii now owns 6,885 shares of the aerospace company’s stock worth $1,364,000 after buying an additional 170 shares during the period. Veritable L.P. increased its position in General Dynamics Corporation by 4.0% in the second quarter. Veritable L.P. now owns 11,286 shares of the aerospace company’s stock worth $2,236,000 after buying an additional 436 shares during the period. Bancorpsouth Inc. increased its position in General Dynamics Corporation by 7.4% in the second quarter. Bancorpsouth Inc. now owns 19,156 shares of the aerospace company’s stock worth $3,794,000 after buying an additional 1,317 shares during the period. Finally, OxFORD Asset Management LLP purchased a new position in General Dynamics Corporation during the second quarter worth about $1,719,000. Hedge funds and other institutional investors own 86.77% of the company’s stock.
General Dynamics Corporation Company Profile
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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