General Dynamics (GD) Given New $259.00 Price Target at Credit Suisse Group

General Dynamics (NYSE:GD) had its price target hoisted by Credit Suisse Group from $238.00 to $259.00 in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the aerospace company’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 14.86% from the company’s previous close.

Several other equities research analysts have also recently weighed in on GD. Zacks Investment Research raised shares of General Dynamics from a “hold” rating to a “buy” rating and set a $230.00 price target for the company in a research report on Monday, October 2nd. Deutsche Bank reissued a “hold” rating and set a $210.00 price target (up previously from $200.00) on shares of General Dynamics in a research report on Monday, October 2nd. ValuEngine cut shares of General Dynamics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Citigroup reissued a “neutral” rating and set a $215.00 price target (up previously from $210.00) on shares of General Dynamics in a research report on Monday, October 9th. Finally, Cowen reissued a “buy” rating and set a $230.00 price target on shares of General Dynamics in a research report on Thursday, October 19th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $228.16.

Shares of General Dynamics (NYSE:GD) traded down $0.74 on Thursday, reaching $225.50. 1,712,676 shares of the company’s stock traded hands, compared to its average volume of 1,520,000. The stock has a market cap of $67,330.00, a PE ratio of 23.61, a P/E/G ratio of 2.41 and a beta of 0.72. The company has a quick ratio of 0.99, a current ratio of 1.40 and a debt-to-equity ratio of 0.35. General Dynamics has a fifty-two week low of $175.70 and a fifty-two week high of $229.54.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.37 by $0.13. The business had revenue of $8.28 billion during the quarter, compared to analysts’ expectations of $8.40 billion. General Dynamics had a net margin of 9.40% and a return on equity of 27.22%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.89 EPS. analysts predict that General Dynamics will post 11.02 earnings per share for the current fiscal year.

In related news, insider John Patrick Casey sold 34,945 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total value of $7,037,224.10. Following the completion of the transaction, the insider now directly owns 144,378 shares in the company, valued at approximately $29,074,841.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $202.93, for a total transaction of $15,903,624.10. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of GD. Quadrant Capital Group LLC increased its stake in shares of General Dynamics by 6.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 645 shares of the aerospace company’s stock worth $110,000 after acquiring an additional 37 shares in the last quarter. Captrust Financial Advisors bought a new position in shares of General Dynamics in the 2nd quarter worth about $129,000. WFG Advisors LP increased its stake in General Dynamics by 0.3% during the 2nd quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock valued at $132,000 after purchasing an additional 2 shares in the last quarter. Fieldpoint Private Securities LLC bought a new stake in General Dynamics during the 3rd quarter valued at about $148,000. Finally, Edmond DE Rothschild Holding S.A. increased its stake in General Dynamics by 65.3% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 780 shares of the aerospace company’s stock valued at $155,000 after purchasing an additional 308 shares in the last quarter. Institutional investors own 86.82% of the company’s stock.

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General Dynamics 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.

Analyst Recommendations for General Dynamics (NYSE:GD)

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