General Dynamics (NYSE:GD) had its price objective upped by analysts at Bank of America from $245.00 to $260.00 in a report issued on Thursday. The firm presently has a “buy” rating on the aerospace company’s stock. Bank of America’s target price would suggest a potential upside of 15.30% from the company’s current price.
Other equities research analysts have also issued research reports about the company. Jefferies Group raised their price objective on General Dynamics to $247.00 and gave the company a “buy” rating in a research note on Thursday. They noted that the move was a valuation call. Royal Bank of Canada set a $246.00 price objective on General Dynamics and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Citigroup raised their price objective on General Dynamics from $215.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday. Zacks Investment Research lowered General Dynamics from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Wells Fargo & Co lifted their target price on General Dynamics from $225.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday. Three analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $228.16.
Shares of General Dynamics (NYSE:GD) traded down $0.74 during midday trading on Thursday, reaching $225.50. The company’s stock had a trading volume of 1,712,676 shares, compared to its average volume of 1,520,000. General Dynamics has a 12-month low of $175.70 and a 12-month high of $229.54. The company has a current ratio of 1.40, a quick ratio of 0.99 and a debt-to-equity ratio of 0.35. The firm has a market cap of $67,330.00, a price-to-earnings ratio of 23.61, a PEG ratio of 2.41 and a beta of 0.72.
In related news, insider John Patrick Casey sold 34,945 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total value of $7,037,224.10. Following the sale, the insider now owns 144,378 shares of the company’s stock, valued at approximately $29,074,841.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $202.93, for a total value of $15,903,624.10. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in GD. Janus Henderson Group PLC raised its stake in General Dynamics by 44,941.4% during the 2nd quarter. Janus Henderson Group PLC now owns 4,998,693 shares of the aerospace company’s stock valued at $990,241,000 after acquiring an additional 4,987,595 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in General Dynamics by 2,097.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,711,597 shares of the aerospace company’s stock valued at $353,351,000 after acquiring an additional 1,633,700 shares in the last quarter. BlackRock Inc. raised its stake in General Dynamics by 5.3% during the 2nd quarter. BlackRock Inc. now owns 16,338,831 shares of the aerospace company’s stock valued at $3,236,720,000 after acquiring an additional 829,487 shares in the last quarter. Capital Research Global Investors raised its stake in General Dynamics by 4.5% during the 2nd quarter. Capital Research Global Investors now owns 16,792,408 shares of the aerospace company’s stock valued at $3,326,576,000 after acquiring an additional 725,896 shares in the last quarter. Finally, Koch Industries Inc. bought a new stake in General Dynamics during the 2nd quarter valued at $437,000. 86.82% of the stock is currently owned by institutional investors and hedge funds.
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About General Dynamics
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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