General Dynamics (NYSE:GD) had its target price boosted by equities research analysts at Citigroup from $215.00 to $235.00 in a research report issued to clients and investors on Thursday. The firm currently has a “neutral” rating on the aerospace company’s stock. Citigroup’s price target points to a potential upside of 3.87% from the company’s previous close.
A number of other analysts have also commented on the stock. Credit Suisse Group reissued an “outperform” rating and issued a $238.00 price objective (up previously from $216.00) on shares of General Dynamics in a research report on Thursday, October 26th. JPMorgan Chase & Co. lowered shares of General Dynamics from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $225.00 to $215.00 in a research report on Tuesday, December 12th. Stifel Nicolaus boosted their price objective on shares of General Dynamics from $200.00 to $210.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Zacks Investment Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Finally, Royal Bank of Canada set a $239.00 price objective on shares of General Dynamics and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $228.16.
Shares of General Dynamics (NYSE GD) traded down $0.29 on Thursday, reaching $226.24. 1,977,734 shares of the company’s stock were exchanged, compared to its average volume of 1,554,666. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 1.40. General Dynamics has a 1 year low of $175.25 and a 1 year high of $227.71. The company has a market capitalization of $67,255.77, a price-to-earnings ratio of 23.69, a P/E/G ratio of 2.43 and a beta of 0.72.
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 Zacks’ consensus estimate of $2.37 by $0.13. General Dynamics had a net margin of 9.40% and a return on equity of 27.22%. The firm had revenue of $8.28 billion for the quarter, compared to analyst estimates of $8.40 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. research analysts forecast that General Dynamics will post 10.95 EPS for the current year.
In related news, insider John Patrick Casey sold 34,945 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total transaction of $7,037,224.10. Following the transaction, the insider now directly owns 144,378 shares in the company, valued at $29,074,841.64. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the business’s stock in a transaction on 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 insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. ETRADE Capital Management LLC increased its holdings in shares of General Dynamics by 38.0% in the third quarter. ETRADE Capital Management LLC now owns 2,337 shares of the aerospace company’s stock valued at $481,000 after purchasing an additional 643 shares during the last quarter. Brightworth acquired a new position in shares of General Dynamics in the third quarter valued at $5,882,000. Park National Corp OH increased its holdings in shares of General Dynamics by 7.6% in the third quarter. Park National Corp OH now owns 45,986 shares of the aerospace company’s stock valued at $9,454,000 after purchasing an additional 3,234 shares during the last quarter. Amalgamated Bank increased its holdings in shares of General Dynamics by 1.8% in the third quarter. Amalgamated Bank now owns 30,733 shares of the aerospace company’s stock valued at $6,318,000 after purchasing an additional 549 shares during the last quarter. Finally, Alpha Cubed Investments LLC acquired a new position in shares of General Dynamics in the third quarter valued at $278,000. Institutional investors and hedge funds own 86.82% of the company’s stock.
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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.