General Dynamics (NYSE:GD) had its target price boosted by equities research analysts at Morgan Stanley from $170.00 to $171.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. The firm presently has an “underweight” rating on the aerospace company’s stock. Morgan Stanley’s price target would suggest a potential downside of 0.55% from the stock’s current price.
Several other research firms have also commented on GD. Zacks Investment Research lowered General Dynamics from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. UBS Group boosted their price target on General Dynamics from $175.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. ValuEngine upgraded General Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, June 6th. Cowen restated a “buy” rating and issued a $202.00 target price on shares of General Dynamics in a research note on Wednesday, April 24th. Finally, Goldman Sachs Group upgraded General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 target price on the stock in a research note on Sunday, May 19th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. General Dynamics currently has an average rating of “Hold” and a consensus target price of $196.22.
Shares of General Dynamics stock opened at $171.94 on Friday. The company has a market capitalization of $49.12 billion, a PE ratio of 15.06, a P/E/G ratio of 1.63 and a beta of 1.15. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.23 and a quick ratio of 0.82. General Dynamics has a one year low of $143.87 and a one year high of $207.72.
General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 24th. The aerospace company reported $2.56 EPS for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.18. General Dynamics had a return on equity of 27.62% and a net margin of 8.68%. The firm had revenue of $9.26 billion during the quarter, compared to analysts’ expectations of $8.90 billion. During the same quarter in the previous year, the business earned $2.65 EPS. The company’s quarterly revenue was up 22.9% on a year-over-year basis. As a group, research analysts forecast that General Dynamics will post 11.76 earnings per share for the current year.
In other news, EVP John Patrick Casey sold 45,470 shares of General Dynamics stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $172.46, for a total transaction of $7,841,756.20. Following the sale, the executive vice president now owns 148,133 shares in the company, valued at $25,547,017.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.10% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of GD. Financial Gravity Companies Inc. purchased a new stake in General Dynamics during the 4th quarter worth $25,000. Harvest Group Wealth Management LLC bought a new stake in General Dynamics during the first quarter worth approximately $28,000. Aspire Private Capital LLC bought a new stake in General Dynamics during the fourth quarter worth approximately $29,000. TCG Advisors LP bought a new stake in General Dynamics during the first quarter worth approximately $38,000. Finally, Zions Bancorporation N.A. bought a new stake in General Dynamics during the first quarter worth approximately $40,000. Hedge funds and other institutional investors own 86.48% of the company’s stock.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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