General Dynamics (NYSE:GD) Given New $320.00 Price Target at Royal Bank of Canada

General Dynamics (NYSE:GD) had its price target reduced by Royal Bank of Canada from $325.00 to $320.00 in a research note released on Thursday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the aerospace company’s stock.

Other research analysts also recently issued research reports about the company. Citigroup upped their price objective on General Dynamics from $283.00 to $300.00 and gave the company a buy rating in a research note on Thursday, January 25th. The Goldman Sachs Group lifted their price target on shares of General Dynamics from $253.00 to $284.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. StockNews.com downgraded General Dynamics from a strong-buy rating to a buy rating in a report on Saturday, February 3rd. Wells Fargo & Company upped their price target on General Dynamics from $291.00 to $322.00 and gave the company an overweight rating in a research report on Thursday, April 4th. Finally, Susquehanna raised their price objective on General Dynamics from $301.00 to $333.00 and gave the stock a positive rating in a research report on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, General Dynamics currently has an average rating of Moderate Buy and a consensus price target of $293.43.

General Dynamics Stock Performance

NYSE:GD opened at $284.41 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $78.03 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 1.81 and a beta of 0.68. General Dynamics has a twelve month low of $202.35 and a twelve month high of $296.50. The stock’s 50-day simple moving average is $280.86 and its 200 day simple moving average is $262.05.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The company had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. During the same quarter in the prior year, the company earned $2.64 earnings per share. General Dynamics’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, analysts anticipate that General Dynamics will post 14.57 EPS for the current fiscal year.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be given a dividend of $1.42 per share. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $5.68 annualized dividend and a dividend yield of 2.00%. General Dynamics’s payout ratio is presently 46.33%.

Institutional Investors Weigh In On General Dynamics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Redmont Wealth Advisors LLC purchased a new stake in shares of General Dynamics in the first quarter valued at about $25,000. MeadowBrook Investment Advisors LLC purchased a new stake in General Dynamics in the 4th quarter valued at about $25,000. Richardson Financial Services Inc. bought a new position in shares of General Dynamics during the 4th quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of General Dynamics in the 1st quarter worth approximately $29,000. Finally, Legend Financial Advisors Inc. grew its holdings in shares of General Dynamics by 46.8% in the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 36 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.