Argus Increases General Dynamics (NYSE:GD) Price Target to $310.00

General Dynamics (NYSE:GD) had its price target upped by Argus from $290.00 to $310.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the aerospace company’s stock. Argus’ price objective would suggest a potential upside of 7.95% from the stock’s current price.

A number of other analysts also recently weighed in on GD. Alembic Global Advisors downgraded General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 target price for the company. in a research report on Monday, January 29th. StockNews.com raised General Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Royal Bank of Canada cut their target price on General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. The Goldman Sachs Group upped their target price on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, Barclays increased their price target on General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and a consensus price target of $297.06.

General Dynamics Stock Down 0.2 %

GD stock opened at $287.16 on Monday. The business’s 50 day simple moving average is $281.59 and its 200 day simple moving average is $262.72. The firm has a market capitalization of $78.79 billion, a PE ratio of 23.42, a PEG ratio of 1.77 and a beta of 0.68. General Dynamics has a 1-year low of $202.35 and a 1-year high of $296.50. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41.

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

Insider Activity

In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the sale, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the transaction, the vice president now owns 103,345 shares in the company, valued at approximately $29,816,065.95. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $284.50, for a total value of $14,182,325.00. Following the transaction, the chief executive officer now owns 768,977 shares in the company, valued at approximately $218,773,956.50. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GD. Vanguard Group Inc. grew its holdings in shares of General Dynamics by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 22,423,961 shares of the aerospace company’s stock worth $4,955,023,000 after acquiring an additional 133,061 shares during the period. Wellington Management Group LLP lifted its position in General Dynamics by 12.0% in the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock valued at $3,615,185,000 after acquiring an additional 1,755,276 shares in the last quarter. Sanders Capital LLC lifted its position in General Dynamics by 3.7% in the 4th quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock valued at $1,081,488,000 after acquiring an additional 147,800 shares in the last quarter. Norges Bank bought a new position in shares of General Dynamics during the 4th quarter valued at $728,284,000. Finally, FMR LLC lifted its holdings in shares of General Dynamics by 13.7% during the 3rd quarter. FMR LLC now owns 2,293,269 shares of the aerospace company’s stock valued at $506,744,000 after buying an additional 275,947 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

About General Dynamics

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.