General Dynamics (NYSE:GD) Price Target Cut to $364.00 by Analysts at Citigroup

General Dynamics (NYSE:GD) had its price objective decreased by Citigroup from $380.00 to $364.00 in a research report report published on Monday, Marketbeat.com reports. Citigroup currently has a neutral rating on the aerospace company’s stock.

Several other equities analysts have also recently weighed in on the stock. BNP Paribas Exane decreased their target price on shares of General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. The Goldman Sachs Group decreased their target price on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating for the company in a research note on Monday, May 4th. Wall Street Zen raised shares of General Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 10th. Finally, JPMorgan Chase & Co. raised their price target on General Dynamics from $385.00 to $400.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and a consensus target price of $387.40.

General Dynamics Price Performance

NYSE:GD opened at $343.25 on Monday. General Dynamics has a 1-year low of $268.10 and a 1-year high of $369.70. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The firm has a fifty day simple moving average of $343.23 and a 200 day simple moving average of $346.60. The stock has a market capitalization of $92.82 billion, a PE ratio of 21.60, a P/E/G ratio of 2.07 and a beta of 0.34.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The business had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $12.70 billion. During the same period last year, the business earned $3.66 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. On average, research analysts expect that General Dynamics will post 16.62 EPS for the current fiscal year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Friday, April 10th were given a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, April 10th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.50. General Dynamics’s dividend payout ratio (DPR) is 40.03%.

Insiders Place Their Bets

In related news, EVP Marguerite Amy Gilliland sold 3,819 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $353.50, for a total value of $1,350,016.50. Following the transaction, the executive vice president owned 44,767 shares in the company, valued at approximately $15,825,134.50. This trade represents a 7.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Phebe N. Novakovic sold 32,918 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $354.09, for a total value of $11,655,934.62. Following the completion of the transaction, the chief executive officer owned 766,457 shares in the company, valued at $271,394,759.13. The trade was a 4.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 119,600 shares of company stock worth $41,650,580 in the last 90 days. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Joule Financial LLC increased its position in shares of General Dynamics by 4.3% in the fourth quarter. Joule Financial LLC now owns 705 shares of the aerospace company’s stock worth $237,000 after purchasing an additional 29 shares during the period. Brown Miller Wealth Management LLC grew its position in General Dynamics by 0.3% in the fourth quarter. Brown Miller Wealth Management LLC now owns 8,889 shares of the aerospace company’s stock valued at $2,993,000 after acquiring an additional 29 shares during the last quarter. First Financial Bankshares Inc grew its position in General Dynamics by 2.6% in the third quarter. First Financial Bankshares Inc now owns 1,196 shares of the aerospace company’s stock valued at $408,000 after acquiring an additional 30 shares during the last quarter. Steph & Co. grew its position in General Dynamics by 65.2% in the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 30 shares during the last quarter. Finally, Klingman & Associates LLC grew its position in General Dynamics by 3.3% in the first quarter. Klingman & Associates LLC now owns 949 shares of the aerospace company’s stock valued at $326,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

About General Dynamics

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.