TD Cowen Boosts General Dynamics (NYSE:GD) Price Target to $300.00

General Dynamics (NYSE:GDFree Report) had its target price raised by TD Cowen from $290.00 to $300.00 in a research report report published on Wednesday morning,Benzinga reports. TD Cowen currently has a buy rating on the aerospace company’s stock.

GD has been the subject of several other reports. Cowen restated a “buy” rating on shares of General Dynamics in a research note on Thursday, April 24th. TD Securities raised their target price on General Dynamics from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Morgan Stanley reduced their target price on General Dynamics from $305.00 to $300.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. UBS Group raised their target price on General Dynamics from $268.00 to $279.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. Finally, Susquehanna lifted their price target on General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a research note on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $293.28.

Check Out Our Latest Stock Report on General Dynamics

General Dynamics Trading Up 1.8%

Shares of GD stock opened at $286.07 on Wednesday. The company has a market cap of $76.78 billion, a PE ratio of 19.84, a P/E/G ratio of 1.89 and a beta of 0.46. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34. General Dynamics has a fifty-two week low of $239.20 and a fifty-two week high of $316.90. The stock’s fifty day moving average price is $275.93 and its two-hundred day moving average price is $266.76.

General Dynamics (NYSE:GDGet Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.23. The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.92 billion. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the company posted $2.88 EPS. Equities analysts predict that General Dynamics will post 14.83 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a $1.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 annualized dividend and a yield of 2.10%. General Dynamics’s payout ratio is 41.61%.

Insider Activity at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the sale, the chief executive officer now owns 769,607 shares in the company, valued at $217,898,829.91. This represents a 18.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On General Dynamics

Several institutional investors have recently made changes to their positions in the stock. Principal Securities Inc. lifted its position in shares of General Dynamics by 0.5% during the first quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company’s stock worth $2,161,000 after acquiring an additional 37 shares in the last quarter. Sharpepoint LLC lifted its position in shares of General Dynamics by 4.2% during the first quarter. Sharpepoint LLC now owns 917 shares of the aerospace company’s stock worth $249,000 after acquiring an additional 37 shares in the last quarter. United Asset Strategies Inc. lifted its position in shares of General Dynamics by 1.2% during the first quarter. United Asset Strategies Inc. now owns 3,140 shares of the aerospace company’s stock worth $856,000 after acquiring an additional 37 shares in the last quarter. 1858 Wealth Management LLC lifted its position in shares of General Dynamics by 1.2% during the first quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company’s stock worth $879,000 after acquiring an additional 38 shares in the last quarter. Finally, Keystone Financial Services lifted its position in shares of General Dynamics by 1.6% during the first quarter. Keystone Financial Services now owns 2,421 shares of the aerospace company’s stock worth $660,000 after acquiring an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

About General Dynamics

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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.

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