General Dynamics (NYSE:GD) has been assigned a $246.00 price objective by investment analysts at Royal Bank of Canada in a report released on Tuesday. The firm presently has a “buy” rating on the aerospace company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 14.93% from the stock’s current price.
Several other analysts have also weighed in on the company. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $234.00 price objective for the company in a report on Friday, January 19th. Stifel Nicolaus reaffirmed a “hold” rating and set a $220.00 target price on shares of General Dynamics in a report on Tuesday, January 9th. Jefferies Group reaffirmed a “buy” rating and set a $237.00 target price on shares of General Dynamics in a report on Monday, January 8th. JPMorgan Chase & Co. lowered General Dynamics from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $225.00 to $215.00 in a report on Tuesday, December 12th. Finally, ValuEngine lowered General Dynamics from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $219.39.
Shares of General Dynamics (NYSE:GD) traded up $6.56 during trading on Tuesday, reaching $214.04. The company had a trading volume of 1,181,600 shares, compared to its average volume of 1,527,313. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.93 and a current ratio of 1.37. The company has a market capitalization of $61,950.00, a price-to-earnings ratio of 21.25, a P/E/G ratio of 2.23 and a beta of 0.72. General Dynamics has a 1 year low of $172.43 and a 1 year high of $214.81.
In related news, VP Gregory S. Gallopoulos sold 78,370 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $202.93, for a total value of $15,903,624.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Patrick Casey sold 34,945 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total value of $7,037,224.10. Following the completion of the transaction, the insider now directly owns 144,378 shares of the company’s stock, valued at $29,074,841.64. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Flagship Harbor Advisors LLC acquired a new stake in General Dynamics in the fourth quarter worth approximately $209,000. Ascension Asset Management LLC acquired a new stake in General Dynamics in the fourth quarter worth approximately $1,342,000. Fisher Asset Management LLC lifted its position in General Dynamics by 3.8% in the fourth quarter. Fisher Asset Management LLC now owns 14,199 shares of the aerospace company’s stock worth $2,889,000 after purchasing an additional 525 shares during the period. Brightworth lifted its position in General Dynamics by 1.6% in the fourth quarter. Brightworth now owns 29,055 shares of the aerospace company’s stock worth $5,911,000 after purchasing an additional 444 shares during the period. Finally, Pratt Collard Advisory Partners LLC acquired a new stake in shares of General Dynamics during the 4th quarter valued at $468,000. 86.82% of the stock is owned by institutional investors and hedge funds.
General Dynamics Company Profile
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
