Royal Bank of Canada Increases General Dynamics (GD) Price Target to $258.00

General Dynamics (NYSE:GD) had its price target raised by stock analysts at Royal Bank of Canada to $258.00 in a report issued on Thursday, The Fly reports. The firm currently has an “outperform” rating on the aerospace company’s stock. Royal Bank of Canada’s target price points to a potential upside of 13.89% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Credit Suisse Group restated an “outperform” rating and set a $238.00 price objective (up from $216.00) on shares of General Dynamics in a research note on Thursday, October 26th. JPMorgan Chase & Co. cut General Dynamics from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $225.00 to $215.00 in a research note on Tuesday, December 12th. Stifel Nicolaus upped their price objective on General Dynamics from $200.00 to $210.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Zacks Investment Research cut General Dynamics from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Finally, Cowen restated a “buy” rating and set a $230.00 price objective on shares of General Dynamics in a research note on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. General Dynamics currently has an average rating of “Hold” and a consensus price target of $228.16.

Shares of General Dynamics (NYSE GD) traded up $7.26 during midday trading on Thursday, hitting $226.53. The company had a trading volume of 3,124,701 shares, compared to its average volume of 1,440,000. The company has a quick ratio of 0.93, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The stock has a market cap of $67,640.00, a PE ratio of 22.50, 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 $227.71.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.13. The firm had revenue of $8.28 billion during the quarter, compared to analysts’ expectations of $8.40 billion. General Dynamics had a return on equity of 27.98% and a net margin of 9.94%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 EPS. analysts predict that General Dynamics will post 9.82 EPS for the current year.

In other news, insider John Patrick Casey sold 34,945 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 144,378 shares of the company’s stock, valued at $29,074,841.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $202.93, for a total value of $15,903,624.10. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Pathstone Family Office LLC grew its holdings in General Dynamics by 100.0% during the second quarter. Pathstone Family Office LLC now owns 24 shares of the aerospace company’s stock worth $4,754,000 after acquiring an additional 12 shares during the period. Quadrant Capital Group LLC grew its holdings in General Dynamics by 6.1% during the second quarter. Quadrant Capital Group LLC now owns 645 shares of the aerospace company’s stock worth $110,000 after acquiring an additional 37 shares during the period. Captrust Financial Advisors acquired a new stake in General Dynamics during the second quarter worth about $129,000. WFG Advisors LP grew its holdings in General Dynamics by 0.3% during the second quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock worth $132,000 after acquiring an additional 2 shares during the period. Finally, Fieldpoint Private Securities LLC acquired a new stake in General Dynamics during the third quarter worth about $148,000. 86.82% of the stock is currently owned by hedge funds and other institutional investors.

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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.