General Dynamics (NYSE:GD) had its target price boosted by equities research analysts at Citigroup from $215.00 to $235.00 in a research report issued to clients and investors on Thursday. The firm currently has a “neutral” rating on the aerospace company’s stock. Citigroup’s price target points to a potential upside of 3.87% from the company’s previous close.
A number of other analysts have also commented on the stock. Credit Suisse Group reissued an “outperform” rating and issued a $238.00 price objective (up previously from $216.00) on shares of General Dynamics in a research report on Thursday, October 26th. JPMorgan Chase & Co. lowered shares of General Dynamics from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $225.00 to $215.00 in a research report on Tuesday, December 12th. Stifel Nicolaus boosted their price objective on shares of General Dynamics from $200.00 to $210.00 and gave the stock a “hold” rating in a research report on Thursday, October 26th. Zacks Investment Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Finally, Royal Bank of Canada set a $239.00 price objective on shares of General Dynamics and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $228.16.
Shares of General Dynamics (NYSE GD) traded down $0.29 on Thursday, reaching $226.24. 1,977,734 shares of the company’s stock were exchanged, compared to its average volume of 1,554,666. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 1.40. General Dynamics has a 1 year low of $175.25 and a 1 year high of $227.71. The company has a market capitalization of $67,255.77, a price-to-earnings ratio of 23.69, a P/E/G ratio of 2.43 and a beta of 0.72.
In related news, insider John Patrick Casey sold 34,945 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total transaction of $7,037,224.10. Following the transaction, the insider now directly owns 144,378 shares in the company, valued at $29,074,841.64. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $202.93, for a total transaction of $15,903,624.10. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. ETRADE Capital Management LLC increased its holdings in shares of General Dynamics by 38.0% in the third quarter. ETRADE Capital Management LLC now owns 2,337 shares of the aerospace company’s stock valued at $481,000 after purchasing an additional 643 shares during the last quarter. Brightworth acquired a new position in shares of General Dynamics in the third quarter valued at $5,882,000. Park National Corp OH increased its holdings in shares of General Dynamics by 7.6% in the third quarter. Park National Corp OH now owns 45,986 shares of the aerospace company’s stock valued at $9,454,000 after purchasing an additional 3,234 shares during the last quarter. Amalgamated Bank increased its holdings in shares of General Dynamics by 1.8% in the third quarter. Amalgamated Bank now owns 30,733 shares of the aerospace company’s stock valued at $6,318,000 after purchasing an additional 549 shares during the last quarter. Finally, Alpha Cubed Investments LLC acquired a new position in shares of General Dynamics in the third quarter valued at $278,000. Institutional investors and hedge funds own 86.82% of the company’s stock.
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About General Dynamics
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.
