General Dynamics Corporation (GD) Receives $197.89 Average Price Target from Analysts

General Dynamics Corporation (NYSE:GD) has earned a consensus recommendation of “Buy” from the fifteen research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $197.89.

Several equities research analysts have recently commented on GD shares. Vetr cut shares of General Dynamics Corporation from a “hold” rating to a “sell” rating and set a $170.68 price target for the company. in a research report on Monday, March 13th. Zacks Investment Research cut shares of General Dynamics Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, March 29th. Citigroup Inc. cut shares of General Dynamics Corporation from a “buy” rating to a “neutral” rating and set a $202.00 price target for the company. in a research report on Wednesday, March 1st. Royal Bank of Canada lifted their price target on shares of General Dynamics Corporation from $211.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, April 27th. Finally, Sanford C. Bernstein cut shares of General Dynamics Corporation from an “outperform” rating to a “market perform” rating and set a $212.00 price target for the company. in a research report on Tuesday, May 9th. They noted that the move was a valuation call.

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General Dynamics Corporation (NYSE:GD) traded up 0.32% during midday trading on Monday, hitting $202.67. 1,391,515 shares of the stock were exchanged. General Dynamics Corporation has a 52 week low of $132.68 and a 52 week high of $205.07. The stock has a market cap of $61.16 billion, a price-to-earnings ratio of 20.33 and a beta of 0.70. The firm’s 50-day moving average is $197.98 and its 200 day moving average is $187.08.

General Dynamics Corporation (NYSE:GD) last posted its quarterly earnings data on Wednesday, April 26th. The aerospace company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.16. General Dynamics Corporation had a net margin of 9.66% and a return on equity of 28.22%. The firm had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.70 billion. During the same quarter last year, the company posted $2.08 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. Equities research analysts expect that General Dynamics Corporation will post $9.81 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Friday, July 7th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Wednesday, July 5th. General Dynamics Corporation’s payout ratio is currently 34.60%.

In other news, VP Mark Lagrand Burns sold 19,075 shares of the business’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $187.89, for a total value of $3,584,001.75. Following the sale, the vice president now owns 48,453 shares of the company’s stock, valued at $9,103,834.17. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mary T. Barra sold 9,860 shares of the business’s stock in a transaction on Friday, March 24th. The stock was sold at an average price of $188.07, for a total transaction of $1,854,370.20. Following the completion of the sale, the director now directly owns 11,636 shares in the company, valued at approximately $2,188,382.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,376 shares of company stock worth $14,776,523. Insiders own 6.70% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Rothschild Asset Management Inc. increased its position in shares of General Dynamics Corporation by 17.4% in the third quarter. Rothschild Asset Management Inc. now owns 2,982 shares of the aerospace company’s stock worth $463,000 after buying an additional 443 shares during the last quarter. Tocqueville Asset Management L.P. increased its position in shares of General Dynamics Corporation by 8.3% in the third quarter. Tocqueville Asset Management L.P. now owns 22,448 shares of the aerospace company’s stock worth $3,483,000 after buying an additional 1,725 shares during the last quarter. NEXT Financial Group Inc increased its position in shares of General Dynamics Corporation by 60.5% in the third quarter. NEXT Financial Group Inc now owns 3,761 shares of the aerospace company’s stock worth $584,000 after buying an additional 1,418 shares during the last quarter. Boys Arnold & Co. Inc. increased its position in shares of General Dynamics Corporation by 1.5% in the third quarter. Boys Arnold & Co. Inc. now owns 15,547 shares of the aerospace company’s stock worth $2,412,000 after buying an additional 225 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of General Dynamics Corporation by 0.3% in the third quarter. Arizona State Retirement System now owns 70,696 shares of the aerospace company’s stock worth $10,969,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 87.21% of the company’s stock.

About General Dynamics Corporation

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.

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