General Dynamics (GD) Lifted to Add at FIG Partners

FIG Partners upgraded shares of General Dynamics (NYSE:GD) to an add rating in a report published on Tuesday, The Fly reports.

Other equities research analysts also recently issued reports about the company. Argus decreased their price objective on General Dynamics from $250.00 to $200.00 and set a buy rating on the stock in a research report on Friday, October 26th. Cowen restated a buy rating and set a $253.00 price objective on shares of General Dynamics in a research report on Wednesday, October 24th. Jefferies Financial Group downgraded General Dynamics from a buy rating to a hold rating and reduced their price target for the stock from $197.00 to $164.00 in a report on Tuesday. Stifel Nicolaus reduced their price target on General Dynamics from $210.00 to $200.00 and set a hold rating on the stock in a report on Friday, October 26th. Finally, Citigroup reduced their price target on General Dynamics from $210.00 to $195.00 and set a neutral rating on the stock in a report on Thursday, October 25th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $220.32.

NYSE:GD traded up $0.75 during mid-day trading on Tuesday, hitting $163.18. 759,002 shares of the company traded hands, compared to its average volume of 1,714,320. General Dynamics has a one year low of $143.87 and a one year high of $230.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.87 and a current ratio of 1.27. The firm has a market capitalization of $47.65 billion, a PE ratio of 16.40, a P/E/G ratio of 1.29 and a beta of 1.09.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, October 24th. The aerospace company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.13. The firm had revenue of $9.09 billion during the quarter, compared to analyst estimates of $9.41 billion. General Dynamics had a return on equity of 27.22% and a net margin of 9.01%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.52 earnings per share. Equities analysts forecast that General Dynamics will post 11.31 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Shareholders of record on Friday, January 18th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, January 17th. This represents a $3.72 annualized dividend and a yield of 2.28%. General Dynamics’s dividend payout ratio (DPR) is presently 37.39%.

In other news, Director Mark Malcolm bought 3,000 shares of General Dynamics stock in a transaction that occurred on Friday, October 26th. The stock was bought at an average price of $169.87 per share, for a total transaction of $509,610.00. Following the purchase, the director now directly owns 4,455 shares of the company’s stock, valued at approximately $756,770.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Patrick Casey sold 22,500 shares of General Dynamics stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $193.28, for a total value of $4,348,800.00. Following the transaction, the insider now owns 118,555 shares of the company’s stock, valued at approximately $22,914,310.40. The disclosure for this sale can be found here. 6.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Carroll Financial Associates Inc. boosted its holdings in General Dynamics by 11.9% in the 4th quarter. Carroll Financial Associates Inc. now owns 1,228 shares of the aerospace company’s stock worth $194,000 after buying an additional 131 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in General Dynamics by 5.6% in the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 4,747 shares of the aerospace company’s stock worth $746,000 after buying an additional 250 shares during the last quarter. United Capital Management of KS Inc. boosted its holdings in General Dynamics by 5.2% in the 4th quarter. United Capital Management of KS Inc. now owns 3,359 shares of the aerospace company’s stock worth $528,000 after buying an additional 166 shares during the last quarter. USS Investment Management Ltd boosted its holdings in General Dynamics by 0.6% in the 4th quarter. USS Investment Management Ltd now owns 143,200 shares of the aerospace company’s stock worth $22,511,000 after buying an additional 800 shares during the last quarter. Finally, Legacy Capital Partners Inc. boosted its holdings in General Dynamics by 0.5% in the 4th quarter. Legacy Capital Partners Inc. now owns 17,986 shares of the aerospace company’s stock worth $2,828,000 after buying an additional 95 shares during the last quarter. Institutional investors and hedge funds own 86.36% of the company’s stock.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.

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