General Dynamics (NYSE:GD) Given New $298.00 Price Target at JPMorgan Chase & Co.

General Dynamics (NYSE:GD) had its target price lifted by JPMorgan Chase & Co. from $280.00 to $298.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the aerospace company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 4.72% from the stock’s previous close.

A number of other research firms have also recently issued reports on GD. Royal Bank of Canada decreased their price target on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a report on Thursday. StockNews.com cut shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 3rd. Barclays raised their target price on shares of General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. The Goldman Sachs Group raised their target price on shares of General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Finally, Alembic Global Advisors cut shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 target price for the company. in a report on Monday, January 29th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $284.38.

General Dynamics Stock Up 1.2 %

NYSE:GD traded up $3.47 during midday trading on Thursday, reaching $284.58. 797,863 shares of the stock traded hands, compared to its average volume of 1,100,381. General Dynamics has a 12-month low of $202.35 and a 12-month high of $296.50. The business has a 50-day moving average of $280.26 and a two-hundred day moving average of $261.22. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.44. The stock has a market capitalization of $78.08 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 1.86 and a beta of 0.68.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The company had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a return on equity of 16.61% and a net margin of 7.84%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.64 EPS. On average, equities analysts forecast that General Dynamics will post 14.56 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Mark C. Roualet sold 73,330 shares of General Dynamics stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $264.75, for a total value of $19,414,117.50. Following the sale, the executive vice president now owns 149,205 shares in the company, valued at $39,502,023.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Mark C. Roualet sold 73,330 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the transaction, the executive vice president now directly owns 149,205 shares in the company, valued at $39,502,023.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Phebe N. Novakovic sold 32,355 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the transaction, the chief executive officer now owns 773,977 shares in the company, valued at $204,569,860.87. The disclosure for this sale can be found here. Company insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On General Dynamics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of General Dynamics in the fourth quarter valued at approximately $728,284,000. Wellington Management Group LLP raised its position in General Dynamics by 12.0% in the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock valued at $3,615,185,000 after purchasing an additional 1,755,276 shares during the last quarter. International Assets Investment Management LLC raised its position in General Dynamics by 10,763.2% in the 4th quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock valued at $239,829,000 after purchasing an additional 915,091 shares during the last quarter. Verity & Verity LLC purchased a new stake in General Dynamics in the 1st quarter valued at $179,000. Finally, 1832 Asset Management L.P. raised its position in General Dynamics by 3,645.4% in the 4th quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock valued at $145,048,000 after purchasing an additional 543,672 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.