General Dynamics (NYSE:GD) Price Target Cut to $320.00

General Dynamics (NYSE:GD) had its price target decreased by equities research analysts at Royal Bank of Canada from $325.00 to $320.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the aerospace company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 12.92% from the company’s current price.

Several other brokerages have also recently weighed in on GD. The Goldman Sachs Group upped their price target on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Alembic Global Advisors cut General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price target on the stock. in a research report on Monday, January 29th. Citigroup upped their price target on General Dynamics from $283.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. UBS Group upped their price objective on shares of General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a research report on Monday, January 29th. Finally, Susquehanna upped their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research report on Friday, April 12th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.47.

General Dynamics Stock Performance

NYSE GD traded up $2.28 during trading on Thursday, hitting $283.39. 599,940 shares of the company’s stock traded hands, compared to its average volume of 1,098,091. The stock has a market capitalization of $77.75 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 1.86 and a beta of 0.68. General Dynamics has a 12-month low of $202.35 and a 12-month high of $296.50. 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 business has a 50 day moving average of $280.26 and a 200-day moving average of $261.22.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). The business had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a net margin of 7.84% and a return on equity of 16.61%. General Dynamics’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $2.64 earnings per share. As a group, equities research analysts anticipate 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 the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the completion of the sale, the executive vice president now owns 149,205 shares of the company’s stock, valued at $39,502,023.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Mark C. Roualet sold 73,330 shares of General Dynamics stock in a transaction on 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Phebe N. Novakovic sold 32,355 shares of General Dynamics stock in a transaction on Monday, January 29th. The shares were sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the completion of the sale, the chief executive officer now owns 773,977 shares in the company, valued at approximately $204,569,860.87. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Institutional Trading of General Dynamics

A number of hedge funds have recently modified their holdings of the business. Legend Financial Advisors Inc. raised its holdings in shares of General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 36 shares in the last quarter. Diversified Trust Co raised its holdings in General Dynamics by 2.5% during the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock valued at $425,000 after buying an additional 36 shares during the period. Fulton Bank N.A. raised its holdings in General Dynamics by 1.1% during the 1st quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock valued at $932,000 after buying an additional 37 shares during the period. Copperwynd Financial LLC raised its holdings in General Dynamics by 3.7% during the 4th quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock valued at $274,000 after buying an additional 38 shares during the period. Finally, Woodward Diversified Capital LLC raised its holdings in General Dynamics by 2.3% during the 4th quarter. Woodward Diversified Capital LLC now owns 1,727 shares of the aerospace company’s stock valued at $448,000 after buying an additional 39 shares during the period. Institutional investors own 86.14% of the company’s stock.

General Dynamics Company Profile

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.