General Dynamics (NYSE:GD) Price Target Raised to $300.00

General Dynamics (NYSE:GD) had its price target increased by TD Cowen from $290.00 to $300.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the aerospace company’s stock.

A number of other analysts have also recently weighed in on the company. TD Securities raised their price objective on General Dynamics from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Citigroup lowered their price target on General Dynamics from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company lowered their price target on General Dynamics from $261.00 to $236.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Susquehanna lifted their price objective on General Dynamics from $300.00 to $315.00 and gave the company a “positive” rating in a research note on Wednesday, April 2nd. Finally, Morgan Stanley reduced their price objective on General Dynamics from $305.00 to $300.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $290.24.

General Dynamics Stock Down 0.2%

Shares of NYSE:GD opened at $290.83 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33. The stock has a market cap of $78.06 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 1.96 and a beta of 0.46. General Dynamics has a 52-week low of $239.20 and a 52-week high of $316.90. The business’s 50 day moving average is $276.55 and its 200 day moving average is $267.05.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, topping analysts’ consensus estimates of $3.43 by $0.23. The firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.92 billion. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.88 EPS. Sell-side analysts predict that General Dynamics will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Thursday, July 3rd. General Dynamics’s dividend payout ratio is presently 41.61%.

Insider Activity at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 178,821 shares of the business’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $283.13, for a total value of $50,629,589.73. Following the sale, the chief executive officer now owns 769,607 shares of the company’s stock, valued at $217,898,829.91. The trade was a 18.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is currently owned by insiders.

Institutional Trading of General Dynamics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of General Dynamics during the first quarter worth $2,488,000. Bontempo Ohly Capital Mgmt LLC increased its position in shares of General Dynamics by 5.4% during the first quarter. Bontempo Ohly Capital Mgmt LLC now owns 16,381 shares of the aerospace company’s stock worth $4,465,000 after acquiring an additional 838 shares during the period. Nova Wealth Management Inc. purchased a new stake in shares of General Dynamics during the first quarter worth $33,000. Strs Ohio purchased a new stake in shares of General Dynamics during the first quarter worth $16,651,000. Finally, GK Wealth Management LLC purchased a new stake in shares of General Dynamics during the first quarter worth $205,000. Hedge funds and other 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.