General Dynamics (NYSE:GD) Price Target Raised to $480.00

General Dynamics (NYSE:GD) had its price objective raised by Morgan Stanley from $465.00 to $480.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the aerospace company’s stock.

Other equities analysts have also issued reports about the stock. Citigroup raised their price objective on shares of General Dynamics from $374.00 to $400.00 and gave the company a “neutral” rating in a research report on Monday. Jefferies Financial Group reaffirmed a “buy” rating and set a $455.00 target price on shares of General Dynamics in a report on Monday. Robert W. Baird set a $430.00 target price on shares of General Dynamics in a research note on Thursday, July 30th. Bank of America raised their price target on shares of General Dynamics from $400.00 to $415.00 and gave the company a “buy” rating in a report on Monday, July 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of General Dynamics in a research report on Monday, September 28th. Eleven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $408.94.

General Dynamics Stock Down 2.2%

Shares of NYSE GD opened at $356.85 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.43 and a debt-to-equity ratio of 0.23. The company has a market cap of $96.43 billion, a P/E ratio of 21.46, a P/E/G ratio of 2.06 and a beta of 0.30. General Dynamics has a 52 week low of $306.77 and a 52 week high of $400.00. The business has a 50-day simple moving average of $350.29 and a two-hundred day simple moving average of $355.08.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Friday, October 30th. The aerospace company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.12 by $0.37. General Dynamics had a return on equity of 17.60% and a net margin of 8.24%. The firm had revenue of $14.57 billion for the quarter, compared to analysts’ expectations of $13.72 billion. During the same period in the prior year, the business posted $3.88 earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. Research analysts anticipate that General Dynamics will post 17.29 earnings per share for the current fiscal year.

Insider Activity at General Dynamics

In related news, Director Robert K. Steel sold 7,440 shares of the company’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $346.05, for a total value of $2,574,612.00. Following the transaction, the director directly owned 3,096 shares in the company, valued at approximately $1,071,370.80. This represents a 70.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On General Dynamics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Caisse de depot et placement du Quebec increased its stake in General Dynamics by 454.0% in the second quarter. Caisse de depot et placement du Quebec now owns 180,917 shares of the aerospace company’s stock valued at $64,088,000 after acquiring an additional 148,262 shares during the last quarter. Empowered Funds LLC purchased a new stake in General Dynamics during the second quarter valued at about $21,368,000. United Capital Financial Advisors LLC bought a new stake in General Dynamics during the second quarter worth about $30,781,000. Professional Advisory Services Inc. lifted its stake in General Dynamics by 4.0% during the second quarter. Professional Advisory Services Inc. now owns 67,028 shares of the aerospace company’s stock worth $23,744,000 after purchasing an additional 2,562 shares during the last quarter. Finally, FSA Advisors Inc. purchased a new position in shares of General Dynamics in the 2nd quarter worth about $1,254,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

About General Dynamics

General Dynamics Corporation (NYSE: GD) is a global aerospace and defense company that develops, manufactures and supports products and services for government and commercial customers. Its operations serve the U.S. government, allied nations and other customers worldwide, with a significant focus on national security, military modernization and mission support.

The company operates through four primary business areas. Aerospace provides Gulfstream business jets and related aircraft services through Gulfstream Aerospace, as well as aircraft management, charter, maintenance and completions services through Jet Aviation.