Brokerages Set General Dynamics Corporation (NYSE:GD) PT at $391.15

Shares of General Dynamics Corporation (NYSE:GD) have received an average recommendation of “Moderate Buy” from the nineteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $393.3158.

GD has been the subject of several research reports. Jefferies Financial Group raised their price objective on General Dynamics from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Bank of America upped their target price on General Dynamics from $400.00 to $415.00 and gave the company a “buy” rating in a report on Monday, July 6th. Citigroup decreased their price target on General Dynamics from $380.00 to $364.00 and set a “neutral” rating for the company in a research report on Monday, May 18th. Wells Fargo & Company started coverage on General Dynamics in a research note on Wednesday, April 1st. They issued an “overweight” rating and a $400.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Dynamics from $387.00 to $377.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th.

General Dynamics Stock Up 1.2%

Shares of General Dynamics stock opened at $393.85 on Friday. General Dynamics has a twelve month low of $306.03 and a twelve month high of $395.43. The stock has a market capitalization of $106.51 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 2.34 and a beta of 0.34. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The business’s 50 day simple moving average is $358.18 and its 200-day simple moving average is $352.28.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The business had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $12.70 billion. During the same period in the previous year, the business earned $3.66 earnings per share. The company’s revenue was up 10.3% on a year-over-year basis. Equities research analysts forecast that General Dynamics will post 16.66 earnings per share for the current year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be issued a $1.59 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.6%. General Dynamics’s dividend payout ratio is currently 40.03%.

Insider Activity at General Dynamics

In related news, EVP Mark Lagrand Burns sold 36,480 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the transaction, the executive vice president owned 38,975 shares of the company’s stock, valued at approximately $13,457,677.75. This trade represents a 48.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Malcolm sold 5,480 shares of General Dynamics stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the sale, the director directly owned 10,643 shares of the company’s stock, valued at approximately $3,884,695. The trade was a 33.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 78,190 shares of company stock worth $27,041,022. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GD. Whipplewood Advisors LLC lifted its position in General Dynamics by 1,725.0% in the first quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 69 shares during the period. Steph & Co. increased its holdings in General Dynamics by 65.2% in the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after buying an additional 30 shares during the period. Scarborough Advisors LLC acquired a new position in shares of General Dynamics in the 1st quarter valued at $29,000. Wilkerson Advisory Group LLC raised its stake in shares of General Dynamics by 79.6% in the 1st quarter. Wilkerson Advisory Group LLC now owns 88 shares of the aerospace company’s stock valued at $30,000 after buying an additional 39 shares in the last quarter. Finally, Center for Financial Planning Inc. lifted its holdings in shares of General Dynamics by 220.7% during the 4th quarter. Center for Financial Planning Inc. now owns 93 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 64 shares during the period. Institutional investors own 86.14% of the company’s stock.

More General Dynamics News

Here are the key news stories impacting General Dynamics this week:

• Positive Sentiment: Analysts expect General Dynamics to report approximately $3.97 in earnings per share and $13.54 billion in revenue for the second quarter. Expectations for a potential earnings beat are supporting investor sentiment ahead of the release. General Dynamics Q2 earnings expectations
• Positive Sentiment: The aerospace and defense sector continues to benefit from strong defense demand and improved production activity. General Dynamics is included among companies viewed as capable of meeting or exceeding second-quarter targets, which could reinforce confidence in its backlog and long-term growth prospects. Aerospace and defense earnings targets
• Neutral Sentiment: General Dynamics’ dividend remains an attraction for income-oriented investors, with a reported yield of roughly 1.63%. However, the immediate focus is likely to remain on quarterly earnings, guidance and cash flow rather than the dividend. General Dynamics dividend and earnings preview
• Negative Sentiment: Investors remain concerned about rising costs, supply-chain constraints and execution risks. Any margin pressure, production delays or cautious guidance could offset strong demand and trigger profit-taking after the stock’s recent advance. Aerospace and defense earnings risks

About General Dynamics

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.