General Dynamics (NYSE:GD) Price Target Raised to $310.00

General Dynamics (NYSE:GD) had its target price hoisted by Argus from $290.00 to $310.00 in a research note published on Monday morning, Benzinga reports. The firm currently has a buy rating on the aerospace company’s stock.

Several other equities analysts have also issued reports on GD. Alembic Global Advisors lowered 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. StockNews.com upgraded General Dynamics from a buy rating to a strong-buy rating in a research note on Thursday, April 25th. Jefferies Financial Group upgraded General Dynamics from a hold rating to a buy rating and lifted their target price for the stock from $305.00 to $335.00 in a research note on Monday. Wells Fargo & Company increased their price target on shares of General Dynamics from $291.00 to $322.00 and gave the company an overweight rating in a research report on Thursday, April 4th. Finally, Royal Bank of Canada lowered their price objective on shares of General Dynamics from $325.00 to $320.00 and set an outperform rating on the stock in a research report on Thursday, April 25th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, General Dynamics has an average rating of Moderate Buy and an average target price of $297.06.

General Dynamics Trading Down 0.2 %

Shares of General Dynamics stock opened at $286.53 on Monday. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $281.88 and a 200 day simple moving average of $262.88. General Dynamics has a 12-month low of $202.35 and a 12-month high of $296.50. The company has a market capitalization of $78.61 billion, a P/E ratio of 23.37, a price-to-earnings-growth ratio of 1.79 and a beta of 0.68.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The firm had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter in the prior year, the company earned $2.64 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, sell-side analysts anticipate that General Dynamics will post 14.55 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be paid a $1.42 dividend. The ex-dividend date is Thursday, April 11th. This represents a $5.68 annualized dividend and a yield of 1.98%. This is an increase from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

Insider Activity

In other news, VP Gregory S. Gallopoulos sold 13,567 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $288.51, for a total value of $3,914,215.17. Following the completion of the transaction, the vice president now directly owns 103,345 shares in the company, valued at $29,816,065.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other General Dynamics news, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $288.51, for a total value of $3,914,215.17. Following the sale, the vice president now directly owns 103,345 shares in the company, valued at approximately $29,816,065.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Phebe N. Novakovic sold 49,850 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the transaction, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Institutional Trading of General Dynamics

Large investors have recently modified their holdings of the business. Exchange Traded Concepts LLC lifted its position in General Dynamics by 1,406.1% during the third quarter. Exchange Traded Concepts LLC now owns 2,696 shares of the aerospace company’s stock valued at $596,000 after purchasing an additional 2,517 shares during the last quarter. Brookstone Capital Management raised its position in shares of General Dynamics by 139.1% during the 3rd quarter. Brookstone Capital Management now owns 19,771 shares of the aerospace company’s stock valued at $4,704,000 after buying an additional 11,501 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of General Dynamics by 2.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 156,141 shares of the aerospace company’s stock worth $34,503,000 after acquiring an additional 3,367 shares during the last quarter. Toews Corp ADV purchased a new position in General Dynamics in the third quarter worth $773,000. Finally, Accurate Wealth Management LLC increased its stake in General Dynamics by 9.0% in the third quarter. Accurate Wealth Management LLC now owns 2,825 shares of the aerospace company’s stock valued at $682,000 after acquiring an additional 234 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

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.