General Dynamics (NYSE:GD) had its price objective upped by Robert W. Baird from $188.00 to $218.00 in a report issued on Wednesday morning, The Fly reports. They currently have an outperform rating on the aerospace company’s stock.
Several other equities analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Global Ship Lease from a hold rating to a strong-buy rating and set a $7.75 price target for the company in a research note on Monday, June 3rd. UBS Group restated a buy rating and issued a $124.00 price target on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research note on Thursday, April 25th. Goldman Sachs Group upgraded shares of General Dynamics from a neutral rating to a buy rating and set a $204.00 price target for the company in a research note on Sunday, May 19th. JPMorgan Chase & Co. restated a hold rating and issued a $7.00 price target on shares of Deutsche Bank in a research note on Thursday, April 25th. Finally, Cowen restated an outperform rating and issued a $230.00 price target (up previously from $200.00) on shares of Norfolk Southern in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. General Dynamics presently has an average rating of Hold and an average price target of $196.00.
NYSE:GD opened at $185.84 on Wednesday. The stock has a fifty day simple moving average of $173.82. The firm has a market capitalization of $53.68 billion, a P/E ratio of 16.27, a price-to-earnings-growth ratio of 1.78 and a beta of 1.20. The company has a current ratio of 1.23, a quick ratio of 0.82 and a debt-to-equity ratio of 0.94. General Dynamics has a 52 week low of $143.87 and a 52 week high of $207.72.
General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.38 by $0.18. The business had revenue of $9.26 billion during the quarter, compared to the consensus estimate of $8.90 billion. General Dynamics had a net margin of 8.68% and a return on equity of 27.62%. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.65 earnings per share. As a group, research analysts expect that General Dynamics will post 11.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a dividend of $1.02 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $4.08 annualized dividend and a dividend yield of 2.20%. General Dynamics’s dividend payout ratio (DPR) is currently 35.73%.
In other news, EVP John Patrick Casey sold 45,470 shares of General Dynamics stock in a transaction on Monday, April 15th. The shares were sold at an average price of $172.46, for a total transaction of $7,841,756.20. Following the completion of the sale, the executive vice president now directly owns 148,133 shares of the company’s stock, valued at approximately $25,547,017.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 7.10% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in GD. Bessemer Group Inc. lifted its position in General Dynamics by 22.3% in the fourth quarter. Bessemer Group Inc. now owns 3,954 shares of the aerospace company’s stock valued at $621,000 after acquiring an additional 720 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in General Dynamics by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 791,464 shares of the aerospace company’s stock valued at $124,426,000 after acquiring an additional 24,451 shares during the last quarter. Prudential PLC lifted its position in General Dynamics by 7.6% in the fourth quarter. Prudential PLC now owns 1,495 shares of the aerospace company’s stock valued at $235,000 after acquiring an additional 106 shares during the last quarter. Gideon Capital Advisors Inc. purchased a new stake in General Dynamics in the fourth quarter valued at $216,000. Finally, Fort L.P. lifted its position in General Dynamics by 61.9% in the fourth quarter. Fort L.P. now owns 3,926 shares of the aerospace company’s stock valued at $617,000 after acquiring an additional 1,501 shares during the last quarter. 86.45% of the stock is owned by hedge funds and other institutional investors.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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