Several other equities analysts also recently issued reports on the stock. Zacks Investment Research raised shares of General Dynamics Corp. from a hold rating to a buy rating and set a $159.00 price target for the company in a report on Monday, July 18th. Citigroup Inc. boosted their price target on shares of General Dynamics Corp. from $162.00 to $185.00 and gave the company a buy rating in a report on Tuesday, September 6th. Jefferies Group reissued a buy rating on shares of General Dynamics Corp. in a report on Sunday, July 3rd. Sanford C. Bernstein raised shares of General Dynamics Corp. from a market perform rating to an outperform rating and set a $180.00 price target for the company in a report on Wednesday, August 10th. They noted that the move was a valuation call. Finally, Argus lifted their price objective on shares of General Dynamics Corp. from $160.00 to $165.00 and gave the company a buy rating in a research note on Tuesday, August 2nd. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. General Dynamics Corp. currently has a consensus rating of Buy and an average price target of $157.99.
Shares of General Dynamics Corp. (NYSE:GD) opened at 156.01 on Friday. The firm has a market capitalization of $47.50 billion, a PE ratio of 16.59 and a beta of 0.84. General Dynamics Corp. has a 1-year low of $121.61 and a 1-year high of $156.21. The firm’s 50 day moving average is $152.55 and its 200 day moving average is $143.03.
General Dynamics Corp. (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.13. General Dynamics Corp. had a net margin of 9.53% and a return on equity of 27.74%. The company earned $7.66 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter in the previous year, the company posted $2.27 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts anticipate that General Dynamics Corp. will post $9.73 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $3.04 annualized dividend and a yield of 1.95%. General Dynamics Corp.’s dividend payout ratio (DPR) is presently 32.27%.
In other General Dynamics Corp. news, insider John Patrick Casey sold 57,490 shares of General Dynamics Corp. stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $146.96, for a total transaction of $8,448,730.40. Following the transaction, the insider now owns 165,118 shares of the company’s stock, valued at approximately $24,265,741.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Kimberly A. Kuryea sold 4,117 shares of General Dynamics Corp. stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $154.56, for a total value of $636,323.52. Following the transaction, the vice president now directly owns 36,412 shares in the company, valued at approximately $5,627,838.72. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. WFG Advisors LP boosted its position in General Dynamics Corp. by 0.3% in the second quarter. WFG Advisors LP now owns 753 shares of the company’s stock valued at $105,000 after buying an additional 2 shares during the period. Sun Life Financial INC acquired a new position in General Dynamics Corp. during the first quarter valued at $106,147,000. Signaturefd LLC boosted its position in General Dynamics Corp. by 5.7% in the second quarter. Signaturefd LLC now owns 818 shares of the company’s stock valued at $114,000 after buying an additional 44 shares during the period. Compagnie Lombard Odier SCmA boosted its position in General Dynamics Corp. by 820.0% in the second quarter. Compagnie Lombard Odier SCmA now owns 920 shares of the company’s stock valued at $128,000 after buying an additional 820 shares during the period. Finally, Bellwether Investment Group LLC acquired a new position in General Dynamics Corp. during the second quarter valued at $136,000. 87.68% of the stock is currently owned by institutional investors.
General Dynamics Corp. Company Profile
General Dynamics Corporation is an aerospace and defense company that offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions and information technology (IT) services, and shipbuilding.
Receive News & Ratings for General Dynamics Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics Corp. and related companies with MarketBeat.com's FREE daily email newsletter.