General Dynamics Corp. (NYSE:GD) was upgraded by equities researchers at Vetr from a “hold” rating to a “strong-buy” rating in a report issued on Monday. The brokerage presently has a $169.96 target price on the stock. Vetr‘s price objective would indicate a potential upside of 12.95% from the company’s current price.
Several other research analysts have also recently issued reports on the stock. Jefferies Group restated a “buy” rating on shares of General Dynamics Corp. in a report on Wednesday, August 3rd. Argus raised their target price on shares of General Dynamics Corp. from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of General Dynamics Corp. from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a report on Monday, July 18th. Citigroup Inc. raised their target price on shares of General Dynamics Corp. from $162.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Finally, Deutsche Bank AG restated a “hold” rating on shares of General Dynamics Corp. in a report on Friday, September 23rd. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. General Dynamics Corp. currently has an average rating of “Buy” and a consensus price target of $159.66.
General Dynamics Corp. (NYSE:GD) traded down 0.57% on Monday, reaching $150.48. 971,617 shares of the company’s stock traded hands. General Dynamics Corp. has a 12 month low of $121.61 and a 12 month high of $156.97. The firm’s 50 day moving average price is $152.73 and its 200 day moving average price is $144.86. The company has a market cap of $45.82 billion, a PE ratio of 16.00 and a beta of 0.76.
General Dynamics Corp. (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same period last year, the business earned $2.27 earnings per share. The business’s quarterly revenue was down 2.8% on a year-over-year basis. On average, equities analysts expect that General Dynamics Corp. will post $9.73 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Wednesday, October 5th. General Dynamics Corp.’s dividend payout ratio is currently 32.27%.
In other General Dynamics Corp. news, VP Gregory S. Gallopoulos sold 39,000 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $146.58, for a total transaction of $5,716,620.00. Following the completion of the transaction, the vice president now owns 153,848 shares of the company’s stock, valued at $22,551,039.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Patrick Casey sold 57,490 shares of the firm’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $146.96, for a total value of $8,448,730.40. Following the transaction, the insider now directly owns 165,118 shares of the company’s stock, valued at approximately $24,265,741.28. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Central Bank & Trust Co. raised its position in General Dynamics Corp. by 6.7% in the third quarter. Central Bank & Trust Co. now owns 651 shares of the company’s stock valued at $101,000 after buying an additional 41 shares in the last quarter. WFG Advisors LP raised 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 in the last quarter. Sun Life Financial INC bought a new position in General Dynamics Corp. during the first quarter valued at about $106,147,000. Signaturefd LLC raised 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 in the last quarter. Finally, Compagnie Lombard Odier SCmA raised 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 in the last quarter. 87.68% of the stock is owned by institutional investors and hedge funds.
About General Dynamics Corp.
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.
To view Vetr’s full report, visit Vetr’s official website.
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