Other equities analysts have also issued reports about the stock. Jefferies Group restated a buy rating on shares of General Dynamics Corp. in a research 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 research report on Tuesday, August 2nd. Zacks Investment Research raised 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. increased their price target on General Dynamics Corp. from $162.00 to $185.00 and gave the stock a buy rating in a report on Tuesday, September 6th. Finally, Robert W. Baird started coverage on General Dynamics Corp. in a report on Thursday, October 6th. They set an outperform rating and a $181.00 price target for the company. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $159.66.
General Dynamics Corp. (NYSE:GD) traded up 0.34% during mid-day trading on Tuesday, reaching $152.39. 137,189 shares of the company were exchanged. General Dynamics Corp. has a 1-year low of $121.61 and a 1-year high of $156.97. The stock has a 50-day moving average of $152.70 and a 200 day moving average of $145.00. The firm has a market capitalization of $46.40 billion, a P/E ratio of 16.21 and a beta of 0.76.
General Dynamics Corp. (NYSE:GD) last announced its earnings results on Wednesday, July 27th. The company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.13. The business had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.88 billion. General Dynamics Corp. had a net margin of 9.53% and a return on equity of 27.74%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the firm posted $2.27 earnings per share. Equities research analysts forecast that General Dynamics Corp. will post $9.73 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, October 5th. General Dynamics Corp.’s dividend payout ratio (DPR) is presently 32.27%.
In related news, insider Robert W. Helm sold 87,790 shares of General Dynamics Corp. stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $150.91, for a total transaction of $13,248,388.90. Following the completion of the sale, the insider now owns 157,176 shares in the company, valued at approximately $23,719,430.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Gregory S. Gallopoulos sold 39,000 shares of General Dynamics Corp. stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $146.58, for a total value of $5,716,620.00. Following the sale, the vice president now owns 153,848 shares of the company’s stock, valued at approximately $22,551,039.84. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of GD. FMR LLC boosted its stake in General Dynamics Corp. by 19.1% in the second quarter. FMR LLC now owns 7,944,339 shares of the company’s stock worth $1,106,170,000 after buying an additional 1,274,336 shares in the last quarter. Boston Partners boosted its stake in General Dynamics Corp. by 34.3% in the second quarter. Boston Partners now owns 4,303,966 shares of the company’s stock worth $599,284,000 after buying an additional 1,099,224 shares in the last quarter. BlackRock Fund Advisors boosted its stake in General Dynamics Corp. by 2.9% in the second quarter. BlackRock Fund Advisors now owns 3,597,102 shares of the company’s stock worth $500,860,000 after buying an additional 100,932 shares in the last quarter. Franklin Resources Inc. boosted its stake in General Dynamics Corp. by 2.6% in the second quarter. Franklin Resources Inc. now owns 3,551,185 shares of the company’s stock worth $494,467,000 after buying an additional 89,583 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in General Dynamics Corp. by 4.9% in the first quarter. Wellington Management Group LLP now owns 3,166,973 shares of the company’s stock worth $416,045,000 after buying an additional 147,072 shares in the last quarter. Hedge funds and other institutional investors own 87.68% of the company’s stock.
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.
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