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

General Dynamics (NYSE:GD) had its price target lifted by stock analysts at Argus from $290.00 to $310.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Argus’ price target indicates a potential upside of 7.11% from the stock’s previous close.

GD has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their price objective on General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday. Wells Fargo & Company boosted their price objective on General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. UBS Group boosted their price objective on General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a research note on Monday, January 29th. Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and upped their price target for the company from $305.00 to $335.00 in a research note on Monday. Finally, The Goldman Sachs Group upped their price target on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $297.06.

General Dynamics Stock Performance

Shares of General Dynamics stock traded up $5.01 on Monday, reaching $289.42. 291,986 shares of the stock were exchanged, compared to its average volume of 1,101,809. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. General Dynamics has a twelve month low of $202.35 and a twelve month high of $296.50. The firm has a market capitalization of $79.41 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 1.77 and a beta of 0.68. The business has a 50 day moving average price of $280.86 and a two-hundred day moving average price of $262.05.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The business had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.64 earnings per share. Analysts anticipate that General Dynamics will post 14.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On General Dynamics

A number of large investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in General Dynamics during the 4th quarter worth $728,284,000. Wellington Management Group LLP raised its stake in shares of General Dynamics by 12.0% in the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock valued at $3,615,185,000 after purchasing an additional 1,755,276 shares during the period. International Assets Investment Management LLC raised its stake in shares of General Dynamics by 10,763.2% in the 4th quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock valued at $239,829,000 after purchasing an additional 915,091 shares during the period. Verity & Verity LLC bought a new position in shares of General Dynamics in the 1st quarter valued at about $179,000. Finally, 1832 Asset Management L.P. grew its holdings in shares of General Dynamics by 3,645.4% in the 4th quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock valued at $145,048,000 after acquiring an additional 543,672 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Company Profile

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.