Research Analysts’ Weekly Ratings Updates for General Dynamics (GD)

Posted by Ethan Ryder on May 2nd, 2024

A number of firms have modified their ratings and price targets on shares of General Dynamics (NYSE: GD) recently:

4/29/2024 – General Dynamics had its price target raised by analysts at Argus from $290.00 to $310.00. They now have a “buy” rating on the stock.
4/29/2024 – General Dynamics was upgraded by analysts at Jefferies Financial Group Inc. from a “hold” rating to a “buy” rating. They now have a $335.00 price target on the stock, up previously from $305.00.
4/25/2024 – General Dynamics was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
4/25/2024 – General Dynamics had its price target raised by analysts at JPMorgan Chase & Co. from $280.00 to $298.00. They now have an “overweight” rating on the stock.
4/25/2024 – General Dynamics had its price target lowered by analysts at Royal Bank of Canada from $325.00 to $320.00. They now have an “outperform” rating on the stock.
4/25/2024 – General Dynamics had its price target raised by analysts at Citigroup Inc. from $300.00 to $320.00. They now have a “buy” rating on the stock.
4/16/2024 – General Dynamics had its price target raised by analysts at The Goldman Sachs Group, Inc. from $253.00 to $284.00. They now have a “neutral” rating on the stock.
4/15/2024 – General Dynamics had its price target raised by analysts at Barclays PLC from $285.00 to $310.00. They now have an “overweight” rating on the stock.
4/12/2024 – General Dynamics had its price target raised by analysts at Susquehanna from $301.00 to $333.00. They now have a “positive” rating on the stock.
4/4/2024 – General Dynamics had its price target raised by analysts at Wells Fargo & Company from $291.00 to $322.00. They now have an “overweight” rating on the stock.
4/2/2024 – General Dynamics had its price target raised by analysts at Royal Bank of Canada from $300.00 to $325.00. They now have an “outperform” rating on the stock.

General Dynamics Trading Down 0.2 %

NYSE GD opened at $286.53 on Thursday. General Dynamics Co. has a 12 month low of $202.35 and a 12 month high of $296.50. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $78.61 billion, a P/E ratio of 23.37, a PEG ratio of 1.79 and a beta of 0.66. The business has a fifty day simple moving average of $281.88 and a 200 day simple moving average of $262.88.

General Dynamics (NYSE:GD – Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The company had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. General Dynamics’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $2.64 earnings per share. On average, analysts predict that General Dynamics Co. will post 14.55 EPS for the current fiscal year.

General Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be issued a $1.42 dividend. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, April 11th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insider Activity

In other General Dynamics news, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the transaction, the chief executive officer now owns 768,977 shares of the company’s stock, valued at approximately $218,773,956.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the sale, the vice president now owns 103,345 shares in the company, valued at approximately $29,816,065.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Phebe N. Novakovic sold 49,850 shares of General Dynamics stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the sale, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The disclosure for this sale can be found here. 1.52% of the stock is owned by company insiders.

Institutional Trading of General Dynamics

Hedge funds and other institutional investors have recently bought and sold shares of the company. MeadowBrook Investment Advisors LLC purchased a new position in shares of General Dynamics in the fourth quarter worth about $25,000. Richardson Financial Services Inc. purchased a new stake in shares of General Dynamics during the fourth quarter valued at approximately $25,000. Redmont Wealth Advisors LLC purchased a new position in shares of General Dynamics in the first quarter worth $25,000. Briaud Financial Planning Inc bought a new stake in General Dynamics during the 3rd quarter valued at $27,000. Finally, Financial Synergies Wealth Advisors Inc. purchased a new stake in General Dynamics during the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

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.