Sanford C. Bernstein Increases General Dynamics (NYSE:GD) Price Target to $302.00

General Dynamics (NYSE:GD) had its target price lifted by research analysts at Sanford C. Bernstein from $290.00 to $302.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the aerospace company’s stock. Sanford C. Bernstein’s price objective would indicate a potential upside of 0.79% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. UBS Group boosted their price objective on shares of General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $305.00 to $335.00 in a report on Monday, April 29th. Argus boosted their price objective on shares of General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Monday, April 29th. JPMorgan Chase & Co. boosted their price objective on shares of General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Finally, Susquehanna upped their target price on shares of General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research note on Friday, April 12th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, General Dynamics has a consensus rating of “Moderate Buy” and an average target price of $300.63.

General Dynamics Stock Performance

NYSE:GD opened at $299.62 on Thursday. 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 $82.20 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 1.70 and a beta of 0.67. The firm’s fifty day simple moving average is $289.09 and its 200 day simple moving average is $269.22. General Dynamics has a twelve month low of $202.35 and a twelve month high of $301.48.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. During the same quarter in the previous year, the firm posted $2.64 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts expect that General Dynamics will post 14.55 earnings per share for the current fiscal year.

Insider Activity at General Dynamics

In related news, Director Leon Rudy F. De sold 2,570 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $288.00, for a total transaction of $740,160.00. Following the completion of the sale, the director now owns 5,518 shares of the company’s stock, valued at approximately $1,589,184. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other General Dynamics news, Director Leon Rudy F. De sold 2,570 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $288.00, for a total value of $740,160.00. Following the completion of the transaction, the director now owns 5,518 shares in the company, valued at approximately $1,589,184. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Phebe N. Novakovic sold 49,850 shares of the company’s 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 disclosure for this sale can be found here. Insiders sold a total of 118,486 shares of company stock valued at $34,391,642 in the last quarter. Insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GD. Norges Bank acquired a new stake in shares of General Dynamics in the 4th quarter worth approximately $728,284,000. Wellington Management Group LLP lifted 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 worth $3,615,185,000 after acquiring an additional 1,755,276 shares during the period. International Assets Investment Management LLC lifted 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 worth $239,829,000 after acquiring an additional 915,091 shares during the period. Verity & Verity LLC acquired a new stake in shares of General Dynamics in the 1st quarter worth approximately $179,000. Finally, 1832 Asset Management L.P. lifted its stake in General Dynamics by 3,645.4% during the fourth quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock valued at $145,048,000 after purchasing an additional 543,672 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

About General Dynamics

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.