General Dynamics (NYSE:GD) Price Target Lowered to $377.00 at Deutsche Bank Aktiengesellschaft

General Dynamics (NYSE:GD) had its price objective reduced by Deutsche Bank Aktiengesellschaft from $387.00 to $377.00 in a report published on Wednesday morning,MarketScreener reports. They currently have a hold rating on the aerospace company’s stock.

A number of other analysts have also recently commented on GD. Argus upped their price target on General Dynamics from $380.00 to $395.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of General Dynamics in a research report on Tuesday, April 21st. JPMorgan Chase & Co. increased their target price on General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. BNP Paribas Exane cut their target price on General Dynamics from $430.00 to $390.00 and set an “outperform” rating for the company in a research report on Thursday, April 30th. Finally, UBS Group cut their target price on General Dynamics from $385.00 to $371.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $388.20.

General Dynamics Trading Down 0.7%

General Dynamics stock traded down $2.50 during trading hours on Wednesday, reaching $344.77. The company had a trading volume of 126,174 shares, compared to its average volume of 1,431,620. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.38 and a quick ratio of 0.90. The company has a 50-day moving average price of $345.52 and a 200 day moving average price of $346.57. The firm has a market cap of $93.24 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 2.29 and a beta of 0.34. General Dynamics has a 12-month low of $267.39 and a 12-month high of $369.70.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.67 by $0.43. The company had revenue of $13.48 billion during the quarter, compared to analysts’ expectations of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.General Dynamics’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.66 earnings per share. Equities analysts forecast that General Dynamics will post 16.56 earnings per share for the current year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 10th will be issued a $1.59 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Friday, April 10th. This represents a $6.36 annualized dividend and a dividend yield of 1.8%. General Dynamics’s payout ratio is presently 40.03%.

Insider Buying and Selling

In other news, CEO Phebe N. Novakovic sold 32,918 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $354.09, for a total value of $11,655,934.62. Following the completion of the sale, the chief executive officer directly owned 766,457 shares in the company, valued at $271,394,759.13. This represents a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Marguerite Amy Gilliland sold 3,819 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $353.50, for a total value of $1,350,016.50. Following the completion of the transaction, the executive vice president owned 44,767 shares in the company, valued at $15,825,134.50. This represents a 7.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 51,260 shares of company stock valued at $18,133,971 over the last ninety days. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On General Dynamics

Several large investors have recently bought and sold shares of GD. Joule Financial LLC grew its holdings in shares of General Dynamics by 4.3% during the fourth quarter. Joule Financial LLC now owns 705 shares of the aerospace company’s stock worth $237,000 after buying an additional 29 shares during the last quarter. Brown Miller Wealth Management LLC lifted its position in shares of General Dynamics by 0.3% during the 4th quarter. Brown Miller Wealth Management LLC now owns 8,889 shares of the aerospace company’s stock valued at $2,993,000 after acquiring an additional 29 shares during the period. First Financial Bankshares Inc lifted its position in shares of General Dynamics by 2.6% during the 3rd quarter. First Financial Bankshares Inc now owns 1,196 shares of the aerospace company’s stock valued at $408,000 after acquiring an additional 30 shares during the period. Steph & Co. lifted its position in shares of General Dynamics by 65.2% during the 4th quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 30 shares during the period. Finally, Revolve Wealth Partners LLC lifted its position in shares of General Dynamics by 3.3% during the 4th quarter. Revolve Wealth Partners LLC now owns 978 shares of the aerospace company’s stock valued at $329,000 after acquiring an additional 31 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

About General Dynamics

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.