Citigroup Inc. restated their neutral rating on shares of General Dynamics Corporation (NYSE:GD) in a research report sent to investors on Monday morning. The firm currently has a $215.00 target price on the aerospace company’s stock, up from their prior target price of $210.00.
A number of other research analysts have also commented on GD. UBS AG restated a buy rating and set a $225.00 price target (up from $215.00) on shares of General Dynamics Corporation in a research report on Monday, June 12th. BidaskClub lowered shares of General Dynamics Corporation from a strong-buy rating to a buy rating in a research report on Tuesday, June 27th. Jefferies Group LLC restated a buy rating and set a $220.00 price target on shares of General Dynamics Corporation in a research report on Friday, July 7th. Berenberg Bank initiated coverage on shares of General Dynamics Corporation in a research report on Wednesday, July 12th. They set a buy rating and a $230.00 price target for the company. Finally, Zacks Investment Research lowered shares of General Dynamics Corporation from a buy rating to a hold rating in a research report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. General Dynamics Corporation presently has a consensus rating of Buy and an average target price of $209.45.
Shares of General Dynamics Corporation (NYSE:GD) opened at 213.72 on Monday. General Dynamics Corporation has a 1-year low of $148.76 and a 1-year high of $214.11. The firm’s 50-day moving average price is $204.00 and its 200 day moving average price is $198.66. The company has a market capitalization of $64.07 billion, a PE ratio of 21.11 and a beta of 0.72.
General Dynamics Corporation (NYSE:GD) last released its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The firm had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.30 EPS. Equities analysts predict that General Dynamics Corporation will post $9.81 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.57%. The ex-dividend date is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio is presently 34.57%.
Institutional investors have recently bought and sold shares of the business. Teachers Advisors LLC lifted its stake in General Dynamics Corporation by 92.8% in the first quarter. Teachers Advisors LLC now owns 578,526 shares of the aerospace company’s stock worth $108,300,000 after purchasing an additional 278,394 shares during the last quarter. HCR Wealth Advisors lifted its stake in General Dynamics Corporation by 3.3% in the first quarter. HCR Wealth Advisors now owns 1,228 shares of the aerospace company’s stock worth $230,000 after purchasing an additional 39 shares during the last quarter. Burney Co. lifted its stake in General Dynamics Corporation by 5.8% in the first quarter. Burney Co. now owns 25,410 shares of the aerospace company’s stock worth $4,757,000 after purchasing an additional 1,404 shares during the last quarter. Boston Advisors LLC lifted its stake in General Dynamics Corporation by 13.4% in the second quarter. Boston Advisors LLC now owns 6,760 shares of the aerospace company’s stock worth $1,339,000 after purchasing an additional 800 shares during the last quarter. Finally, Morgan Stanley lifted its stake in General Dynamics Corporation by 12.2% in the first quarter. Morgan Stanley now owns 1,139,288 shares of the aerospace company’s stock worth $213,274,000 after purchasing an additional 124,077 shares during the last quarter. 86.17% of the stock is owned by institutional investors and hedge funds.
About General Dynamics Corporation
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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