General Dynamics (GD) Given Buy Rating at Royal Bank of Canada

General Dynamics (NYSE:GD)‘s stock had its “buy” rating reiterated by stock analysts at Royal Bank of Canada in a note issued to investors on Friday. They presently have a $263.00 price objective on the aerospace company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 18.89% from the company’s current price.

Several other research analysts also recently weighed in on the company. JPMorgan Chase began coverage on General Dynamics in a research note on Wednesday. They set an “underweight” rating on the stock. Barclays began coverage on General Dynamics in a research note on Thursday, March 29th. They set an “overweight” rating and a $282.00 target price on the stock. Zacks Investment Research downgraded General Dynamics from a “buy” rating to a “hold” rating in a research note on Monday, March 12th. ValuEngine upgraded General Dynamics from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Cowen restated an “outperform” rating and set a $253.00 target price (up from $230.00) on shares of General Dynamics in a research note on Monday, February 26th. Three analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $239.46.

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Shares of GD stock opened at $221.22 on Friday. General Dynamics has a 1-year low of $185.64 and a 1-year high of $230.00. The company has a current ratio of 1.40, a quick ratio of 0.99 and a debt-to-equity ratio of 0.35. The firm has a market cap of $64,891.87, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 2.31 and a beta of 0.83.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.37 by $0.13. General Dynamics had a return on equity of 27.22% and a net margin of 9.40%. The firm had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.40 billion. During the same period in the previous year, the business earned $1.89 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. equities research analysts forecast that General Dynamics will post 11.11 earnings per share for the current fiscal year.

In other news, Director John M. Keane sold 1,800 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $216.43, for a total value of $389,574.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gary L. Whited sold 5,977 shares of the business’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $224.52, for a total value of $1,341,956.04. The disclosure for this sale can be found here. In the last three months, insiders sold 30,357 shares of company stock valued at $6,715,463. Insiders own 6.70% of the company’s stock.

Several hedge funds have recently modified their holdings of GD. Synovus Financial Corp raised its holdings in General Dynamics by 23.1% in the 3rd quarter. Synovus Financial Corp now owns 2,472 shares of the aerospace company’s stock worth $508,000 after purchasing an additional 464 shares during the period. Royce & Associates LP raised its holdings in General Dynamics by 1.0% in the 3rd quarter. Royce & Associates LP now owns 24,750 shares of the aerospace company’s stock worth $5,088,000 after purchasing an additional 250 shares during the period. AMP Capital Investors Ltd raised its holdings in General Dynamics by 17.3% in the 3rd quarter. AMP Capital Investors Ltd now owns 17,630 shares of the aerospace company’s stock worth $3,624,000 after purchasing an additional 2,596 shares during the period. Segall Bryant & Hamill LLC raised its holdings in General Dynamics by 14.8% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 4,553 shares of the aerospace company’s stock worth $936,000 after purchasing an additional 588 shares during the period. Finally, Alyeska Investment Group L.P. raised its holdings in General Dynamics by 82.6% in the 3rd quarter. Alyeska Investment Group L.P. now owns 697,511 shares of the aerospace company’s stock worth $143,394,000 after purchasing an additional 315,512 shares during the period. 86.09% of the stock is owned by institutional investors and hedge funds.

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General Dynamics Company Profile

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.

Analyst Recommendations for General Dynamics (NYSE:GD)

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