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.
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.
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.
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