JPMorgan Chase Begins Coverage on General Dynamics (GD)

JPMorgan Chase initiated coverage on shares of General Dynamics (NYSE:GD) in a research report released on Wednesday morning. The brokerage issued an underweight rating on the aerospace company’s stock.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada lifted their price objective on shares of General Dynamics to $258.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Bank of America lifted their price objective on shares of General Dynamics from $245.00 to $260.00 and gave the stock a buy rating in a report on Thursday, January 25th. Argus raised shares of General Dynamics to a buy rating and boosted their price target for the stock from $230.00 to $250.00 in a report on Tuesday, January 30th. Zacks Investment Research raised shares of General Dynamics from a hold rating to a buy rating and set a $252.00 price target on the stock in a report on Friday, February 2nd. Finally, Jefferies Group boosted their price target on shares of General Dynamics to $247.00 and gave the stock a buy rating in a report on Thursday, January 25th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $239.46.

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GD opened at $215.74 on Wednesday. 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 $65,687.65, a price-to-earnings ratio of 21.68, a PEG ratio of 2.33 and a beta of 0.83. General Dynamics has a 1 year low of $185.64 and a 1 year high of $230.00.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.37 by $0.13. The firm had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.40 billion. General Dynamics had a net margin of 9.40% and a return on equity of 27.22%. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.89 EPS. analysts expect that General Dynamics will post 11.14 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Friday, April 13th will be paid a $0.93 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $0.84. This represents a $3.72 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Thursday, April 12th. General Dynamics’s payout ratio is currently 33.77%.

In related 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 SEC, which is available through this link. Also, insider S. Daniel Johnson sold 3,933 shares of the business’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $228.79, for a total value of $899,831.07. Following the completion of the sale, the insider now owns 66,363 shares in the company, valued at $15,183,190.77. The disclosure for this sale can be found here. Insiders sold a total of 30,357 shares of company stock worth $6,715,463 over the last 90 days. 6.70% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in GD. Ontario Teachers Pension Plan Board increased its position in shares of General Dynamics by 3.1% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 51,028 shares of the aerospace company’s stock valued at $10,382,000 after buying an additional 1,536 shares during the period. JT Stratford LLC increased its position in shares of General Dynamics by 3.1% during the fourth quarter. JT Stratford LLC now owns 14,214 shares of the aerospace company’s stock valued at $2,892,000 after buying an additional 421 shares during the period. IFG Advisory LLC bought a new stake in shares of General Dynamics during the fourth quarter valued at about $543,000. Country Club Trust Company n.a. bought a new stake in shares of General Dynamics during the fourth quarter valued at about $448,000. Finally, Rothschild Investment Corp IL increased its position in shares of General Dynamics by 11.3% during the fourth quarter. Rothschild Investment Corp IL now owns 37,975 shares of the aerospace company’s stock valued at $7,726,000 after buying an additional 3,849 shares during the period. Institutional investors and hedge funds own 86.09% of the company’s stock.

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About General Dynamics

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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