General Dynamics Co. (NYSE:GD) has been given a consensus rating of “Hold” by the twenty ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $196.22.
A number of equities analysts recently weighed in on the stock. Cowen restated a “buy” rating and issued a $202.00 price objective on shares of General Dynamics in a report on Wednesday, April 24th. JPMorgan Chase & Co. upgraded shares of General Dynamics from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $188.00 to $200.00 in a report on Thursday, April 25th. They noted that the move was a valuation call. UBS Group boosted their price objective on shares of General Dynamics from $175.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Zacks Investment Research downgraded shares of General Dynamics from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Finally, ValuEngine raised shares of General Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday, June 6th.
NYSE GD traded up $2.42 during mid-day trading on Tuesday, reaching $174.20. The stock had a trading volume of 8,854 shares, compared to its average volume of 1,140,762. General Dynamics has a 1 year low of $143.87 and a 1 year high of $207.72. The firm has a market cap of $49.47 billion, a PE ratio of 15.26, a PEG ratio of 1.64 and a beta of 1.15. The business’s fifty day moving average price is $169.68. The company has a current ratio of 1.23, a quick ratio of 0.82 and a debt-to-equity ratio of 0.94.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Wednesday, July 3rd. General Dynamics’s payout ratio is 35.73%.
In other news, EVP John Patrick Casey sold 45,470 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $172.46, for a total transaction of $7,841,756.20. Following the completion of the sale, the executive vice president now owns 148,133 shares of the company’s stock, valued at approximately $25,547,017.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 7.10% of the company’s stock.
Several hedge funds have recently modified their holdings of GD. Longview Asset Management LLC boosted its holdings in General Dynamics by 0.7% in the 1st quarter. Longview Asset Management LLC now owns 32,898,410 shares of the aerospace company’s stock worth $5,569,043,000 after buying an additional 215,179 shares during the period. Vanguard Group Inc boosted its holdings in General Dynamics by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 20,905,951 shares of the aerospace company’s stock worth $4,279,866,000 after buying an additional 357,032 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in General Dynamics by 14,601.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,581,635 shares of the aerospace company’s stock worth $61,000 after buying an additional 9,516,460 shares during the period. Geode Capital Management LLC boosted its holdings in General Dynamics by 5.8% in the 4th quarter. Geode Capital Management LLC now owns 3,511,536 shares of the aerospace company’s stock worth $551,080,000 after buying an additional 193,294 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in General Dynamics by 8.1% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,365,297 shares of the aerospace company’s stock worth $569,677,000 after buying an additional 252,900 shares during the period. 86.47% of the stock is owned by hedge funds and other institutional investors.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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