Stifel Nicolaus reiterated their hold rating on shares of General Dynamics (NYSE:GD) in a research note issued to investors on Tuesday morning. They currently have a $220.00 price objective on the aerospace company’s stock.
GD has been the subject of several other research reports. Cowen restated a buy rating and set a $230.00 target price on shares of General Dynamics in a research report on Thursday, October 26th. ValuEngine lowered General Dynamics from a buy rating to a hold rating in a research report on Tuesday, October 3rd. Zacks Investment Research upgraded General Dynamics from a hold rating to a buy rating and set a $238.00 target price for the company in a research report on Thursday, October 26th. Credit Suisse Group restated an outperform rating and set a $238.00 target price (up previously from $216.00) on shares of General Dynamics in a research report on Thursday, October 26th. Finally, Jefferies Group restated a buy rating and set a $237.00 target price on shares of General Dynamics in a research report on Monday, January 8th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $218.92.
Shares of General Dynamics (NYSE:GD) traded up $5.08 during trading hours on Tuesday, hitting $210.59. The company’s stock had a trading volume of 1,892,695 shares, compared to its average volume of 1,091,684. General Dynamics has a fifty-two week low of $172.43 and a fifty-two week high of $214.81. The stock has a market capitalization of $61,361.77, a price-to-earnings ratio of 21.00, a PEG ratio of 2.22 and a beta of 0.72. The company has a quick ratio of 0.93, a current ratio of 1.37 and a debt-to-equity ratio of 0.34.
General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.09. General Dynamics had a return on equity of 27.98% and a net margin of 9.94%. The business had revenue of $7.58 billion during the quarter, compared to analyst estimates of $7.94 billion. During the same quarter in the previous year, the business earned $2.36 earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. analysts expect that General Dynamics will post 9.8 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 19th will be issued a $0.84 dividend. The ex-dividend date is Thursday, January 18th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.60%. General Dynamics’s payout ratio is 33.50%.
In related news, insider John Patrick Casey sold 34,945 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total value of $7,037,224.10. Following the completion of the transaction, the insider now owns 144,378 shares of the company’s stock, valued at $29,074,841.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $202.93, for a total transaction of $15,903,624.10. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. ETRADE Capital Management LLC raised its stake in General Dynamics by 38.0% in the third quarter. ETRADE Capital Management LLC now owns 2,337 shares of the aerospace company’s stock worth $481,000 after buying an additional 643 shares in the last quarter. Brightworth acquired a new position in shares of General Dynamics during the third quarter worth $5,882,000. Park National Corp OH increased its position in shares of General Dynamics by 7.6% during the third quarter. Park National Corp OH now owns 45,986 shares of the aerospace company’s stock worth $9,454,000 after purchasing an additional 3,234 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of General Dynamics during the second quarter worth $2,218,000. Finally, Amalgamated Bank increased its position in shares of General Dynamics by 1.8% during the third quarter. Amalgamated Bank now owns 30,733 shares of the aerospace company’s stock worth $6,318,000 after purchasing an additional 549 shares in the last quarter. 86.76% of the stock is owned by institutional investors.
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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.
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