Jefferies Group reissued their buy rating on shares of General Dynamics (NYSE:GD) in a report released on Monday, January 8th. They currently have a $237.00 price objective on the aerospace company’s stock.
GD has been the topic of a number of other research reports. Stifel Nicolaus boosted their price objective on General Dynamics from $200.00 to $210.00 and gave the stock a hold rating in a research note on Thursday, October 26th. Deutsche Bank reiterated a hold rating and issued a $210.00 price target (up previously from $200.00) on shares of General Dynamics in a research note on Monday, October 2nd. Royal Bank of Canada set a $239.00 price target on General Dynamics and gave the stock a buy rating in a research note on Wednesday, November 15th. ValuEngine cut General Dynamics from a buy rating to a hold rating in a research note on Tuesday, October 3rd. Finally, Cowen reissued a buy rating and issued a $230.00 price objective on shares of General Dynamics in a report on Thursday, October 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. General Dynamics has an average rating of Hold and a consensus price target of $231.94.
Shares of General Dynamics (GD) traded down $3.49 during trading hours on Monday, hitting $221.72. The stock had a trading volume of 1,372,793 shares, compared to its average volume of 1,724,514. The stock has a market capitalization of $65,827.78, a P/E ratio of 23.22, a P/E/G ratio of 2.35 and a beta of 0.85. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.99 and a current ratio of 1.40. General Dynamics has a twelve month low of $180.02 and a twelve month high of $229.54.
General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share for the quarter, beating the Zacks’ 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 analysts’ expectations of $8.40 billion. During the same quarter last year, the firm earned $1.89 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. research analysts forecast that General Dynamics will post 11.1 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 19th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 1.52%. The ex-dividend date is Thursday, January 18th. General Dynamics’s dividend payout ratio (DPR) is currently 35.18%.
In other news, VP Gregory S. Gallopoulos sold 78,370 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $202.93, for a total value of $15,903,624.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.70% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in General Dynamics by 1.9% during the second quarter. Vanguard Group Inc. now owns 20,176,505 shares of the aerospace company’s stock valued at $3,996,966,000 after acquiring an additional 376,688 shares during the period. Capital Research Global Investors lifted its stake in shares of General Dynamics by 4.5% in the second quarter. Capital Research Global Investors now owns 16,792,408 shares of the aerospace company’s stock valued at $3,326,576,000 after buying an additional 725,896 shares during the period. BlackRock Inc. lifted its stake in shares of General Dynamics by 5.3% in the second quarter. BlackRock Inc. now owns 16,338,831 shares of the aerospace company’s stock valued at $3,236,720,000 after buying an additional 829,487 shares during the period. Janus Henderson Group PLC lifted its stake in shares of General Dynamics by 6.1% in the third quarter. Janus Henderson Group PLC now owns 5,302,868 shares of the aerospace company’s stock valued at $1,090,164,000 after buying an additional 304,175 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of General Dynamics by 1.9% in the second quarter. Franklin Resources Inc. now owns 3,786,244 shares of the aerospace company’s stock valued at $750,055,000 after buying an additional 71,287 shares during the period. Institutional investors own 86.82% of the company’s stock.
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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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