Royal Bank of Canada restated their buy rating on shares of General Dynamics (NYSE:GD) in a research report report published on Friday. The brokerage currently has a $263.00 target price on the aerospace company’s stock.
A number of other equities research analysts also recently commented on GD. JPMorgan Chase downgraded shares of General Dynamics from a neutral rating to an underweight rating and dropped their price objective for the company from $225.00 to $215.00 in a research report on Tuesday, December 12th. Zacks Investment Research downgraded shares of General Dynamics from a hold rating to a sell rating in a research report on Tuesday, December 26th. Jefferies Group reissued a buy rating and issued a $237.00 price objective on shares of General Dynamics in a research report on Monday, January 8th. Stifel Nicolaus reissued a hold rating and issued a $220.00 price objective on shares of General Dynamics in a research report on Tuesday, January 9th. Finally, Credit Suisse Group increased their price objective on shares of General Dynamics from $238.00 to $259.00 and gave the company an outperform rating in a research report on Thursday, January 25th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $239.46.
GD traded down $5.48 during trading hours on Friday, hitting $215.74. 1,496,133 shares of the company’s stock were exchanged, compared to its average volume of 1,328,967. General Dynamics has a 12-month low of $185.64 and a 12-month high of $230.00. The company has a market cap of $65,687.65, a P/E ratio of 21.68, a PEG ratio of 2.33 and a beta of 0.83. The company has a quick ratio of 0.99, a current ratio of 1.40 and a debt-to-equity ratio of 0.35.
General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, January 24th. The aerospace company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.13. General Dynamics had a net margin of 9.40% and a return on equity of 27.22%. The firm had revenue of $8.28 billion for the quarter, compared to the consensus estimate of $8.40 billion. During the same period in the prior year, the firm earned $1.89 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. research analysts forecast that General Dynamics will post 11.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Stockholders of record on Friday, April 13th will be issued a $0.93 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.72 annualized dividend and a dividend yield of 1.72%. General Dynamics’s dividend payout ratio is presently 33.77%.
In related news, VP Gary L. Whited sold 5,977 shares of the stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $224.52, for a total transaction of $1,341,956.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Patrick Casey sold 9,304 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $215.29, for a total transaction of $2,003,058.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,357 shares of company stock valued at $6,715,463. Company insiders own 6.70% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. American Century Companies Inc. raised its position in General Dynamics by 9,395.8% during the 4th quarter. American Century Companies Inc. now owns 452,570 shares of the aerospace company’s stock worth $92,075,000 after buying an additional 447,804 shares during the last quarter. Renaissance Technologies LLC raised its position in General Dynamics by 119.3% during the 4th quarter. Renaissance Technologies LLC now owns 703,800 shares of the aerospace company’s stock worth $143,188,000 after buying an additional 382,883 shares during the last quarter. Alyeska Investment Group L.P. raised its position in General Dynamics by 82.6% during the 3rd quarter. Alyeska Investment Group L.P. now owns 697,511 shares of the aerospace company’s stock worth $143,394,000 after buying an additional 315,512 shares during the last quarter. Janus Henderson Group PLC raised its position in General Dynamics by 6.1% during the 3rd quarter. Janus Henderson Group PLC now owns 5,302,868 shares of the aerospace company’s stock worth $1,090,164,000 after buying an additional 304,175 shares during the last quarter. Finally, Two Sigma Investments LP raised its position in General Dynamics by 129.2% during the 4th quarter. Two Sigma Investments LP now owns 482,813 shares of the aerospace company’s stock worth $98,228,000 after buying an additional 272,166 shares during the last quarter. Hedge funds and other institutional investors 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.
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