General Dynamics Co. (NYSE:GD) gapped down prior to trading on Thursday . The stock had previously closed at $221.93, but opened at $218.54. General Dynamics shares last traded at $220.79, with a volume of 749319 shares changing hands.
A number of equities research analysts have weighed in on GD shares. Jefferies Group reaffirmed a “buy” rating and issued a $237.00 target price on shares of General Dynamics in a report on Monday, January 8th. Bank of America raised their target price on General Dynamics from $245.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Royal Bank of Canada set a $246.00 target price on General Dynamics and gave the company a “buy” rating in a report on Tuesday, January 23rd. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $234.00 target price on the stock in a report on Friday, January 19th. Finally, Buckingham Research reaffirmed a “buy” rating and issued a $260.00 target price (up previously from $230.00) on shares of General Dynamics in a report on Tuesday, January 30th. Three equities research 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. General Dynamics has a consensus rating of “Hold” and an average target price of $239.46.
The company has a market cap of $64,891.87, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 2.31 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.37 by $0.13. The business had revenue of $8.28 billion during the quarter, compared to analyst estimates of $8.40 billion. General Dynamics had a return on equity of 27.22% and a net margin of 9.40%. General Dynamics’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the company earned $1.89 EPS. equities analysts expect that General Dynamics Co. will post 11.11 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Friday, April 13th will be given a dividend of $0.93 per share. This is a positive change from General Dynamics’s previous quarterly dividend of $0.84. This represents a $3.72 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Thursday, April 12th. General Dynamics’s dividend payout ratio (DPR) is currently 33.77%.
In related news, Director John M. Keane sold 1,800 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $216.43, for a total transaction of $389,574.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Patrick Casey sold 9,304 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $215.29, for a total value of $2,003,058.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,357 shares of company stock valued at $6,715,463. 6.70% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of General Dynamics by 0.4% in the 4th quarter. BlackRock Inc. now owns 16,670,214 shares of the aerospace company’s stock worth $3,391,556,000 after acquiring an additional 60,034 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of General Dynamics by 6.1% in 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 acquiring an additional 304,175 shares in the last quarter. Geode Capital Management LLC raised its position in shares of General Dynamics by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 3,115,765 shares of the aerospace company’s stock worth $632,676,000 after acquiring an additional 57,738 shares in the last quarter. Bank of Montreal Can raised its position in shares of General Dynamics by 15.0% in the 4th quarter. Bank of Montreal Can now owns 1,557,931 shares of the aerospace company’s stock worth $316,962,000 after acquiring an additional 202,628 shares in the last quarter. Finally, Aristotle Capital Management LLC raised its position in shares of General Dynamics by 7.5% in the 4th quarter. Aristotle Capital Management LLC now owns 1,519,557 shares of the aerospace company’s stock worth $309,154,000 after acquiring an additional 106,068 shares in the last quarter. 86.09% of the stock is owned by institutional investors and hedge funds.
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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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