Cowen reaffirmed their buy rating on shares of General Dynamics (NYSE:GD) in a research note released on Monday. They currently have a $253.00 price target on the aerospace company’s stock.
A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of General Dynamics from a hold rating to a sell rating in a research note on Wednesday, October 10th. Drexel Hamilton reiterated a buy rating and issued a $230.00 price target on shares of General Dynamics in a research note on Thursday, August 16th. UBS Group started coverage on shares of General Dynamics in a research note on Wednesday, August 15th. They issued a neutral rating and a $210.00 price target on the stock. Bank of America set a $275.00 target price on shares of General Dynamics and gave the company a buy rating in a research note on Tuesday, July 31st. Finally, ValuEngine upgraded shares of General Dynamics from a sell rating to a hold rating in a research note on Saturday, July 28th. Three analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. General Dynamics currently has an average rating of Hold and an average target price of $241.12.
Shares of General Dynamics stock opened at $191.22 on Monday. The stock has a market capitalization of $60.81 billion, a P/E ratio of 19.28, a PEG ratio of 1.64 and a beta of 0.77. General Dynamics has a 1 year low of $184.21 and a 1 year high of $230.00. The company has a current ratio of 1.20, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95.
General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 25th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.49 by $0.33. The company had revenue of $9.19 billion for the quarter, compared to analysts’ expectations of $9.09 billion. General Dynamics had a net margin of 9.16% and a return on equity of 27.06%. General Dynamics’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.45 EPS. As a group, analysts expect that General Dynamics will post 11.22 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, October 4th. General Dynamics’s dividend payout ratio is currently 37.39%.
In other news, insider S. Daniel Johnson sold 77,810 shares of the company’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $199.85, for a total transaction of $15,550,328.50. Following the completion of the sale, the insider now owns 99,333 shares of the company’s stock, valued at approximately $19,851,700.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Patrick Casey sold 22,500 shares of the company’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $193.28, for a total transaction of $4,348,800.00. Following the sale, the insider now directly owns 118,555 shares of the company’s stock, valued at approximately $22,914,310.40. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CX Institutional purchased a new stake in shares of General Dynamics during the 2nd quarter valued at about $107,000. CSat Investment Advisory L.P. purchased a new stake in General Dynamics in the 2nd quarter worth approximately $101,000. James Investment Research Inc. purchased a new stake in General Dynamics in the 2nd quarter worth approximately $112,000. BerganKDV Wealth Management LLC purchased a new stake in General Dynamics in the 2nd quarter worth approximately $114,000. Finally, Fort L.P. purchased a new stake in General Dynamics in the 2nd quarter worth approximately $117,000. 85.41% 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 through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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