General Dynamics (NYSE:GD) Price Target Raised to $320.00

General Dynamics (NYSE:GD) had its target price lifted by Citigroup from $300.00 to $320.00 in a report released on Thursday, Benzinga reports. The firm currently has a “buy” rating on the aerospace company’s stock. Citigroup’s price objective would suggest a potential upside of 12.29% from the company’s current price.

A number of other research firms have also recently issued reports on GD. Alembic Global Advisors cut shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 target price for the company. in a research note on Monday, January 29th. The Goldman Sachs Group lifted their price target on shares of General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Wells Fargo & Company boosted their target price on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Susquehanna boosted their target price on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a research report on Friday, April 12th. Finally, JPMorgan Chase & Co. boosted their price target on shares of General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $285.63.

General Dynamics Stock Performance

Shares of NYSE:GD traded up $3.86 on Thursday, reaching $284.97. 1,769,633 shares of the company’s stock were exchanged, compared to its average volume of 1,113,098. The firm has a market capitalization of $78.19 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 1.86 and a beta of 0.68. General Dynamics has a fifty-two week low of $202.35 and a fifty-two week high of $296.50. The business’s 50-day moving average is $280.26 and its two-hundred day moving average is $261.22. The company has a quick ratio of 0.92, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The company had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.26 billion. General Dynamics had a net margin of 7.84% and a return on equity of 16.61%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.64 EPS. As a group, equities research analysts forecast that General Dynamics will post 14.56 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Phebe N. Novakovic sold 32,355 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $264.31, for a total value of $8,551,750.05. Following the completion of the transaction, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at $204,569,860.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of General Dynamics stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the completion of the sale, the chief executive officer now owns 773,977 shares of the company’s stock, valued at $204,569,860.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark C. Roualet sold 73,330 shares of General Dynamics stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $264.75, for a total value of $19,414,117.50. Following the completion of the transaction, the executive vice president now owns 149,205 shares in the company, valued at approximately $39,502,023.75. The disclosure for this sale can be found here. Company insiders own 1.52% of the company’s stock.

Institutional Trading of General Dynamics

A number of hedge funds have recently made changes to their positions in GD. Legend Financial Advisors Inc. boosted its holdings in shares of General Dynamics by 46.8% in the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after buying an additional 36 shares in the last quarter. Diversified Trust Co boosted its holdings in shares of General Dynamics by 2.5% in the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock valued at $425,000 after buying an additional 36 shares in the last quarter. Fulton Bank N.A. boosted its holdings in shares of General Dynamics by 1.1% in the 1st quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock valued at $932,000 after buying an additional 37 shares in the last quarter. Copperwynd Financial LLC boosted its holdings in shares of General Dynamics by 3.7% in the 4th quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock valued at $274,000 after buying an additional 38 shares in the last quarter. Finally, Woodward Diversified Capital LLC boosted its holdings in shares of General Dynamics by 2.3% in the 4th quarter. Woodward Diversified Capital LLC now owns 1,727 shares of the aerospace company’s stock valued at $448,000 after buying an additional 39 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.