Analysts at Robert W. Baird initiated coverage on shares of General Dynamics Corp. (NYSE:GD) in a report released on Thursday, StockTargetPrices.com reports. The firm set an “outperform” rating and a $181.00 price target on the stock. Robert W. Baird’s target price suggests a potential upside of 17.75% from the company’s current price.
A number of other analysts have also commented on the stock. Zacks Investment Research raised shares of General Dynamics Corp. from a “hold” rating to a “buy” rating and set a $159.00 target price for the company in a report on Monday, July 18th. Citigroup Inc. lifted their target price on shares of General Dynamics Corp. from $162.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Jefferies Group reaffirmed a “buy” rating on shares of General Dynamics Corp. in a report on Sunday, July 3rd. Sanford C. Bernstein raised shares of General Dynamics Corp. from a “market perform” rating to an “outperform” rating and set a $180.00 target price for the company in a report on Wednesday, August 10th. They noted that the move was a valuation call. Finally, Argus boosted their price target on shares of General Dynamics Corp. from $160.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $159.27.
Shares of General Dynamics Corp. (NYSE:GD) opened at 153.72 on Thursday. General Dynamics Corp. has a 1-year low of $121.61 and a 1-year high of $156.97. The stock’s 50 day moving average price is $152.91 and its 200 day moving average price is $143.76. The company has a market capitalization of $46.80 billion, a price-to-earnings ratio of 16.35 and a beta of 0.76.
General Dynamics Corp. (NYSE:GD) last released its earnings results on Wednesday, July 27th. The company reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.13. General Dynamics Corp. had a net margin of 9.53% and a return on equity of 27.74%. The firm earned $7.66 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same quarter in the previous year, the business earned $2.27 EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. Analysts expect that General Dynamics Corp. will post $9.73 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be issued a $0.76 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.98%. General Dynamics Corp.’s payout ratio is 32.27%.
In other General Dynamics Corp. news, insider S. Daniel Johnson sold 33,650 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $147.91, for a total value of $4,977,171.50. Following the transaction, the insider now directly owns 107,922 shares of the company’s stock, valued at approximately $15,962,743.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Gregory S. Gallopoulos sold 39,000 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $146.58, for a total transaction of $5,716,620.00. Following the completion of the transaction, the vice president now directly owns 153,848 shares in the company, valued at $22,551,039.84. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GD. WFG Advisors LP boosted its position in General Dynamics Corp. by 0.3% in the second quarter. WFG Advisors LP now owns 753 shares of the company’s stock valued at $105,000 after buying an additional 2 shares in the last quarter. Signaturefd LLC boosted its position in General Dynamics Corp. by 5.7% in the second quarter. Signaturefd LLC now owns 818 shares of the company’s stock valued at $114,000 after buying an additional 44 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its position in General Dynamics Corp. by 820.0% in the second quarter. Compagnie Lombard Odier SCmA now owns 920 shares of the company’s stock valued at $128,000 after buying an additional 820 shares in the last quarter. Bellwether Investment Group LLC bought a new position in General Dynamics Corp. during the second quarter valued at $136,000. Finally, First New York Securities LLC NY bought a new position in General Dynamics Corp. during the second quarter valued at $139,000. 87.68% of the stock is currently owned by hedge funds and other institutional investors.
General Dynamics Corp. Company Profile
General Dynamics Corporation is an aerospace and defense company that offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions and information technology (IT) services, and shipbuilding.
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