General Dynamics Corp. (NYSE:GD)‘s stock had its “hold” rating restated by analysts at Deutsche Bank AG in a research report issued to clients and investors on Tuesday.
Several other equities analysts have also weighed in on GD. Robert W. Baird began coverage on General Dynamics Corp. in a research note on Thursday, October 6th. They issued an “outperform” rating and a $181.00 price objective on the stock. Jefferies Group reaffirmed a “buy” rating and issued a $167.00 price objective on shares of General Dynamics Corp. in a research note on Thursday, July 28th. Argus lifted their price objective on General Dynamics Corp. from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Sanford C. Bernstein raised General Dynamics Corp. from a “market perform” rating to an “outperform” rating and set a $180.00 price objective on the stock in a research note on Wednesday, August 10th. They noted that the move was a valuation call. Finally, Vetr raised General Dynamics Corp. from a “hold” rating to a “strong-buy” rating and set a $169.96 price objective on the stock in a research note on Monday. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. General Dynamics Corp. has a consensus rating of “Buy” and a consensus price target of $159.66.
General Dynamics Corp. (NYSE:GD) traded up 0.93% during midday trading on Tuesday, hitting $151.88. The stock had a trading volume of 699,687 shares. The company has a market cap of $46.24 billion, a price-to-earnings ratio of 16.15 and a beta of 0.76. The company has a 50-day moving average price of $152.73 and a 200-day moving average price of $144.86. General Dynamics Corp. has a 12-month low of $121.61 and a 12-month high of $156.97.
General Dynamics Corp. (NYSE:GD) last released its quarterly earnings data on Wednesday, July 27th. The company reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.13. The business had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.88 billion. General Dynamics Corp. had a return on equity of 27.74% and a net margin of 9.53%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.27 EPS. Equities analysts anticipate that General Dynamics Corp. will post $9.73 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be given a dividend of $0.76 per share. The ex-dividend date is Wednesday, October 5th. This represents a $3.04 dividend on an annualized basis and a yield of 2.02%. General Dynamics Corp.’s dividend payout ratio is currently 32.27%.
In related news, VP Gregory S. Gallopoulos sold 39,000 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was 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 owns 153,848 shares in the company, valued at approximately $22,551,039.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert W. Helm sold 87,790 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $150.91, for a total value of $13,248,388.90. Following the transaction, the insider now owns 157,176 shares of the company’s stock, valued at approximately $23,719,430.16. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GD. RS Investment Management Co. LLC bought a new position in General Dynamics Corp. during the second quarter worth about $23,540,000. Edgar Lomax Co. VA raised its position in shares of General Dynamics Corp. by 10.6% in the first quarter. Edgar Lomax Co. VA now owns 269,200 shares of the company’s stock worth $35,365,000 after buying an additional 25,900 shares during the period. Nisa Investment Advisors LLC raised its position in shares of General Dynamics Corp. by 2.8% in the second quarter. Nisa Investment Advisors LLC now owns 120,102 shares of the company’s stock worth $16,723,000 after buying an additional 3,230 shares during the period. AMP Capital Investors Ltd raised its position in shares of General Dynamics Corp. by 2.2% in the first quarter. AMP Capital Investors Ltd now owns 192,930 shares of the company’s stock worth $25,415,000 after buying an additional 4,170 shares during the period. Finally, Schmidt P J Investment Management Inc. raised its position in shares of General Dynamics Corp. by 2.9% in the second quarter. Schmidt P J Investment Management Inc. now owns 8,138 shares of the company’s stock worth $1,133,000 after buying an additional 233 shares during the period. Institutional investors and hedge funds own 87.68% of the company’s stock.
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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