Stifel Nicolaus restated their hold rating on shares of General Dynamics (NYSE:GD) in a research note released on Tuesday morning. The brokerage currently has a $220.00 price objective on the aerospace company’s stock.
Several other equities analysts also recently issued reports on the company. Jefferies Group reissued a buy rating and issued a $237.00 target price on shares of General Dynamics in a research report on Monday, January 8th. Zacks Investment Research downgraded General Dynamics from a hold rating to a sell rating in a research report on Tuesday, December 26th. JPMorgan Chase & Co. downgraded General Dynamics from a neutral rating to an underweight rating and cut their target price for the company from $225.00 to $215.00 in a research report on Tuesday, December 12th. ValuEngine downgraded General Dynamics from a buy rating to a hold rating in a research report on Thursday, November 30th. Finally, Royal Bank of Canada set a $239.00 target price on General Dynamics and gave the company a buy rating in a research report on Wednesday, November 15th. Three analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. General Dynamics currently has a consensus rating of Hold and a consensus price target of $218.92.
Shares of General Dynamics (NYSE GD) traded up $5.08 during mid-day trading on Tuesday, hitting $210.59. The stock had a trading volume of 1,892,695 shares, compared to its average volume of 1,091,684. The firm has a market capitalization of $61,361.77, a P/E ratio of 21.00, a PEG ratio of 2.22 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.93 and a current ratio of 1.37. General Dynamics has a 1-year low of $172.43 and a 1-year high of $214.81.
General Dynamics (NYSE:GD) last released its earnings results on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.09. General Dynamics had a return on equity of 27.98% and a net margin of 9.94%. The firm had revenue of $7.58 billion for the quarter, compared to the consensus estimate of $7.94 billion. During the same period in the prior year, the firm earned $2.36 EPS. The firm’s revenue was down 1.0% on a year-over-year basis. sell-side analysts forecast that General Dynamics will post 9.8 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 19th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 1.60%. The ex-dividend date is Thursday, January 18th. General Dynamics’s payout ratio is 33.50%.
In other news, insider John Patrick Casey sold 34,945 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total transaction of $7,037,224.10. Following the sale, the insider now directly owns 144,378 shares of the company’s stock, valued at approximately $29,074,841.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $202.93, for a total transaction of $15,903,624.10. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Pathstone Family Office LLC raised its position in shares of General Dynamics by 100.0% during the 2nd quarter. Pathstone Family Office LLC now owns 24 shares of the aerospace company’s stock worth $4,754,000 after purchasing an additional 12 shares during the last quarter. Vantage Investment Advisors LLC raised its position in shares of General Dynamics by 9.3% during the 2nd quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock worth $116,000 after purchasing an additional 50 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of General Dynamics by 6.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 645 shares of the aerospace company’s stock worth $110,000 after purchasing an additional 37 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of General Dynamics during the 2nd quarter worth about $129,000. Finally, WFG Advisors LP raised its position in shares of General Dynamics by 0.3% during the 2nd quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock worth $132,000 after purchasing an additional 2 shares during the last quarter. 86.76% of the stock is currently owned by institutional investors and hedge funds.
About General Dynamics
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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