General Dynamics (NYSE:GD) Price Target Increased to $320.00 by Analysts at Citigroup

General Dynamics (NYSE:GD) had its price target boosted by analysts at Citigroup from $300.00 to $320.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the aerospace company’s stock. Citigroup’s target price would suggest a potential upside of 12.29% from the company’s current price.

Several other research firms have also recently weighed in on GD. Barclays increased their price target on shares of General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Susquehanna increased their price target on shares of General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a report on Friday, April 12th. UBS Group increased their price target on shares of General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a report on Monday, January 29th. StockNews.com cut shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 3rd. Finally, Wells Fargo & Company increased their price target on shares of General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $285.63.

General Dynamics Stock Performance

Shares of GD stock traded up $3.86 on Thursday, reaching $284.97. The stock had a trading volume of 1,769,633 shares, compared to its average volume of 1,113,098. The company has a quick ratio of 0.92, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The firm’s 50-day moving average is $280.26 and its two-hundred day moving average is $261.22. The firm has a market capitalization of $78.19 billion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 1.86 and a beta of 0.68. General Dynamics has a 12 month low of $202.35 and a 12 month high of $296.50.

General Dynamics (NYSE:GD) last issued 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 firm 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 firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.64 earnings per share. On average, research analysts expect that General Dynamics will post 14.56 EPS for the current fiscal year.

Insider Buying and Selling

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $264.31, for a total value of $8,551,750.05. Following the sale, the chief executive officer now owns 773,977 shares in the company, valued at $204,569,860.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $264.31, for a total value of $8,551,750.05. Following the sale, the chief executive officer now owns 773,977 shares in the company, valued at $204,569,860.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark C. Roualet sold 73,330 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the completion of the sale, 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. 1.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On General Dynamics

Several large investors have recently modified their holdings of GD. MeadowBrook Investment Advisors LLC bought a new position in General Dynamics during the fourth quarter worth $25,000. Richardson Financial Services Inc. bought a new position in General Dynamics during the fourth quarter worth $25,000. Redmont Wealth Advisors LLC bought a new position in General Dynamics during the first quarter worth $25,000. Briaud Financial Planning Inc bought a new position in General Dynamics during the third quarter worth $27,000. Finally, Impact Partnership Wealth LLC grew its holdings in General Dynamics by 411.5% in the third quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 107 shares during the period. Institutional investors own 86.14% of the company’s stock.

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.