Shares of General Dynamics Corporation (NYSE:GD – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, eleven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $387.40.
Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $385.00 price objective on shares of General Dynamics in a report on Thursday, April 30th. The Goldman Sachs Group cut their price objective on shares of General Dynamics from $327.00 to $313.00 and set a “sell” rating for the company in a report on Monday, May 4th. UBS Group cut their price objective on shares of General Dynamics from $385.00 to $371.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. Finally, DA Davidson cut their price objective on shares of General Dynamics from $384.00 to $375.00 in a report on Thursday, April 30th.
Read Our Latest Stock Analysis on General Dynamics
General Dynamics Stock Down 1.6%
General Dynamics (NYSE:GD – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm had revenue of $13.48 billion during the quarter, compared to the consensus estimate of $12.70 billion. During the same quarter in the prior year, the firm earned $3.66 EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Sell-side analysts expect that General Dynamics will post 16.62 earnings per share for the current fiscal year.
General Dynamics Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be issued a $1.59 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 dividend on an annualized basis and a yield of 1.9%. General Dynamics’s dividend payout ratio is presently 40.03%.
Insider Buying and Selling at General Dynamics
In other General Dynamics news, EVP Mark Lagrand Burns sold 36,480 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total value of $12,596,179.20. Following the completion of the sale, the executive vice president owned 38,975 shares in the company, valued at approximately $13,457,677.75. This represents a 48.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Phebe N. Novakovic sold 32,918 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $354.09, for a total transaction of $11,655,934.62. Following the sale, the chief executive officer owned 766,457 shares of the company’s stock, valued at $271,394,759.13. This represents a 4.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 119,600 shares of company stock worth $41,650,580. Insiders own 1.40% of the company’s stock.
Institutional Trading of General Dynamics
A number of hedge funds and other institutional investors have recently made changes to their positions in GD. Brighton Jones LLC increased its holdings in shares of General Dynamics by 16.9% during the 4th quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock worth $760,000 after buying an additional 417 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of General Dynamics by 140.2% during the 1st quarter. Acadian Asset Management LLC now owns 3,445 shares of the aerospace company’s stock worth $938,000 after buying an additional 2,011 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of General Dynamics during the 2nd quarter worth approximately $240,000. Flow Traders U.S. LLC acquired a new stake in shares of General Dynamics during the 2nd quarter worth approximately $352,000. Finally, Jump Financial LLC acquired a new stake in shares of General Dynamics during the 2nd quarter worth approximately $1,284,000. Institutional investors and hedge funds own 86.14% of the company’s stock.
General Dynamics Company Profile
General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.
Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.
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