General Dynamics Corporation (NYSE:GD) Receives $388.40 Consensus Price Target from Brokerages

General Dynamics Corporation (NYSE:GDGet Free Report) has received an average recommendation of “Moderate Buy” from the twenty-one analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, thirteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $388.40.

A number of equities analysts have commented on the stock. Jefferies Financial Group raised shares of General Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $380.00 to $400.00 in a research note on Thursday, June 11th. Wells Fargo & Company assumed coverage on General Dynamics in a research note on Wednesday, April 1st. They set an “overweight” rating and a $400.00 target price on the stock. Citigroup decreased their price target on shares of General Dynamics from $380.00 to $364.00 and set a “neutral” rating for the company in a research report on Monday, May 18th. JPMorgan Chase & Co. lifted their price objective on General Dynamics from $385.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, DA Davidson dropped their price objective on shares of General Dynamics from $384.00 to $375.00 in a research report on Thursday, April 30th.

View Our Latest Stock Report on GD

Insider Buying and Selling

In other news, EVP Mark Lagrand Burns sold 36,480 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction 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. The trade was a 48.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Malcolm sold 5,480 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the sale, the director directly owned 10,643 shares of the company’s stock, valued at approximately $3,884,695. This trade represents a 33.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 78,190 shares of company stock worth $27,041,022. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On General Dynamics

Institutional investors and hedge funds have recently made changes to their positions in the business. Brighton Jones LLC raised its stake in shares of General Dynamics by 16.9% during the fourth quarter. Brighton Jones LLC now owns 2,885 shares of the aerospace company’s stock worth $760,000 after purchasing an additional 417 shares during the last quarter. Acadian Asset Management LLC boosted its stake 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 acquiring an additional 2,011 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of General Dynamics in the 2nd quarter worth approximately $240,000. Flow Traders U.S. LLC purchased a new position in General Dynamics in the 2nd quarter valued at approximately $352,000. Finally, Jump Financial LLC acquired a new position in General Dynamics during the second quarter worth $1,284,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

NYSE:GD opened at $373.34 on Monday. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average price is $344.97 and its 200-day moving average price is $348.35. General Dynamics has a twelve month low of $292.34 and a twelve month high of $373.60. The company has a market cap of $100.96 billion, a P/E ratio of 23.50, a P/E/G ratio of 2.31 and a beta of 0.34.

General Dynamics (NYSE:GDGet Free Report) last issued its 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. The business had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.66 EPS. On average, sell-side analysts forecast that General Dynamics will post 16.63 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Thursday, July 2nd will be given a dividend of $1.59 per share. This represents a $6.36 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, July 2nd. General Dynamics’s dividend payout ratio (DPR) is 40.03%.

General Dynamics Company Profile

(Get Free Report)

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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Analyst Recommendations for General Dynamics (NYSE:GD)

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