General Dynamics (NYSE:GD – Free Report) had its target price upped by Sanford C. Bernstein from $365.00 to $386.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a market perform rating on the aerospace company’s stock.
Several other equities analysts have also weighed in on the stock. UBS Group increased their price objective on shares of General Dynamics from $395.00 to $408.00 and gave the company a “neutral” rating in a research report on Tuesday, September 8th. Wells Fargo & Company lifted their target price on shares of General Dynamics from $400.00 to $440.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. BNP Paribas Exane upped their price target on shares of General Dynamics from $390.00 to $430.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Royal Bank Of Canada increased their price target on shares of General Dynamics from $360.00 to $400.00 and gave the company a “sector perform” rating in a report on Monday. Finally, Bank of America raised their price objective on shares of General Dynamics from $400.00 to $415.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Eleven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $408.94.
View Our Latest Stock Report on GD
General Dynamics Stock Down 2.2%
GD stock opened at $356.85 on Tuesday. General Dynamics has a 1-year low of $306.77 and a 1-year high of $400.00. The business’s 50 day simple moving average is $350.29 and its 200 day simple moving average is $355.08. The company has a current ratio of 1.43, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $96.43 billion, a PE ratio of 21.46, a PEG ratio of 2.06 and a beta of 0.30.
General Dynamics (NYSE:GD – Get Free Report) last announced its quarterly earnings results on Friday, October 30th. The aerospace company reported $4.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $0.37. General Dynamics had a return on equity of 17.60% and a net margin of 8.24%. The business had revenue of $14.57 billion during the quarter, compared to the consensus estimate of $13.72 billion. During the same quarter last year, the firm posted $3.88 EPS. The company’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, research analysts anticipate that General Dynamics will post 17.29 EPS for the current year.
Insider Transactions at General Dynamics
In other General Dynamics news, Director Robert K. Steel sold 7,440 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $346.05, for a total transaction of $2,574,612.00. Following the transaction, the director owned 3,096 shares in the company, valued at $1,071,370.80. This trade represents a 70.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by corporate insiders.
Institutional Trading of General Dynamics
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in General Dynamics during the 2nd quarter valued at $6,840,590,000. State Street Corp raised its holdings in General Dynamics by 3.3% during the second quarter. State Street Corp now owns 11,811,099 shares of the aerospace company’s stock worth $4,183,964,000 after buying an additional 374,682 shares during the last quarter. Bank of America Corp DE bought a new position in shares of General Dynamics in the second quarter valued at $2,603,527,000. Sanders Capital LLC lifted its stake in shares of General Dynamics by 0.3% in the third quarter. Sanders Capital LLC now owns 3,555,708 shares of the aerospace company’s stock valued at $1,179,891,000 after buying an additional 9,552 shares in the last quarter. Finally, Corient Private Wealth LP grew its holdings in shares of General Dynamics by 806.3% during the second quarter. Corient Private Wealth LP now owns 1,661,702 shares of the aerospace company’s stock valued at $588,641,000 after buying an additional 1,478,353 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.
General Dynamics Company Profile
General Dynamics Corporation (NYSE: GD) is a global aerospace and defense company that develops, manufactures and supports products and services for government and commercial customers. Its operations serve the U.S. government, allied nations and other customers worldwide, with a significant focus on national security, military modernization and mission support.
The company operates through four primary business areas. Aerospace provides Gulfstream business jets and related aircraft services through Gulfstream Aerospace, as well as aircraft management, charter, maintenance and completions services through Jet Aviation.
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