General Dynamics (NYSE:GD) Given New $290.00 Price Target at TD Securities

by · The Markets Daily

General Dynamics (NYSE:GD – Free Report) had its price objective increased by TD Securities from $275.00 to $290.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the aerospace company’s stock.

A number of other equities research analysts have also weighed in on GD. Vertical Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $352.00 to $290.00 in a report on Monday, January 6th. Morgan Stanley lowered General Dynamics from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $315.00 to $305.00 in a report on Wednesday, April 16th. Baird R W downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Citigroup lowered their price target on shares of General Dynamics from $335.00 to $330.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Finally, Cowen restated a “buy” rating on shares of General Dynamics in a research note on Thursday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $293.83.

Check Out Our Latest Report on General Dynamics

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $272.03 on Thursday. General Dynamics has a 12 month low of $239.20 and a 12 month high of $316.90. The stock’s fifty day moving average price is $263.62 and its 200-day moving average price is $272.30. The firm has a market cap of $73.01 billion, a P/E ratio of 19.94, a P/E/G ratio of 1.69 and a beta of 0.43. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD – Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.23. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. On average, equities research analysts expect that General Dynamics will post 14.83 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, April 11th. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a yield of 2.21%. General Dynamics’s payout ratio is 41.61%.

Insider Activity

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the sale, the senior vice president now directly owns 45,192 shares in the company, valued at $12,297,195.12. This trade represents a 37.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the sale, the director now owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. The trade was a 13.85 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

Several hedge funds and other institutional investors have recently bought and sold shares of GD. GAMMA Investing LLC increased its position in shares of General Dynamics by 34,578.2% during the first quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company’s stock worth $339,253,000 after purchasing an additional 1,241,011 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in General Dynamics in the fourth quarter valued at approximately $279,582,000. Raymond James Financial Inc. acquired a new stake in shares of General Dynamics in the fourth quarter valued at approximately $197,238,000. Vanguard Group Inc. grew its position in shares of General Dynamics by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company’s stock worth $6,265,813,000 after acquiring an additional 706,317 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of General Dynamics by 7.4% in the 4th quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company’s stock valued at $1,774,381,000 after acquiring an additional 463,497 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

About General Dynamics

(Get Free Report)

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.

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