Zacks Investment Research upgraded shares of General Dynamics (NYSE:GD) from a hold rating to a buy rating in a report published on Friday. They currently have $234.00 price target on the aerospace company’s stock.
According to Zacks, “General Dynamics is one of the only two contractors in the world equipped to build nuclear-powered submarines and its diverse portfolio of products and services along with its wide customer base provides it with an opportunity to generate solid revenues from different sources. The recent budgetary amendments in the country have been in favor of the company’s business line and the company continues to secure sizeable orders at regular intervals. However, General Dynamics operates in a highly competitive market and has to rely on other companies to provide materials, components and subsystems for its products. Moreover, the company underperformed the broader industry in last six months. Further, the company’s dependence on international sales for a major portion of its revenues exposes it to the risk of currency fluctuations.”
Other research analysts have also issued research reports about the company. Jefferies Group reaffirmed a buy rating and set a $236.00 price target on shares of General Dynamics in a research report on Thursday, October 26th. Stifel Nicolaus reissued a hold rating and issued a $220.00 target price on shares of General Dynamics in a report on Tuesday, January 9th. Cowen reissued a buy rating and issued a $230.00 target price on shares of General Dynamics in a report on Thursday, October 26th. JPMorgan Chase & Co. lowered General Dynamics from a neutral rating to an underweight rating and dropped their target price for the company from $225.00 to $215.00 in a report on Tuesday, December 12th. Finally, ValuEngine lowered General Dynamics from a buy rating to a hold rating in a report on Thursday, November 30th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $218.92.
General Dynamics (GD) traded down $0.90 on Friday, reaching $208.20. The company’s stock had a trading volume of 1,894,700 shares, compared to its average volume of 1,473,729. The firm has a market capitalization of $61,900.00, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 2.24 and a beta of 0.72. General Dynamics has a 52 week low of $172.43 and a 52 week high of $214.81. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.93 and a current ratio of 1.37.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.43 by $0.09. The company had revenue of $7.58 billion for the quarter, compared to analyst estimates of $7.94 billion. General Dynamics had a return on equity of 27.98% and a net margin of 9.94%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.36 earnings per share. sell-side analysts predict that General Dynamics will post 9.81 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 19th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Thursday, January 18th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.61%. General Dynamics’s dividend payout ratio (DPR) is presently 33.37%.
In related news, insider John Patrick Casey sold 34,945 shares of General Dynamics stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total value of $7,037,224.10. Following the sale, the insider now directly owns 144,378 shares in the company, valued at $29,074,841.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Gregory S. Gallopoulos sold 78,370 shares of General Dynamics stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $202.93, for a total value of $15,903,624.10. The disclosure for this sale can be found here. 6.70% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Quadrant Capital Group LLC boosted its position in General Dynamics by 6.1% during the second quarter. Quadrant Capital Group LLC now owns 645 shares of the aerospace company’s stock worth $110,000 after purchasing an additional 37 shares in the last quarter. Vantage Investment Advisors LLC boosted its position in General Dynamics by 9.3% during the second quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock worth $116,000 after purchasing an additional 50 shares in the last quarter. Captrust Financial Advisors purchased a new stake in General Dynamics during the second quarter worth $129,000. WFG Advisors LP lifted its position in shares of General Dynamics by 0.3% in the second quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock valued at $132,000 after acquiring an additional 2 shares in the last quarter. Finally, Fieldpoint Private Securities LLC purchased a new stake in shares of General Dynamics in the third quarter valued at $148,000. Institutional investors own 86.82% of the company’s stock.
About General Dynamics
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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