General Dynamics (NYSE:GD) Research Coverage Started at BTIG Research

BTIG Research began coverage on shares of General Dynamics (NYSE:GD) in a research report released on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $345.00 price objective on the aerospace company’s stock.

Several other analysts have also weighed in on the company. Sanford C. Bernstein increased their price target on General Dynamics from $290.00 to $302.00 and gave the company a market perform rating in a report on Thursday, May 23rd. Citigroup upped their price objective on General Dynamics from $300.00 to $320.00 and gave the company a buy rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. upped their price objective on General Dynamics from $280.00 to $298.00 and gave the company an overweight rating in a research report on Thursday, April 25th. Argus upped their price objective on General Dynamics from $290.00 to $310.00 and gave the company a buy rating in a research report on Monday, April 29th. Finally, Royal Bank of Canada cut their price objective on General Dynamics from $325.00 to $320.00 and set an outperform rating on the stock in a research report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $303.24.

General Dynamics Stock Performance

NYSE:GD opened at $290.14 on Wednesday. The stock’s fifty day moving average is $294.27 and its 200 day moving average is $277.90. General Dynamics has a fifty-two week low of $210.65 and a fifty-two week high of $302.75. The firm has a market capitalization of $79.60 billion, a PE ratio of 23.67, a PEG ratio of 1.67 and a beta of 0.64. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The company had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter in the previous year, the company posted $2.64 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts anticipate that General Dynamics will post 14.55 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s payout ratio is 46.33%.

Insider Activity at General Dynamics

In related news, Director Leon Rudy F. De sold 2,570 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $288.00, for a total transaction of $740,160.00. Following the sale, the director now owns 5,518 shares of the company’s stock, valued at $1,589,184. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the sale, the vice president now owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Leon Rudy F. De sold 2,570 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $288.00, for a total value of $740,160.00. Following the sale, the director now directly owns 5,518 shares in the company, valued at approximately $1,589,184. The disclosure for this sale can be found here. Insiders have sold a total of 118,486 shares of company stock valued at $34,391,642 over the last quarter. 1.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On General Dynamics

A number of institutional investors have recently added to or reduced their stakes in GD. Redmont Wealth Advisors LLC purchased a new stake in General Dynamics in the first quarter valued at about $25,000. MeadowBrook Investment Advisors LLC purchased a new stake in General Dynamics in the fourth quarter valued at about $25,000. Richardson Financial Services Inc. purchased a new stake in General Dynamics in the fourth quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in General Dynamics in the first quarter valued at about $29,000. Finally, New Covenant Trust Company N.A. purchased a new stake in General Dynamics in the first quarter valued at about $29,000. Institutional investors own 86.14% of the company’s stock.

General Dynamics Company Profile

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.