General Dynamics Co. (NYSE:GD – Get Free Report)’s share price traded up 2.6% during mid-day trading on Thursday after Wells Fargo & Company raised their price target on the stock from $330.00 to $334.00. Wells Fargo & Company currently has an overweight rating on the stock. General Dynamics traded as high as $293.98 and last traded at $292.05. 357,983 shares changed hands during trading, a decline of 66% from the average session volume of 1,062,513 shares. The stock had previously closed at $284.67.
A number of other research firms have also issued reports on GD. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a report on Thursday. StockNews.com lowered shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Robert W. Baird restated an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a report on Tuesday, July 2nd. Barclays raised their price objective on shares of General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Morgan Stanley raised their price objective on shares of General Dynamics from $271.00 to $293.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and a consensus price target of $311.33.
Get Our Latest Research Report on General Dynamics
Insiders Place Their Bets
Institutional Investors Weigh In On General Dynamics
Institutional investors have recently bought and sold shares of the stock. MeadowBrook Investment Advisors LLC purchased a new stake in General Dynamics in the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. purchased a new stake in General Dynamics during the fourth quarter worth approximately $25,000. Redmont Wealth Advisors LLC purchased a new stake in General Dynamics during the first quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in General Dynamics during the first quarter worth approximately $29,000. Finally, New Covenant Trust Company N.A. purchased a new stake in General Dynamics during the first quarter worth approximately $29,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.
General Dynamics Trading Down 0.2 %
The company has a quick ratio of 0.87, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The firm’s 50 day simple moving average is $292.65 and its 200-day simple moving average is $282.16. The company has a market capitalization of $79.80 billion, a PE ratio of 23.69, a P/E/G ratio of 1.67 and a beta of 0.60.
General Dynamics (NYSE:GD – Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. During the same quarter in the prior year, the firm earned $2.70 earnings per share. General Dynamics’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, equities research analysts anticipate that General Dynamics Co. will post 14.52 EPS for the current year.
General Dynamics Dividend Announcement
The company also recently announced 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. The ex-dividend date is Friday, July 5th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.96%. General Dynamics’s payout ratio is currently 46.33%.
About General Dynamics
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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