General Dynamics Co. (NYSE:GD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of General Dynamics Co. (NYSE:GD) have earned a consensus rating of “Moderate Buy” from the nineteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $320.18.

Several analysts have recently weighed in on the company. TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company downgraded General Dynamics from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $334.00 to $317.00 in a report on Tuesday, October 1st. Citigroup boosted their target price on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their target price on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th.

General Dynamics Stock Up 0.1 %

Shares of NYSE GD opened at $308.42 on Friday. The company has a market capitalization of $84.62 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The business has a 50-day moving average of $299.34 and a two-hundred day moving average of $294.26. General Dynamics has a 1 year low of $232.29 and a 1 year high of $310.58.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The business had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period last year, the firm earned $2.70 earnings per share. On average, analysts forecast that General Dynamics will post 14.38 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Dynamics

Several institutional investors and hedge funds have recently added to or reduced their stakes in GD. Grove Bank & Trust grew its holdings in shares of General Dynamics by 10.6% in the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after acquiring an additional 34 shares during the period. Modera Wealth Management LLC grew its holdings in shares of General Dynamics by 0.4% in the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock worth $2,356,000 after acquiring an additional 35 shares during the period. Rathbones Group PLC grew its holdings in shares of General Dynamics by 1.8% in the 2nd quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock worth $587,000 after acquiring an additional 35 shares during the period. Legend Financial Advisors Inc. grew its holdings in shares of General Dynamics by 46.8% in the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 36 shares during the period. Finally, Diversified Trust Co grew its holdings in shares of General Dynamics by 2.5% in the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after acquiring an additional 36 shares during the period. Institutional investors and hedge funds 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.