Citigroup Increases General Dynamics (NYSE:GD) Price Target to $320.00

General Dynamics (NYSE:GD) had its target price increased by stock analysts at Citigroup from $300.00 to $320.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the aerospace company’s stock. Citigroup’s target price would indicate a potential upside of 12.51% from the company’s previous close.

Several other research firms have also commented on GD. Barclays lifted their price target on shares of General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. UBS Group lifted their price target on shares of General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. StockNews.com downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 3rd. JPMorgan Chase & Co. lifted their target price on shares of General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Wells Fargo & Company lifted their target price on shares of General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $285.63.

General Dynamics Stock Down 0.2 %

GD stock opened at $284.41 on Thursday. The firm has a market cap of $78.03 billion, a PE ratio of 23.20, a PEG ratio of 1.79 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.44. The firm’s 50 day moving average price is $280.86 and its 200-day moving average price is $261.71. General Dynamics has a one year low of $202.35 and a one year high of $296.50.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). The firm had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.64 EPS. On average, equities research analysts anticipate that General Dynamics will post 14.56 EPS for the current year.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $264.31, for a total value of $8,551,750.05. Following the completion of the transaction, the chief executive officer now owns 773,977 shares in the company, valued at $204,569,860.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On General Dynamics

Several institutional investors have recently modified their holdings of the business. MeadowBrook Investment Advisors LLC purchased a new stake in shares of General Dynamics during the 4th quarter worth $25,000. Richardson Financial Services Inc. purchased a new stake in shares of General Dynamics during the 4th quarter worth $25,000. Redmont Wealth Advisors LLC purchased a new stake in shares of General Dynamics during the 1st quarter worth $25,000. Briaud Financial Planning Inc purchased a new stake in shares of General Dynamics during the 3rd quarter worth $27,000. Finally, Impact Partnership Wealth LLC lifted its position in shares of General Dynamics by 411.5% during the 3rd quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 107 shares during the last quarter. 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.