General Dynamics (NYSE:GD) Price Target Raised to $310.00 at Argus

General Dynamics (NYSE:GD) had its target price increased by Argus from $290.00 to $310.00 in a report published on Monday morning, Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

A number of other equities research analysts also recently issued reports on the company. The Goldman Sachs Group increased their price target on General Dynamics from $253.00 to $284.00 and gave the stock a neutral rating in a research report on Tuesday, April 16th. Citigroup boosted their price target on General Dynamics from $300.00 to $320.00 and gave the company a buy rating in a research note on Thursday, April 25th. Alembic Global Advisors downgraded shares of General Dynamics from an overweight rating to a neutral rating and set a $296.00 price objective on the stock. in a research note on Monday, January 29th. StockNews.com upgraded shares of General Dynamics from a buy rating to a strong-buy rating in a research report on Thursday, April 25th. Finally, Royal Bank of Canada reduced their price target on shares of General Dynamics from $325.00 to $320.00 and set an outperform rating on the stock in a research report on Thursday, April 25th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, General Dynamics presently has an average rating of Moderate Buy and an average target price of $297.06.

General Dynamics Trading Up 1.2 %

Shares of General Dynamics stock opened at $287.79 on Monday. The business’s 50 day moving average is $281.23 and its 200-day moving average is $262.41. General Dynamics has a 12-month low of $202.35 and a 12-month high of $296.50. The stock has a market cap of $78.96 billion, a P/E ratio of 23.47, a P/E/G ratio of 1.77 and a beta of 0.68. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.01). The business had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.64 EPS. Equities research analysts predict that General Dynamics will post 14.57 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio is currently 46.33%.

Institutional Investors Weigh In On General Dynamics

A number of institutional investors and hedge funds have recently bought and sold shares of GD. Vanguard Group Inc. increased its stake in General Dynamics by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,423,961 shares of the aerospace company’s stock valued at $4,955,023,000 after buying an additional 133,061 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of General Dynamics by 12.0% in the third quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock valued at $3,615,185,000 after acquiring an additional 1,755,276 shares in the last quarter. Sanders Capital LLC increased its position in shares of General Dynamics by 3.7% during the fourth quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock valued at $1,081,488,000 after acquiring an additional 147,800 shares during the last quarter. Norges Bank bought a new stake in General Dynamics during the fourth quarter worth $728,284,000. Finally, FMR LLC boosted its position in General Dynamics by 13.7% in the third quarter. FMR LLC now owns 2,293,269 shares of the aerospace company’s stock worth $506,744,000 after purchasing an additional 275,947 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

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.