Sanford C. Bernstein Cuts General Dynamics (NYSE:GD) Price Target to $331.00

General Dynamics (NYSE:GD) had its target price decreased by Sanford C. Bernstein from $343.00 to $331.00 in a research note published on Thursday, Benzinga reports. Sanford C. Bernstein currently has a market perform rating on the aerospace company’s stock.

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada raised their target price on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Susquehanna raised their target price on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. BTIG Research started coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price on the stock. Finally, Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $323.88.

General Dynamics Stock Performance

Shares of GD opened at $302.52 on Thursday. The business’s fifty day moving average price is $300.40 and its 200 day moving average price is $294.74. General Dynamics has a 12-month low of $236.58 and a 12-month high of $313.11. The stock has a market capitalization of $83.13 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.72 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.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The firm had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the business earned $3.04 earnings per share. Equities research analysts forecast that General Dynamics will post 14.27 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is currently 44.31%.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Dynamics

A number of institutional investors have recently bought and sold shares of GD. Brookstone Capital Management increased its stake in General Dynamics by 3.1% in the 1st quarter. Brookstone Capital Management now owns 21,368 shares of the aerospace company’s stock worth $6,036,000 after purchasing an additional 651 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its position in General Dynamics by 114.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,032 shares of the aerospace company’s stock worth $857,000 after acquiring an additional 1,620 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in General Dynamics by 2.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 147,736 shares of the aerospace company’s stock worth $41,734,000 after acquiring an additional 3,531 shares during the period. Cypress Wealth Services LLC acquired a new stake in General Dynamics during the 1st quarter worth about $243,000. Finally, Courier Capital LLC boosted its position in General Dynamics by 22.6% during the 1st quarter. Courier Capital LLC now owns 7,844 shares of the aerospace company’s stock worth $2,216,000 after acquiring an additional 1,447 shares during the period. Hedge funds and other 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.