General Dynamics Co. (NYSE:GD) Receives $323.69 Consensus Target Price from Brokerages

Shares of General Dynamics Co. (NYSE:GD) have earned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $323.69.

A number of equities analysts have recently issued reports on the company. Barclays upped their price objective on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Wells Fargo & Company lifted their target price on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th.

General Dynamics Trading Down 0.9 %

Shares of GD opened at $275.15 on Friday. General Dynamics has a 1-year low of $247.36 and a 1-year high of $316.90. The company has a market capitalization of $75.66 billion, a P/E ratio of 20.96, a P/E/G ratio of 1.68 and a beta of 0.59. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The firm’s 50 day simple moving average is $296.00 and its 200 day simple moving average is $295.03.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.04 EPS. Sell-side analysts forecast that General Dynamics will post 13.92 earnings per share for the current fiscal year.

General Dynamics declared that its Board of Directors has approved a stock buyback program on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 2.06%. The ex-dividend date is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is currently 43.26%.

Insider Transactions at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the transaction, the vice president now owns 20,296 shares in the company, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Coston McIsaac & Partners boosted its position in shares of General Dynamics by 22.8% in the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after purchasing an additional 33 shares in the last quarter. Global X Japan Co. Ltd. grew its stake in shares of General Dynamics by 2.3% in the third quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock worth $448,000 after acquiring an additional 33 shares during the last quarter. Grove Bank & Trust increased its holdings in shares of General Dynamics by 10.6% during the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock valued at $107,000 after acquiring an additional 34 shares in the last quarter. Trueblood Wealth Management LLC raised its position in shares of General Dynamics by 1.6% in the 3rd quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock worth $672,000 after purchasing an additional 34 shares during the last quarter. Finally, Modera Wealth Management LLC boosted its stake in 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 purchasing an additional 35 shares in the last quarter. 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.