General Dynamics (NYSE:GD) Stock Rating Upgraded by TD Cowen

General Dynamics (NYSE:GD) was upgraded by equities research analysts at TD Cowen to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks.com reports.

GD has been the topic of several other research reports. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $293.00 to $345.00 in a report on Friday, August 9th. Barclays lifted their target price on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. BTIG Research assumed coverage on General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target for the company. Deutsche Bank Aktiengesellschaft decreased their target price on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $317.06.

General Dynamics Trading Up 0.6 %

Shares of GD opened at $298.69 on Tuesday. General Dynamics has a fifty-two week low of $232.29 and a fifty-two week high of $309.97. The company has a market capitalization of $81.95 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. The stock has a fifty day moving average of $297.51 and a two-hundred day moving average of $293.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same quarter last year, the firm earned $2.70 EPS. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, analysts forecast that General Dynamics will post 14.52 EPS for the current year.

Insider Transactions at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.52% of the stock is owned by insiders.

Hedge Funds Weigh In On General Dynamics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Connectus Wealth LLC boosted its position in General Dynamics by 14.1% during the fourth quarter. Connectus Wealth LLC now owns 2,736 shares of the aerospace company’s stock valued at $711,000 after purchasing an additional 339 shares during the last quarter. Cresset Asset Management LLC grew its position in General Dynamics by 6.0% in the fourth quarter. Cresset Asset Management LLC now owns 42,509 shares of the aerospace company’s stock worth $11,038,000 after acquiring an additional 2,422 shares in the last quarter. Jacobi Capital Management LLC increased its stake in shares of General Dynamics by 4.1% during the 4th quarter. Jacobi Capital Management LLC now owns 6,670 shares of the aerospace company’s stock worth $1,732,000 after purchasing an additional 260 shares during the last quarter. Bontempo Ohly Capital Mgmt LLC raised its holdings in shares of General Dynamics by 2.7% during the 4th quarter. Bontempo Ohly Capital Mgmt LLC now owns 16,135 shares of the aerospace company’s stock valued at $4,190,000 after purchasing an additional 426 shares in the last quarter. Finally, Gladstone Capital Management LLP acquired a new stake in shares of General Dynamics in the 4th quarter valued at $3,869,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

About General Dynamics

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.