General Dynamics (NYSE:GD) PT Raised to $354.00 at Citigroup

General Dynamics (NYSE:GD) had its price objective lifted by Citigroup from $331.00 to $354.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Citigroup’s price target indicates a potential upside of 18.22% from the company’s previous close.

GD has been the topic of several other research reports. Barclays increased their target price on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Robert W. Baird restated an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, Wells Fargo & Company cut General Dynamics from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $334.00 to $317.00 in a report on Tuesday, October 1st. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $319.06.

General Dynamics Stock Performance

Shares of NYSE:GD opened at $299.44 on Thursday. The business’s fifty day moving average price is $297.70 and its two-hundred day moving average price is $293.52. General Dynamics has a fifty-two week low of $232.29 and a fifty-two week high of $309.97. The stock has a market capitalization of $82.28 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 1.67 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 results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter last year, the company earned $2.70 earnings per share. The business’s revenue was up 18.0% on a year-over-year basis. As a group, analysts predict that General Dynamics will post 14.38 EPS for the current fiscal year.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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. Massachusetts Financial Services Co. MA grew its position in shares of General Dynamics by 4.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after purchasing an additional 293,316 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of General Dynamics by 2.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after purchasing an additional 115,063 shares during the period. Ameriprise Financial Inc. grew its position in shares of General Dynamics by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock valued at $601,756,000 after purchasing an additional 47,915 shares during the period. Boston Partners grew its position in shares of General Dynamics by 1.4% in the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after purchasing an additional 23,262 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of General Dynamics by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock valued at $466,049,000 after purchasing an additional 23,304 shares during the period. 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.