Brokerages Set General Dynamics Co. (NYSE:GD) Price Target at $323.69

Shares of General Dynamics Co. (NYSE:GD) have received a consensus rating of “Moderate Buy” from the eighteen research firms that are covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $323.69.

GD has been the subject of several research reports. Sanford C. Bernstein reduced their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company increased their price target on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Royal Bank of Canada boosted their price target on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th.

Insider Buying and Selling at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were 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 of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Olstein Capital Management L.P. grew its holdings in shares of General Dynamics by 36.4% in the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock worth $4,533,000 after purchasing an additional 4,000 shares during the last quarter. CWC Advisors LLC. purchased a new stake in shares of General Dynamics in the 3rd quarter worth $771,000. Kingsview Wealth Management LLC increased its stake in shares of General Dynamics by 87.6% during the first quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock valued at $4,150,000 after buying an additional 6,858 shares during the period. Clearbridge Investments LLC bought a new position in General Dynamics during the 1st quarter worth about $493,000. Finally, Peak Financial Advisors LLC purchased a new position in General Dynamics during the 3rd quarter valued at about $3,022,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

NYSE GD opened at $309.58 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $301.62 and a 200 day simple moving average of $295.58. General Dynamics has a 12-month low of $238.31 and a 12-month high of $313.11. The company has a market cap of $85.13 billion, a P/E ratio of 23.58, a PEG ratio of 1.78 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. General Dynamics’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.04 EPS. Sell-side analysts predict that General Dynamics will post 13.97 earnings per share for the current fiscal year.

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.