General Dynamics (NYSE:GD) PT Raised to $322.00

General Dynamics (NYSE:GD) had its target price increased by Wells Fargo & Company from $317.00 to $322.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the aerospace company’s stock.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, BTIG Research initiated coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target for the company. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.88.

General Dynamics Stock Performance

Shares of NYSE GD opened at $302.52 on Thursday. The stock has a market cap 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 firm has a fifty day moving average price of $300.40 and a 200-day moving average price of $294.74. General Dynamics has a 1 year low of $236.58 and a 1 year high of $313.11. 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 issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. During the same period in the previous year, the business earned $3.04 earnings per share. The business’s quarterly revenue was up 10.4% on a year-over-year basis. Equities analysts anticipate that General Dynamics will post 14.27 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.88%. General Dynamics’s payout ratio is presently 44.31%.

Insider Transactions at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction that occurred on 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 owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Redmont Wealth Advisors LLC bought a new position in shares of General Dynamics during the 1st quarter worth approximately $25,000. MFA Wealth Advisors LLC raised its stake in shares of General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 58 shares in the last quarter. New Covenant Trust Company N.A. bought a new position in shares of General Dynamics during the 1st quarter worth approximately $29,000. American Capital Advisory LLC bought a new position in shares of General Dynamics during the 2nd quarter worth approximately $29,000. Finally, Lowe Wealth Advisors LLC bought a new position in shares of General Dynamics during the 3rd quarter worth approximately $30,000. 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.