General Dynamics (NYSE:GD) Price Target Raised to $330.00

General Dynamics (NYSE:GD) had its target price hoisted by Royal Bank of Canada from $320.00 to $330.00 in a research note published on Thursday, Benzinga reports. They currently have an outperform rating on the aerospace company’s stock.

A number of other equities research analysts have also recently commented on GD. Citigroup increased their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. 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 objective for the company. Barclays upped their target price on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Susquehanna raised their price target on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $323.88.

General Dynamics Trading Up 0.4 %

Shares of General Dynamics stock opened at $302.52 on Thursday. The company has a 50-day moving average of $300.40 and a two-hundred day moving average of $294.71. 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 company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. General Dynamics has a 12-month low of $236.58 and a 12-month high of $313.11.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.04 earnings per share. On average, research analysts anticipate that General Dynamics will post 14.27 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a yield of 1.88%. General Dynamics’s payout ratio is 44.31%.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction 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 transaction, the director now owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On General Dynamics

A number of large investors have recently modified their holdings of the company. Financial Advocates Investment Management acquired a new stake in General Dynamics during the 3rd quarter worth approximately $215,000. 1620 Investment Advisors Inc. grew its stake in General Dynamics by 79.3% during the third quarter. 1620 Investment Advisors Inc. now owns 2,238 shares of the aerospace company’s stock worth $676,000 after buying an additional 990 shares during the period. SteelPeak Wealth LLC acquired a new stake in shares of General Dynamics in the third quarter worth $337,000. First Trust Direct Indexing L.P. raised its stake in shares of General Dynamics by 7.2% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 8,646 shares of the aerospace company’s stock valued at $2,613,000 after acquiring an additional 581 shares during the period. Finally, Golden State Equity Partners lifted its holdings in shares of General Dynamics by 31.8% during the 3rd quarter. Golden State Equity Partners now owns 5,618 shares of the aerospace company’s stock valued at $1,698,000 after acquiring an additional 1,356 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

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.