Citigroup Boosts General Dynamics (NYSE:GD) Price Target to $368.00

General Dynamics (NYSE:GD - Get Free Report) had its price objective increased by investment analysts at Citigroup from $348.00 to $368.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the aerospace company's stock. Citigroup's target price would indicate a potential upside of 16.28% from the company's current price.

A number of other brokerages have also recently issued reports on GD. Morgan Stanley decreased their price objective on shares of General Dynamics from $305.00 to $300.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. Argus set a $295.00 price target on shares of General Dynamics in a report on Tuesday, May 6th. TD Securities upped their price target on shares of General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Sanford C. Bernstein set a $314.00 price objective on shares of General Dynamics and gave the stock a "market perform" rating in a research report on Monday, July 14th. Finally, Cowen reissued a "buy" rating on shares of General Dynamics in a research report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, General Dynamics currently has a consensus rating of "Hold" and an average price target of $309.17.

General Dynamics Stock Performance

NYSE GD traded down $0.45 during midday trading on Thursday, hitting $316.49. The company had a trading volume of 671,072 shares, compared to its average volume of 1,492,989. The company has a quick ratio of 0.82, a current ratio of 1.34 and a debt-to-equity ratio of 0.33. The stock has a market cap of $84.95 billion, a price-to-earnings ratio of 21.95, a P/E/G ratio of 1.98 and a beta of 0.46. The firm has a fifty day simple moving average of $286.29 and a two-hundred day simple moving average of $271.39. General Dynamics has a fifty-two week low of $239.20 and a fifty-two week high of $322.50.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The aerospace company reported $3.74 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.27. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The business had revenue of $13.04 billion for the quarter, compared to analyst estimates of $12.13 billion. During the same period in the previous year, the business earned $3.26 EPS. The firm's revenue was up 8.9% on a year-over-year basis. Equities analysts forecast that General Dynamics will post 14.83 earnings per share for the current fiscal year.

Insider Activity at General Dynamics

In other news, CEO Phebe N. Novakovic sold 7,639 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $280.44, for a total transaction of $2,142,281.16. Following the completion of the sale, the chief executive officer owned 769,607 shares of the company's stock, valued at $215,828,587.08. This trade represents a 0.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On General Dynamics

A number of hedge funds have recently bought and sold shares of the company. Salvus Wealth Management LLC increased its holdings in shares of General Dynamics by 2.9% during the second quarter. Salvus Wealth Management LLC now owns 1,274 shares of the aerospace company's stock valued at $372,000 after acquiring an additional 36 shares in the last quarter. Principal Securities Inc. increased its holdings in shares of General Dynamics by 0.5% during the first quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company's stock valued at $2,161,000 after acquiring an additional 37 shares in the last quarter. Sharpepoint LLC increased its holdings in General Dynamics by 4.2% in the 1st quarter. Sharpepoint LLC now owns 917 shares of the aerospace company's stock worth $249,000 after buying an additional 37 shares in the last quarter. United Asset Strategies Inc. increased its holdings in General Dynamics by 1.2% in the 1st quarter. United Asset Strategies Inc. now owns 3,140 shares of the aerospace company's stock worth $856,000 after buying an additional 37 shares in the last quarter. Finally, Southland Equity Partners LLC increased its holdings in General Dynamics by 3.2% in the 2nd quarter. Southland Equity Partners LLC now owns 1,185 shares of the aerospace company's stock worth $346,000 after buying an additional 37 shares in the last quarter. 86.14% of the stock is 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.

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