Citigroup Forecasts Strong Price Appreciation for General Dynamics (NYSE:GD) Stock

General Dynamics (NYSE:GD - Get Free Report) had its price target boosted by analysts at Citigroup from $330.00 to $348.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the aerospace company's stock. Citigroup's target price indicates a potential upside of 14.20% from the company's current price.

Several other equities analysts have also recently commented on GD. TD Securities raised their price target on shares of General Dynamics from $275.00 to $290.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Argus set a $295.00 target price on General Dynamics in a report on Tuesday, May 6th. Wells Fargo & Company cut their price target on General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley reduced their price target on General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. Finally, TD Cowen upped their target price on shares of General Dynamics from $290.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $295.53.

General Dynamics Trading Up 0.8%

General Dynamics stock traded up $2.54 during trading on Monday, hitting $304.74. The company had a trading volume of 448,401 shares, compared to its average volume of 1,397,243. The stock has a market cap of $81.79 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The company has a current ratio of 1.34, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. General Dynamics has a 1-year low of $239.20 and a 1-year high of $316.90. The company's 50 day simple moving average is $281.48 and its 200-day simple moving average is $269.33.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.23. The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The company's quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.88 EPS. As a group, analysts expect that General Dynamics will post 14.83 EPS for the current fiscal year.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 178,821 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $283.13, for a total transaction of $50,629,589.73. Following the completion of the transaction, the chief executive officer owned 769,607 shares in the company, valued at $217,898,829.91. The trade was a 18.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.50% of the company's stock.

Institutional Trading of General Dynamics

Several hedge funds have recently added to or reduced their stakes in GD. Principal Securities Inc. raised its holdings in shares of General Dynamics by 0.5% in the 1st quarter. Principal Securities Inc. now owns 8,203 shares of the aerospace company's stock worth $2,161,000 after purchasing an additional 37 shares in the last quarter. Sharpepoint LLC lifted its stake in General Dynamics by 4.2% during the first quarter. Sharpepoint LLC now owns 917 shares of the aerospace company's stock valued at $249,000 after buying an additional 37 shares in the last quarter. United Asset Strategies Inc. raised its holdings in shares of General Dynamics by 1.2% during the first quarter. United Asset Strategies Inc. now owns 3,140 shares of the aerospace company's stock valued at $856,000 after acquiring an additional 37 shares during the period. Southland Equity Partners LLC boosted its stake 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 purchasing an additional 37 shares during the period. Finally, 1858 Wealth Management LLC raised its stake in General Dynamics by 1.2% during the 1st quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company's stock valued at $879,000 after purchasing an additional 38 shares during the period. 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.

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