Citigroup Has Lowered Expectations for General Dynamics (NYSE:GD) Stock Price

Key Points

• Citigroup lowered its price target on General Dynamics from $380 to $364 while keeping a neutral rating, implying about 7.6% upside from the prior close.
• Analyst sentiment remains mixed but generally positive, with the stock carrying a consensus “Moderate Buy” rating and an average target price of $387.40 across coverage.
• General Dynamics beat earnings expectations in its latest quarter, reporting EPS of $4.10 versus $3.67 expected and revenue of $13.48 billion, up 10.3% year over year.

General Dynamics (NYSE:GD - Get Free Report) had its target price reduced by stock analysts at Citigroup from $380.00 to $364.00 in a research note issued on Monday,MarketScreener reports. The firm currently has a "neutral" rating on the aerospace company's stock. Citigroup's target price would indicate a potential upside of 7.62% from the stock's previous close.

GD has been the topic of several other reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Dynamics from $387.00 to $377.00 and set a "hold" rating on the stock in a research report on Wednesday, May 6th. Morgan Stanley lifted their price target on General Dynamics from $410.00 to $435.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of General Dynamics in a research note on Tuesday, April 21st. JPMorgan Chase & Co. increased their price target on General Dynamics from $385.00 to $400.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. Finally, Jefferies Financial Group cut their target price on shares of General Dynamics from $385.00 to $380.00 and set a "hold" rating for the company in a research note on Tuesday, April 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $387.40.

General Dynamics Stock Up 1.1%

Shares of GD stock traded up $3.74 during trading on Monday, reaching $338.24. The company's stock had a trading volume of 16,418 shares, compared to its average volume of 1,419,914. The business has a fifty day moving average price of $343.59 and a 200-day moving average price of $346.63. General Dynamics has a one year low of $268.10 and a one year high of $369.70. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. The company has a market cap of $91.47 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 2.07 and a beta of 0.34.

General Dynamics (NYSE:GD - Get Free Report) last released its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.67 by $0.43. The business had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $12.70 billion. General Dynamics had a return on equity of 17.41% and a net margin of 8.07%.General Dynamics's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.66 earnings per share. Analysts anticipate that General Dynamics will post 16.62 earnings per share for the current year.

Insider Activity at General Dynamics

In other General Dynamics news, EVP Marguerite Amy Gilliland sold 3,819 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $353.50, for a total value of $1,350,016.50. Following the sale, the executive vice president owned 44,767 shares of the company's stock, valued at $15,825,134.50. This trade represents a 7.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Phebe N. Novakovic sold 32,918 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $354.09, for a total transaction of $11,655,934.62. Following the completion of the sale, the chief executive officer directly owned 766,457 shares in the company, valued at approximately $271,394,759.13. This trade represents a 4.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 119,600 shares of company stock worth $41,650,580. Corporate insiders own 1.40% of the company's stock.

Institutional Trading of General Dynamics

A number of institutional investors have recently bought and sold shares of the business. WASHINGTON TRUST Co increased its holdings in shares of General Dynamics by 453.3% in the third quarter. WASHINGTON TRUST Co now owns 9,418 shares of the aerospace company's stock valued at $3,212,000 after purchasing an additional 7,716 shares during the period. Rockland Trust Co. grew its stake in General Dynamics by 703.4% in the 3rd quarter. Rockland Trust Co. now owns 10,548 shares of the aerospace company's stock valued at $3,597,000 after acquiring an additional 9,235 shares during the last quarter. Vanguard Group Inc. increased its holdings in General Dynamics by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 24,767,330 shares of the aerospace company's stock valued at $8,338,169,000 after acquiring an additional 528,769 shares in the last quarter. Envestnet Asset Management Inc. raised its position in General Dynamics by 3.6% during the third quarter. Envestnet Asset Management Inc. now owns 917,424 shares of the aerospace company's stock worth $312,842,000 after acquiring an additional 32,262 shares during the last quarter. Finally, Modern Wealth Management LLC lifted its holdings in shares of General Dynamics by 114.7% in the third quarter. Modern Wealth Management LLC now owns 6,124 shares of the aerospace company's stock valued at $2,088,000 after purchasing an additional 3,271 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Company Profile

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.

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