Shares of General Dynamics Corporation (NYSE:GD - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, thirteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $391.15.
GD has been the subject of a number of research reports. DA Davidson lowered their target price on General Dynamics from $384.00 to $375.00 in a research note on Thursday, April 30th. Jefferies Financial Group lifted their price target on shares of General Dynamics from $400.00 to $440.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. Citigroup reduced their price target on shares of General Dynamics from $380.00 to $364.00 and set a "neutral" rating for the company in a report on Monday, May 18th. Bank of America lifted their price target on General Dynamics from $400.00 to $415.00 and gave the company a "buy" rating in a research note on Monday, July 6th. Finally, Wall Street Zen raised General Dynamics from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 13th.
Get Our Latest Stock Analysis on GD
Insider Buying and Selling
In other news, EVP Mark Lagrand Burns sold 36,480 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the completion of the transaction, the executive vice president directly owned 38,975 shares of the company's stock, valued at $13,457,677.75. This trade represents a 48.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Malcolm sold 5,480 shares of General Dynamics stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $365.00, for a total transaction of $2,000,200.00. Following the completion of the sale, the director owned 10,643 shares in the company, valued at $3,884,695. This trade represents a 33.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 78,190 shares of company stock valued at $27,041,022. Insiders own 1.40% of the company's stock.
Hedge Funds Weigh In On General Dynamics
Large investors have recently modified their holdings of the business. Whipplewood Advisors LLC boosted its position in General Dynamics by 1,725.0% during the first quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company's stock valued at $25,000 after purchasing an additional 69 shares during the last quarter. Steph & Co. grew its stake in General Dynamics by 65.2% in the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 30 shares in the last quarter. Scarborough Advisors LLC acquired a new position in shares of General Dynamics during the 1st quarter worth approximately $29,000. Wilkerson Advisory Group LLC raised its stake in shares of General Dynamics by 79.6% during the 1st quarter. Wilkerson Advisory Group LLC now owns 88 shares of the aerospace company's stock worth $30,000 after purchasing an additional 39 shares in the last quarter. Finally, Center for Financial Planning Inc. raised its stake in shares of General Dynamics by 220.7% during the 4th quarter. Center for Financial Planning Inc. now owns 93 shares of the aerospace company's stock worth $31,000 after purchasing an additional 64 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.
General Dynamics News Roundup
Here are the key news stories impacting General Dynamics this week:
General Dynamics Stock Performance
GD stock opened at $380.99 on Friday. The business's 50-day moving average price is $355.14 and its two-hundred day moving average price is $351.52. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24. The firm has a market cap of $103.03 billion, a PE ratio of 23.98, a P/E/G ratio of 2.25 and a beta of 0.34. General Dynamics has a 1-year low of $306.03 and a 1-year high of $387.69.
General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.43. The company had revenue of $13.48 billion during 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%.The company's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.66 earnings per share. As a group, research analysts forecast that General Dynamics will post 16.66 earnings per share for the current year.
General Dynamics Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Thursday, July 2nd will be paid a $1.59 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $6.36 annualized dividend and a yield of 1.7%. General Dynamics's payout ratio is presently 40.03%.
General Dynamics Company Profile
(
Get Free Report)
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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