General Dynamics Corporation (NYSE:GD) Receives Average Recommendation of "Hold" from Analysts

Shares of General Dynamics Corporation (NYSE:GD - Get Free Report) have been given a consensus rating of "Hold" by the twenty-two analysts that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $293.00.

A number of brokerages have recently weighed in on GD. Susquehanna increased their price target on General Dynamics from $300.00 to $315.00 and gave the stock a "positive" rating in a research report on Wednesday, April 2nd. Citigroup dropped their target price on General Dynamics from $335.00 to $330.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. TD Securities boosted 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. UBS Group upped their price target on shares of General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Finally, Wells Fargo & Company cut their price objective on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th.

Insider Buying and Selling at General Dynamics

In other news, CEO Phebe N. Novakovic sold 178,821 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 769,607 shares of the company's stock, valued at $217,898,829.91. This represents a 18.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On General Dynamics

Several hedge funds have recently added to or reduced their stakes in the stock. Hickory Point Bank & Trust acquired a new stake in General Dynamics during the 4th quarter worth $692,000. Atlas Legacy Advisors LLC bought a new stake in shares of General Dynamics in the fourth quarter worth about $550,000. Jones Financial Companies Lllp raised its position in shares of General Dynamics by 45.4% during the fourth quarter. Jones Financial Companies Lllp now owns 80,565 shares of the aerospace company's stock worth $21,228,000 after purchasing an additional 25,144 shares during the period. U S Global Investors Inc. lifted its holdings in shares of General Dynamics by 18.6% during the 4th quarter. U S Global Investors Inc. now owns 79,450 shares of the aerospace company's stock valued at $20,934,000 after purchasing an additional 12,453 shares in the last quarter. Finally, Renasant Bank grew its position in shares of General Dynamics by 46.8% in the 4th quarter. Renasant Bank now owns 3,258 shares of the aerospace company's stock valued at $858,000 after purchasing an additional 1,038 shares during the period. Institutional investors and hedge funds own 86.14% of the company's stock.

General Dynamics Price Performance

GD stock opened at $278.35 on Thursday. The stock has a 50-day simple moving average of $275.42 and a 200-day simple moving average of $266.56. The firm has a market cap of $74.71 billion, a P/E ratio of 19.30, a price-to-earnings-growth ratio of 1.89 and a beta of 0.46. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34. General Dynamics has a 1 year low of $239.20 and a 1 year high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.43 by $0.23. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 billion. During the same period in the previous year, the company earned $2.88 earnings per share. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. On average, equities analysts predict that General Dynamics will post 14.83 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a dividend of $1.50 per share. The ex-dividend date is Thursday, July 3rd. This represents a $6.00 dividend on an annualized basis and a yield of 2.16%. General Dynamics's dividend payout ratio (DPR) is presently 41.61%.

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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