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

Shares of General Dynamics Corporation (NYSE:GD - Get Free Report) have earned an average recommendation of "Hold" from the twenty-two brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $294.47.

Several brokerages have recently commented on GD. Jefferies Financial Group set a $325.00 price objective on shares of General Dynamics and gave the stock a "hold" rating in a report on Wednesday. Wells Fargo & Company cut their target price on shares of General Dynamics from $261.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. TD Securities upped their target price on shares of General Dynamics from $275.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Argus set a $295.00 target price on shares of General Dynamics in a research note on Tuesday, May 6th. Finally, Cowen reaffirmed a "buy" rating on shares of General Dynamics in a research note on Wednesday, June 25th.

General Dynamics Stock Performance

NYSE:GD opened at $302.20 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.34 and a quick ratio of 0.82. The firm has a market capitalization of $81.11 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 2.01 and a beta of 0.46. The company's 50-day moving average is $281.48 and its two-hundred day moving average is $269.33. 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 posted its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.23. General Dynamics had a net margin of 8.08% and a return on equity of 17.82%. The company 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 business posted $2.88 EPS. General Dynamics's revenue was up 13.9% on a year-over-year basis. Analysts forecast that General Dynamics will post 14.83 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, July 3rd. General Dynamics's dividend payout ratio (DPR) is 41.61%.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 7,639 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $280.44, for a total value of $2,142,281.16. Following the completion of the sale, the chief executive officer owned 769,607 shares in the company, valued at $215,828,587.08. This trade represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On General Dynamics

Several hedge funds have recently added to or reduced their stakes in the business. Principal Securities Inc. increased its holdings in General Dynamics by 0.5% during the 1st 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% during the 1st quarter. Sharpepoint LLC now owns 917 shares of the aerospace company's stock valued at $249,000 after acquiring an additional 37 shares in the last quarter. United Asset Strategies Inc. grew 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 worth $856,000 after buying an additional 37 shares in the last quarter. 1858 Wealth Management LLC raised its position in shares of General Dynamics by 1.2% in the first quarter. 1858 Wealth Management LLC now owns 3,224 shares of the aerospace company's stock valued at $879,000 after buying an additional 38 shares during the last quarter. Finally, Keystone Financial Services raised its position in shares of General Dynamics by 1.6% in the first quarter. Keystone Financial Services now owns 2,421 shares of the aerospace company's stock valued at $660,000 after buying an additional 38 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.