General Dynamics (NYSE:GD) Upgraded by Wall Street Zen to Strong-Buy Rating

Key Points

• General Dynamics was upgraded by Wall Street Zen from “buy” to “strong-buy”, adding to a mixed but generally positive analyst outlook with a consensus rating of Moderate Buy and an average price target of $388.20.
• The company recently reported strong quarterly results, posting EPS of $4.10 versus expectations of $3.67 and revenue of $13.48 billion versus estimates of $12.70 billion, with revenue up 10.3% year over year.
• Despite the upbeat fundamentals, the stock was down 0.4% in Friday trading, and recent insider filings showed executives selling shares while institutional investors continue to hold the vast majority of the stock.

General Dynamics (NYSE:GD - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Sunday.

A number of other equities research analysts also recently commented on GD. JPMorgan Chase & Co. upped their price objective on General Dynamics from $385.00 to $400.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. The Goldman Sachs Group reduced their price target on shares of General Dynamics from $327.00 to $313.00 and set a "sell" rating for the company in a report on Monday, May 4th. Argus boosted their target price on General Dynamics from $380.00 to $395.00 and gave the company a "buy" rating in a research note on Thursday, February 19th. Morgan Stanley increased their price objective on shares of General Dynamics from $410.00 to $435.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Finally, Wolfe Research lifted their price objective on shares of General Dynamics from $400.00 to $415.00 and gave the company an "outperform" rating in a research report on Monday, January 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, General Dynamics has an average rating of "Moderate Buy" and a consensus price target of $388.20.

General Dynamics Trading Down 0.4%

GD opened at $346.48 on Friday. 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 stock has a market capitalization of $93.70 billion, a PE ratio of 21.80, a PEG ratio of 2.15 and a beta of 0.34. The firm has a 50-day moving average price of $345.45 and a two-hundred day moving average price of $346.69. General Dynamics has a 1-year low of $267.39 and a 1-year high of $369.70.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data 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 firm 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%.The business's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.66 EPS. As a group, equities analysts anticipate that General Dynamics will post 16.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Mark Rayha sold 4,370 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $348.79, for a total transaction of $1,524,212.30. Following the sale, the vice president directly owned 7,936 shares of the company's stock, valued at approximately $2,767,997.44. This represents a 35.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 3,819 shares of the company's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $353.50, for a total transaction of $1,350,016.50. Following the sale, the executive vice president directly owned 44,767 shares of the company's stock, valued at $15,825,134.50. This represents a 7.86% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 51,260 shares of company stock valued at $18,133,971. 1.40% of the stock is owned by insiders.

Institutional Trading of General Dynamics

Several large investors have recently bought and sold shares of GD. PNC Financial Services Group Inc. grew its stake in shares of General Dynamics by 0.7% during the first quarter. PNC Financial Services Group Inc. now owns 200,080 shares of the aerospace company's stock worth $68,671,000 after buying an additional 1,426 shares during the last quarter. Wilkerson Advisory Group LLC increased its stake in shares of General Dynamics by 79.6% in the first quarter. Wilkerson Advisory Group LLC now owns 88 shares of the aerospace company's stock valued at $30,000 after buying an additional 39 shares during the period. Glenview Trust Co lifted its position in shares of General Dynamics by 3.6% in the 1st quarter. Glenview Trust Co now owns 11,557 shares of the aerospace company's stock worth $3,967,000 after purchasing an additional 398 shares during the period. Summit Global Investments lifted its holdings in General Dynamics by 249.8% in the first quarter. Summit Global Investments now owns 4,302 shares of the aerospace company's stock valued at $1,477,000 after buying an additional 3,072 shares during the period. Finally, Earned Wealth Advisors LLC lifted its stake in shares of General Dynamics by 3.5% in the 1st quarter. Earned Wealth Advisors LLC now owns 1,539 shares of the aerospace company's stock valued at $528,000 after purchasing an additional 52 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

About General Dynamics

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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