General Dynamics (NYSE:GD) Sets New 1-Year High at $299.58

Shares of General Dynamics Co. (NYSE:GD - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $299.58 and last traded at $299.01, with a volume of 38973 shares. The stock had previously closed at $299.02.

Analysts Set New Price Targets

Several research firms have weighed in on GD. Susquehanna boosted their target price on shares of General Dynamics from $301.00 to $333.00 and gave the company a "positive" rating in a report on Friday, April 12th. The Goldman Sachs Group upped their price target on General Dynamics from $253.00 to $284.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 16th. Argus upped their price target on shares of General Dynamics from $290.00 to $310.00 and gave the company a "buy" rating in a research report on Monday, April 29th. UBS Group upped their price objective on General Dynamics from $286.00 to $296.00 and gave the company a "neutral" rating in a research note on Monday, January 29th. Finally, Alembic Global Advisors lowered shares of General Dynamics from an "overweight" rating to a "neutral" rating and set a $296.00 target price on the stock. in a research report on Monday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $300.53.

General Dynamics Price Performance

The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41. The company's 50-day moving average price is $286.74 and its two-hundred day moving average price is $267.66. The company has a market cap of $82.40 billion, a P/E ratio of 24.51, a P/E/G ratio of 1.86 and a beta of 0.67.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing analysts' consensus estimates of $2.89 by ($0.01). The company had revenue of $10.73 billion during the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business's revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.64 earnings per share. As a group, sell-side analysts expect that General Dynamics Co. will post 14.55 earnings per share for the current year.

General Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, April 12th were issued a dividend of $1.42 per share. This is a boost from General Dynamics's previous quarterly dividend of $1.32. The ex-dividend date was Thursday, April 11th. This represents a $5.68 annualized dividend and a yield of 1.89%. General Dynamics's payout ratio is presently 46.33%.

Insiders Place Their Bets

In related news, VP William A. Moss sold 21,050 shares of the firm's stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $294.85, for a total value of $6,206,592.50. Following the completion of the transaction, the vice president now owns 16,624 shares of the company's stock, valued at approximately $4,901,586.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other General Dynamics news, VP William A. Moss sold 21,050 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $294.85, for a total value of $6,206,592.50. Following the transaction, the vice president now directly owns 16,624 shares in the company, valued at approximately $4,901,586.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gregory S. Gallopoulos sold 13,567 shares of the company's stock in a transaction on Monday, April 29th. The shares were sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the completion of the sale, the vice president now owns 103,345 shares of the company's stock, valued at approximately $29,816,065.95. The disclosure for this sale can be found here. Insiders sold 93,053 shares of company stock worth $26,827,518 over the last ninety days. Company insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On General Dynamics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. increased its position in General Dynamics by 7.0% during the third quarter. Cullen Frost Bankers Inc. now owns 4,601 shares of the aerospace company's stock worth $1,017,000 after acquiring an additional 303 shares during the period. Capital Investment Advisory Services LLC raised its stake in General Dynamics by 59.0% in the third quarter. Capital Investment Advisory Services LLC now owns 2,014 shares of the aerospace company's stock valued at $445,000 after purchasing an additional 747 shares in the last quarter. Principal Financial Group Inc. lifted its position in General Dynamics by 0.3% during the third quarter. Principal Financial Group Inc. now owns 249,690 shares of the aerospace company's stock worth $55,174,000 after purchasing an additional 698 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in General Dynamics by 12.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,529 shares of the aerospace company's stock worth $1,001,000 after buying an additional 497 shares in the last quarter. Finally, Commons Capital LLC increased its holdings in General Dynamics by 3.5% in the 3rd quarter. Commons Capital LLC now owns 2,675 shares of the aerospace company's stock valued at $591,000 after buying an additional 91 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

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.