TD Cowen Issues Positive Forecast for General Dynamics (NYSE:GD) Stock Price

General Dynamics (NYSE:GD - Get Free Report) had its target price increased by analysts at TD Cowen from $290.00 to $300.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the aerospace company's stock. TD Cowen's price objective indicates a potential upside of 5.16% from the stock's previous close.

Several other analysts also recently commented on GD. Susquehanna upped their price target on shares of General Dynamics from $300.00 to $315.00 and gave the company a "positive" rating in a research report on Wednesday, April 2nd. Morgan Stanley dropped their price objective on shares of General Dynamics from $305.00 to $300.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. TD Securities increased 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. UBS Group raised their price target on General Dynamics from $268.00 to $279.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Finally, Citigroup reduced their price objective on General Dynamics from $335.00 to $330.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $293.28.

General Dynamics Stock Performance

Shares of GD stock traded up $4.22 during mid-day trading on Wednesday, hitting $285.27. 277,147 shares of the stock were exchanged, compared to its average volume of 1,384,561. The stock's fifty day simple moving average is $275.74 and its two-hundred day simple moving average is $266.63. 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 12-month low of $239.20 and a 12-month high of $316.90. The stock has a market capitalization of $76.57 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 1.90 and a beta of 0.46.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly 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 firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.92 billion. During the same quarter last year, the business posted $2.88 EPS. The firm's quarterly revenue was up 13.9% compared to the same quarter last year. On average, analysts forecast that General Dynamics will post 14.83 EPS for the current year.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 178,821 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $283.13, for a total value of $50,629,589.73. Following the sale, the chief executive officer now directly owns 769,607 shares of the company's stock, valued at approximately $217,898,829.91. This represents a 18.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of General Dynamics

Large investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in General Dynamics by 34,578.2% in the 1st quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company's stock valued at $339,253,000 after buying an additional 1,241,011 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in shares of General Dynamics in the fourth quarter valued at $279,582,000. Nuveen LLC purchased a new stake in shares of General Dynamics in the first quarter valued at $272,464,000. Raymond James Financial Inc. purchased a new stake in General Dynamics during the 4th quarter worth about $197,238,000. Finally, Ameriprise Financial Inc. raised its stake in General Dynamics by 34.8% in the 1st quarter. Ameriprise Financial Inc. now owns 2,748,380 shares of the aerospace company's stock valued at $749,252,000 after purchasing an additional 709,782 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

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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