Brokerages Set General Dynamics Corporation (GD) PT at $217.44

Shares of General Dynamics Corporation (NYSE:GD) have been given a consensus recommendation of “Hold” by the seventeen research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $217.44.

GD has been the subject of a number of recent analyst reports. Cowen reaffirmed a “buy” rating and issued a $230.00 price objective on shares of General Dynamics in a research report on Thursday, October 19th. Jefferies Group reaffirmed a “buy” rating and issued a $236.00 price objective on shares of General Dynamics in a research report on Thursday, October 26th. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $238.00 price objective for the company in a research report on Thursday, October 26th. ValuEngine raised General Dynamics from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Royal Bank of Canada set a $239.00 price objective on General Dynamics and gave the company a “buy” rating in a research report on Wednesday, November 15th.

In other General Dynamics news, VP Gregory S. Gallopoulos sold 78,370 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $202.93, for a total transaction of $15,903,624.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Patrick Casey sold 34,945 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total value of $7,037,224.10. Following the transaction, the insider now owns 144,378 shares in the company, valued at approximately $29,074,841.64. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of GD. Park National Corp OH lifted its stake in shares of General Dynamics by 7.3% during the second quarter. Park National Corp OH now owns 42,752 shares of the aerospace company’s stock worth $8,469,000 after purchasing an additional 2,893 shares in the last quarter. Bath Savings Trust Co increased its position in shares of General Dynamics by 11.9% during the second quarter. Bath Savings Trust Co now owns 1,343 shares of the aerospace company’s stock worth $266,000 after acquiring an additional 143 shares during the last quarter. Centre Asset Management LLC increased its position in shares of General Dynamics by 3.5% during the second quarter. Centre Asset Management LLC now owns 29,740 shares of the aerospace company’s stock worth $5,891,000 after acquiring an additional 1,000 shares during the last quarter. Burns J W & Co. Inc. NY purchased a new stake in shares of General Dynamics during the second quarter worth about $202,000. Finally, Beacon Financial Group increased its position in shares of General Dynamics by 3.1% during the second quarter. Beacon Financial Group now owns 8,393 shares of the aerospace company’s stock worth $1,653,000 after acquiring an additional 250 shares during the last quarter. Institutional investors own 86.87% of the company’s stock.

Shares of General Dynamics (NYSE:GD) traded down $1.43 during trading hours on Friday, hitting $199.64. The stock had a trading volume of 804,185 shares, compared to its average volume of 1,149,249. The stock has a market capitalization of $60,036.07, a P/E ratio of 19.97, a P/E/G ratio of 2.41 and a beta of 0.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.93 and a current ratio of 1.37. General Dynamics has a twelve month low of $168.00 and a twelve month high of $214.81.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $2.52 EPS for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.09. The business had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $7.94 billion. General Dynamics had a return on equity of 27.98% and a net margin of 9.94%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.36 earnings per share. research analysts forecast that General Dynamics will post 9.81 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 19th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, January 18th. General Dynamics’s payout ratio is currently 33.50%.

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About General Dynamics

General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.

Analyst Recommendations for General Dynamics (NYSE:GD)

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