Morgan Stanley Lowers General Dynamics (GD) Price Target to $217.00

General Dynamics (NYSE:GD) had its price objective cut by Morgan Stanley from $225.00 to $217.00 in a research note published on Thursday. They currently have an underweight rating on the aerospace company’s stock.

GD has been the topic of several other reports. Cowen reiterated a buy rating and issued a $253.00 price target on shares of General Dynamics in a research note on Monday, April 9th. ValuEngine upgraded shares of General Dynamics from a hold rating to a buy rating in a research note on Thursday, March 1st. Zacks Investment Research upgraded shares of General Dynamics from a hold rating to a buy rating and set a $234.00 price target on the stock in a research note on Friday, January 19th. Jefferies Group reiterated a buy rating and issued a $237.00 price target on shares of General Dynamics in a research note on Monday, January 8th. Finally, Royal Bank of Canada lifted their price target on shares of General Dynamics to $267.00 and gave the company an outperform rating in a research note on Tuesday, February 20th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $239.04.

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GD opened at $218.41 on Thursday. The firm has a market capitalization of $64,796.85, a P/E ratio of 21.95, a P/E/G ratio of 2.32 and a beta of 0.83. General Dynamics has a 12 month low of $186.87 and a 12 month high of $230.00. The company has a current ratio of 1.40, a quick ratio of 0.99 and a debt-to-equity ratio of 0.35.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, January 24th. The aerospace company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.37 by $0.13. General Dynamics had a net margin of 9.40% and a return on equity of 27.22%. The business had revenue of $8.28 billion for the quarter, compared to analysts’ expectations of $8.40 billion. During the same period in the previous year, the firm posted $1.89 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. equities analysts forecast that General Dynamics will post 11.07 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Stockholders of record on Friday, April 13th will be paid a dividend of $0.93 per share. The ex-dividend date is Thursday, April 12th. This is a positive change from General Dynamics’s previous quarterly dividend of $0.84. This represents a $3.72 annualized dividend and a dividend yield of 1.70%. General Dynamics’s payout ratio is currently 37.39%.

In related news, VP Gary L. Whited sold 5,977 shares of General Dynamics stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $224.52, for a total transaction of $1,341,956.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John M. Keane sold 1,800 shares of General Dynamics stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $216.43, for a total transaction of $389,574.00. The disclosure for this sale can be found here. Insiders have sold a total of 30,357 shares of company stock worth $6,715,463 over the last 90 days. 6.70% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Ontario Teachers Pension Plan Board boosted its holdings in shares of General Dynamics by 3.1% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 51,028 shares of the aerospace company’s stock worth $10,382,000 after buying an additional 1,536 shares during the period. Captrust Financial Advisors bought a new stake in shares of General Dynamics during the 4th quarter worth about $165,000. JT Stratford LLC boosted its holdings in shares of General Dynamics by 3.1% during the 4th quarter. JT Stratford LLC now owns 14,214 shares of the aerospace company’s stock worth $2,892,000 after buying an additional 421 shares during the period. IFG Advisory LLC bought a new stake in shares of General Dynamics during the 4th quarter worth about $543,000. Finally, LPL Financial LLC boosted its holdings in shares of General Dynamics by 8.2% during the 4th quarter. LPL Financial LLC now owns 74,092 shares of the aerospace company’s stock worth $15,074,000 after buying an additional 5,631 shares during the period. 86.09% of the stock is owned by institutional investors and hedge funds.

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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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