General Dynamics Corp. (GD) Receives “Hold” Rating from Deutsche Bank AG
A number of other analysts also recently issued reports on GD. Jefferies Group reaffirmed a buy rating on shares of General Dynamics Corp. in a report on Sunday, July 3rd. Zacks Investment Research raised shares of General Dynamics Corp. from a hold rating to a buy rating and set a $159.00 price target for the company in a research note on Monday, July 18th. Argus boosted their price target on shares of General Dynamics Corp. from $160.00 to $165.00 and gave the stock a buy rating in a research note on Tuesday, August 2nd. Sanford C. Bernstein raised shares of General Dynamics Corp. from a market perform rating to an outperform rating and set a $180.00 price target for the company in a research note on Wednesday, August 10th. They noted that the move was a valuation call. Finally, Citigroup Inc. boosted their price target on shares of General Dynamics Corp. from $162.00 to $185.00 and gave the stock a buy rating in a research note on Tuesday, September 6th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $159.66.
General Dynamics Corp. (NYSE:GD) traded up 0.34% during midday trading on Tuesday, reaching $152.39. The company’s stock had a trading volume of 137,189 shares. The stock has a 50-day moving average price of $152.70 and a 200 day moving average price of $145.00. General Dynamics Corp. has a 12 month low of $121.61 and a 12 month high of $156.97. The company has a market cap of $46.40 billion, a PE ratio of 16.21 and a beta of 0.76.
General Dynamics Corp. (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.13. General Dynamics Corp. had a net margin of 9.53% and a return on equity of 27.74%. The company earned $7.66 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same period in the previous year, the firm posted $2.27 EPS. The firm’s revenue was down 2.8% compared to the same quarter last year. Analysts expect that General Dynamics Corp. will post $9.73 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Wednesday, October 5th. General Dynamics Corp.’s payout ratio is currently 32.27%.
In other news, insider John Patrick Casey sold 57,490 shares of General Dynamics Corp. stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $146.96, for a total value of $8,448,730.40. Following the transaction, the insider now owns 165,118 shares of the company’s stock, valued at approximately $24,265,741.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider S. Daniel Johnson sold 33,650 shares of General Dynamics Corp. stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $147.91, for a total transaction of $4,977,171.50. Following the completion of the transaction, the insider now directly owns 107,922 shares in the company, valued at approximately $15,962,743.02. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Central Bank & Trust Co. increased its position in shares of General Dynamics Corp. by 6.7% in the third quarter. Central Bank & Trust Co. now owns 651 shares of the company’s stock worth $101,000 after buying an additional 41 shares during the last quarter. WFG Advisors LP boosted its stake in General Dynamics Corp. by 0.3% in the second quarter. WFG Advisors LP now owns 753 shares of the company’s stock worth $105,000 after buying an additional 2 shares during the period. Signaturefd LLC boosted its stake in General Dynamics Corp. by 5.7% in the second quarter. Signaturefd LLC now owns 818 shares of the company’s stock worth $114,000 after buying an additional 44 shares during the period. Compagnie Lombard Odier SCmA boosted its stake in General Dynamics Corp. by 820.0% in the second quarter. Compagnie Lombard Odier SCmA now owns 920 shares of the company’s stock worth $128,000 after buying an additional 820 shares during the period. Finally, Bellwether Investment Group LLC bought a new stake in General Dynamics Corp. during the second quarter worth approximately $136,000. 87.68% of the stock is currently owned by hedge funds and other institutional investors.
About General Dynamics Corp.
General Dynamics Corporation is an aerospace and defense company that offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions and information technology (IT) services, and shipbuilding.
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