General Dynamics Corp. (NYSE:GD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $191.00 price target on the stock. Zacks Investment Research’s price objective indicates a potential upside of 12.23% from the stock’s previous close.

According to Zacks, “General Dynamics is one of the only two contractors in the world equipped to build nuclear-powered submarines. Its revenues are derived from a broad portfolio of products and services that help to keep the overall growth momentum steady. Its diverse customer base provides it with an opportunity to generate revenues from different sources, which have helped the company to counter the volatility in domestic defense spending. The company’s focus on research and development will help drive continued growth in the quarters ahead. However, the company’s defense business will likely experience top-line pressure in case of any further defense budget cut. Moreover, the company operates in a highly competitive market, which may hurt its performance going forward.”

Several other analysts have also issued reports on the stock. Argus boosted their price objective on shares of General Dynamics Corp. from $160.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Jefferies Group reaffirmed a “buy” rating on shares of General Dynamics Corp. in a research report on Wednesday, August 3rd. Sanford C. Bernstein raised General Dynamics Corp. from a “market perform” rating to an “outperform” rating and set a $180.00 target price for the company in a research report on Wednesday, August 10th. They noted that the move was a valuation call. Vertical Research assumed coverage on General Dynamics Corp. in a research report on Friday, October 28th. They issued a “buy” rating and a $176.00 target price for the company. Finally, Vetr raised General Dynamics Corp. from a “buy” rating to a “strong-buy” rating and set a $168.30 target price for the company in a research report on Monday, October 31st. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. General Dynamics Corp. has a consensus rating of “Buy” and an average price target of $161.37.

Analyst Recommendations for General Dynamics Corp. (NYSE:GD)

Shares of General Dynamics Corp. (NYSE:GD) opened at 170.18 on Wednesday. General Dynamics Corp. has a 52-week low of $121.61 and a 52-week high of $171.19. The stock has a market capitalization of $51.72 billion, a price-to-earnings ratio of 18.21 and a beta of 0.69. The firm’s 50 day moving average is $155.81 and its 200 day moving average is $148.70.

General Dynamics Corp. (NYSE:GD) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.38 by $0.10. General Dynamics Corp. had a return on equity of 27.68% and a net margin of 9.45%. The business had revenue of $7.73 billion for the quarter, compared to analyst estimates of $7.91 billion. During the same quarter in the previous year, the firm earned $2.28 EPS. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. Equities analysts expect that General Dynamics Corp. will post $9.77 earnings per share for the current year.

In other news, VP Kimberly A. Kuryea sold 4,117 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $154.56, for a total transaction of $636,323.52. Following the completion of the sale, the vice president now owns 36,412 shares in the company, valued at $5,627,838.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert W. Helm sold 87,790 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $150.91, for a total value of $13,248,388.90. Following the sale, the insider now owns 157,176 shares of the company’s stock, valued at approximately $23,719,430.16. The disclosure for this sale can be found here. 6.80% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in General Dynamics Corp. by 19.1% in the second quarter. FMR LLC now owns 7,944,339 shares of the company’s stock valued at $1,106,170,000 after buying an additional 1,274,336 shares during the period. Wells Fargo & Company MN boosted its stake in General Dynamics Corp. by 27.6% in the third quarter. Wells Fargo & Company MN now owns 7,270,811 shares of the company’s stock valued at $1,128,140,000 after buying an additional 1,573,092 shares during the period. Boston Partners boosted its stake in General Dynamics Corp. by 34.3% in the second quarter. Boston Partners now owns 4,303,966 shares of the company’s stock valued at $599,284,000 after buying an additional 1,099,224 shares during the period. BlackRock Fund Advisors boosted its stake in General Dynamics Corp. by 4.1% in the third quarter. BlackRock Fund Advisors now owns 3,746,203 shares of the company’s stock valued at $581,261,000 after buying an additional 149,101 shares during the period. Finally, Franklin Resources Inc. boosted its stake in General Dynamics Corp. by 2.6% in the second quarter. Franklin Resources Inc. now owns 3,551,185 shares of the company’s stock valued at $494,467,000 after buying an additional 89,583 shares during the period. Institutional investors and hedge funds own 88.38% of the company’s stock.

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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.

5 Day Chart for NYSE:GD

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