General Dynamics Corporation’s (GD) Hold Rating Reiterated at Deutsche Bank AG
Deutsche Bank AG reissued their hold rating on shares of General Dynamics Corporation (NYSE:GD) in a research report report published on Monday. They currently have a $210.00 price target on the aerospace company’s stock, up from their prior price target of $200.00.
Several other brokerages also recently commented on GD. Zacks Investment Research upgraded General Dynamics Corporation from a hold rating to a buy rating and set a $230.00 target price on the stock in a report on Monday. BidaskClub upgraded General Dynamics Corporation from a buy rating to a strong-buy rating in a report on Tuesday, July 25th. Jefferies Group LLC reiterated a buy rating and set a $220.00 target price on shares of General Dynamics Corporation in a report on Friday, July 7th. Cowen and Company reiterated a buy rating and set a $210.00 target price on shares of General Dynamics Corporation in a report on Monday, July 17th. Finally, Morgan Stanley began coverage on General Dynamics Corporation in a report on Tuesday, August 8th. They set an underweight rating and a $185.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $209.12.
General Dynamics Corporation (NYSE:GD) opened at 213.45 on Monday. The firm has a market capitalization of $63.99 billion, a P/E ratio of 21.09 and a beta of 0.72. The firm has a 50-day moving average price of $202.03 and a 200 day moving average price of $197.82. General Dynamics Corporation has a 52-week low of $148.76 and a 52-week high of $214.11.
General Dynamics Corporation (NYSE:GD) last released its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.02. The company had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $7.76 billion. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business posted $2.30 EPS. Analysts forecast that General Dynamics Corporation will post $9.80 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be paid a dividend of $0.84 per share. The ex-dividend date is Thursday, October 5th. This represents a $3.36 dividend on an annualized basis and a yield of 1.57%. General Dynamics Corporation’s dividend payout ratio (DPR) is presently 34.57%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC grew its stake in General Dynamics Corporation by 6.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 645 shares of the aerospace company’s stock valued at $110,000 after purchasing an additional 37 shares in the last quarter. Vantage Investment Advisors LLC grew its stake in General Dynamics Corporation by 9.3% during the 2nd quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock valued at $116,000 after purchasing an additional 50 shares in the last quarter. Ruggie Capital Group acquired a new stake in General Dynamics Corporation during the 1st quarter valued at approximately $119,000. Captrust Financial Advisors acquired a new stake in General Dynamics Corporation during the 2nd quarter valued at approximately $129,000. Finally, WFG Advisors LP grew its stake in General Dynamics Corporation by 0.3% during the 2nd quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock valued at $132,000 after purchasing an additional 2 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.
About General Dynamics Corporation
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.
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