General Dynamics (NYSE:GD) Price Target Raised to $298.00 at JPMorgan Chase & Co.

General Dynamics (NYSE:GD) had its price target raised by JPMorgan Chase & Co. from $280.00 to $298.00 in a research report sent to investors on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the aerospace company’s stock.

A number of other brokerages also recently issued reports on GD. Susquehanna upped their price target on General Dynamics from $301.00 to $333.00 and gave the company a positive rating in a report on Friday, April 12th. Alembic Global Advisors downgraded General Dynamics from an overweight rating to a neutral rating and set a $296.00 price target for the company. in a report on Monday, January 29th. The Goldman Sachs Group upped their price target on General Dynamics from $253.00 to $284.00 and gave the company a neutral rating in a report on Tuesday, April 16th. Wells Fargo & Company upped their price target on General Dynamics from $291.00 to $322.00 and gave the company an overweight rating in a report on Thursday, April 4th. Finally, Barclays boosted their price objective on General Dynamics from $285.00 to $310.00 and gave the company an overweight rating in a research note on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, General Dynamics has a consensus rating of Moderate Buy and a consensus price target of $285.63.

General Dynamics Trading Up 0.0 %

General Dynamics stock traded up $0.08 during midday trading on Thursday, reaching $284.98. 689,106 shares of the stock traded hands, compared to its average volume of 1,107,321. The company has a 50-day simple moving average of $280.56 and a two-hundred day simple moving average of $261.39. General Dynamics has a 12-month low of $202.35 and a 12-month high of $296.50. The firm has a market cap of $78.19 billion, a PE ratio of 23.24, a price-to-earnings-growth ratio of 1.79 and a beta of 0.68. The company has a current ratio of 1.44, a quick ratio of 0.92 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.01). The company had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.64 EPS. Research analysts expect that General Dynamics will post 14.56 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be given a $1.42 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $5.68 annualized dividend and a yield of 1.99%. General Dynamics’s dividend payout ratio is presently 46.33%.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe N. Novakovic sold 32,355 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $264.31, for a total value of $8,551,750.05. Following the completion of the transaction, the chief executive officer now owns 773,977 shares in the company, valued at $204,569,860.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.52% of the stock is currently owned by company insiders.

Institutional Trading of General Dynamics

Several large investors have recently bought and sold shares of GD. Norges Bank acquired a new stake in General Dynamics in the fourth quarter valued at $728,284,000. Wellington Management Group LLP raised its holdings in shares of General Dynamics by 12.0% in the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after purchasing an additional 1,755,276 shares during the period. International Assets Investment Management LLC raised its holdings in shares of General Dynamics by 10,763.2% in the 4th quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock worth $239,829,000 after purchasing an additional 915,091 shares during the period. Verity & Verity LLC purchased a new position in shares of General Dynamics in the 1st quarter worth about $179,000. Finally, 1832 Asset Management L.P. raised its holdings in shares of General Dynamics by 3,645.4% in the 4th quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock worth $145,048,000 after purchasing an additional 543,672 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.