General Dynamics (NYSE:GD) Stock Price Target Raised at Royal Bank Of Canada

General Dynamics (NYSE:GD) had its target price boosted by Royal Bank Of Canada from $360.00 to $400.00 in a report issued on Monday, Benzinga reports. The firm currently has a “sector perform” rating on the aerospace company’s stock. Royal Bank Of Canada‘s target price indicates a potential upside of 7.78% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings restated a “buy (b)” rating on shares of General Dynamics in a report on Monday, September 28th. TD Cowen cut their price objective on General Dynamics from $420.00 to $380.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. Jefferies Financial Group reiterated a “buy” rating and issued a $455.00 target price on shares of General Dynamics in a report on Monday. Bank of America upped their price target on General Dynamics from $400.00 to $415.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Finally, Susquehanna lifted their price objective on General Dynamics from $420.00 to $455.00 and gave the company a “positive” rating in a research note on Thursday, July 30th. Eleven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $405.50.

General Dynamics Price Performance

Shares of General Dynamics stock traded down $1.45 during trading hours on Monday, reaching $371.14. 265,825 shares of the company’s stock were exchanged, compared to its average volume of 1,291,154. The business has a fifty day moving average of $351.44 and a two-hundred day moving average of $355.06. The company has a market capitalization of $100.41 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 2.18 and a beta of 0.30. The company has a quick ratio of 0.94, a current ratio of 1.43 and a debt-to-equity ratio of 0.23. General Dynamics has a 1 year low of $306.77 and a 1 year high of $400.00.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Friday, October 30th. The aerospace company reported $4.49 earnings per share for the quarter, topping analysts’ consensus estimates of $4.12 by $0.37. The company had revenue of $14.57 billion for the quarter, compared to analyst estimates of $13.72 billion. General Dynamics had a return on equity of 17.60% and a net margin of 8.24%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.88 earnings per share. As a group, research analysts predict that General Dynamics will post 16.99 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert K. Steel sold 7,440 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $346.05, for a total transaction of $2,574,612.00. Following the transaction, the director owned 3,096 shares in the company, valued at $1,071,370.80. This trade represents a 70.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of General Dynamics

Institutional investors and hedge funds have recently bought and sold shares of the business. Caisse de depot et placement du Quebec increased its stake in shares of General Dynamics by 454.0% during the second quarter. Caisse de depot et placement du Quebec now owns 180,917 shares of the aerospace company’s stock worth $64,088,000 after purchasing an additional 148,262 shares during the period. Empowered Funds LLC bought a new position in General Dynamics during the 2nd quarter worth $21,368,000. United Capital Financial Advisors LLC acquired a new stake in shares of General Dynamics during the second quarter worth $30,781,000. Professional Advisory Services Inc. boosted its position in shares of General Dynamics by 4.0% in the second quarter. Professional Advisory Services Inc. now owns 67,028 shares of the aerospace company’s stock valued at $23,744,000 after acquiring an additional 2,562 shares during the period. Finally, FSA Advisors Inc. acquired a new stake in General Dynamics in the 2nd quarter worth about $1,254,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

About General Dynamics

General Dynamics Corporation (NYSE: GD) is a global aerospace and defense company that develops, manufactures and supports products and services for government and commercial customers. Its operations serve the U.S. government, allied nations and other customers worldwide, with a significant focus on national security, military modernization and mission support.

The company operates through four primary business areas. Aerospace provides Gulfstream business jets and related aircraft services through Gulfstream Aerospace, as well as aircraft management, charter, maintenance and completions services through Jet Aviation.