General Dynamics Corporation (GD) Coverage Initiated by Analysts at Royal Bank Of Canada
Royal Bank Of Canada began coverage on shares of General Dynamics Corporation (NYSE:GD) in a research report report published on Thursday morning. The firm issued an outperform rating and a $206.00 target price on the stock.
GD has been the subject of several other reports. Jefferies Group restated a buy rating and issued a $175.00 price target (up from $167.00) on shares of General Dynamics Corporation in a report on Friday, October 28th. Deutsche Bank AG restated a hold rating on shares of General Dynamics Corporation in a report on Tuesday, October 18th. Vetr upgraded General Dynamics Corporation from a hold rating to a buy rating and set a $187.74 price objective for the company in a report on Tuesday, December 27th. Zacks Investment Research downgraded General Dynamics Corporation from a buy rating to a hold rating in a report on Monday, October 17th. Finally, Robert W. Baird initiated coverage on General Dynamics Corporation in a report on Thursday, October 6th. They set an outperform rating and a $181.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. General Dynamics Corporation has an average rating of Buy and a consensus price target of $169.81.
General Dynamics Corporation (NYSE:GD) traded up 0.78% during midday trading on Thursday, reaching $177.89. The company had a trading volume of 952,949 shares. The company’s 50-day moving average is $175.23 and its 200 day moving average is $156.83. General Dynamics Corporation has a 52-week low of $121.61 and a 52-week high of $180.09. The company has a market cap of $54.07 billion, a PE ratio of 19.04 and a beta of 0.75.
General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.10. General Dynamics Corporation had a return on equity of 27.68% and a net margin of 9.45%. The company earned $7.73 billion during the quarter, compared to the consensus estimate of $7.91 billion. During the same period in the prior year, the company earned $2.28 earnings per share. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, equities research analysts forecast that General Dynamics Corporation will post $9.77 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, February 10th. Investors of record on Friday, January 20th will be issued a dividend of $0.76 per share. The ex-dividend date is Wednesday, January 18th. This represents a $3.04 annualized dividend and a yield of 1.71%. General Dynamics Corporation’s payout ratio is currently 32.51%.
In related news, insider John Patrick Casey sold 69,895 shares of General Dynamics Corporation stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $178.51, for a total transaction of $12,476,956.45. Following the completion of the sale, the insider now directly owns 197,562 shares of the company’s stock, valued at approximately $35,266,792.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.80% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Waters Parkerson & CO. LLC bought a new position in General Dynamics Corporation during the second quarter worth approximately $355,000. TIAA CREF Investment Management LLC raised its position in General Dynamics Corporation by 0.4% in the third quarter. TIAA CREF Investment Management LLC now owns 1,084,274 shares of the company’s stock worth $168,236,000 after buying an additional 4,253 shares during the period. Bridgeway Capital Management Inc. raised its position in General Dynamics Corporation by 9.1% in the second quarter. Bridgeway Capital Management Inc. now owns 185,159 shares of the company’s stock worth $25,782,000 after buying an additional 15,500 shares during the period. RS Investment Management Co. LLC bought a new position in General Dynamics Corporation during the second quarter worth approximately $23,540,000. Finally, Vaughan Nelson Investment Management L.P. raised its position in General Dynamics Corporation by 5.2% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 282,245 shares of the company’s stock worth $43,793,000 after buying an additional 14,065 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.
About General Dynamics Corporation
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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