General Dynamics Co. (GD) Receives $215.98 Consensus Target Price from Brokerages
General Dynamics Co. (NYSE:GD) has been assigned a consensus recommendation of “Hold” from the eighteen ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $217.44.
A number of analysts have weighed in on the company. BidaskClub upgraded General Dynamics from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Jefferies Group LLC restated a “buy” rating on shares of General Dynamics in a research note on Friday, August 11th. Royal Bank Of Canada set a $239.00 price target on shares of General Dynamics and gave the company a “buy” rating in a research report on Wednesday. ValuEngine cut shares of General Dynamics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, Morgan Stanley assumed coverage on shares of General Dynamics in a research report on Tuesday, August 8th. They issued an “underweight” rating and a $185.00 price target on the stock.
In related news, insider John Patrick Casey sold 34,945 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total transaction of $7,037,224.10. Following the transaction, the insider now owns 144,378 shares in the company, valued at $29,074,841.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $202.93, for a total transaction of $15,903,624.10. The disclosure for this sale can be found here. 6.70% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of GD. WFG Advisors LP raised its position in General Dynamics by 0.3% in the second quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock worth $132,000 after acquiring an additional 2 shares during the period. Zions Bancorporation raised its position in General Dynamics by 0.5% in the first quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock worth $137,000 after acquiring an additional 4 shares during the period. Norway Savings Bank raised its position in General Dynamics by 0.5% in the second quarter. Norway Savings Bank now owns 1,015 shares of the aerospace company’s stock worth $201,000 after acquiring an additional 5 shares during the period. YorkBridge Wealth Partners LLC raised its position in General Dynamics by 0.5% in the second quarter. YorkBridge Wealth Partners LLC now owns 992 shares of the aerospace company’s stock worth $198,000 after acquiring an additional 5 shares during the period. Finally, Guardian Life Insurance Co. of America increased its stake in shares of General Dynamics by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,104 shares of the aerospace company’s stock worth $207,000 after purchasing an additional 8 shares in the last quarter. Institutional investors own 85.79% of the company’s stock.
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Shares of General Dynamics (NYSE GD) traded up $0.23 during mid-day trading on Monday, hitting $199.22. The company had a trading volume of 1,103,818 shares, compared to its average volume of 1,151,088. The company has a current ratio of 1.37, a quick ratio of 0.93 and a debt-to-equity ratio of 0.34. General Dynamics has a fifty-two week low of $164.97 and a fifty-two week high of $214.81. The company has a market capitalization of $59,480.00, a PE ratio of 19.88, a P/E/G ratio of 2.40 and a beta of 0.73.
General Dynamics (NYSE:GD) last released its earnings results on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.09. General Dynamics had a return on equity of 27.98% and a net margin of 9.94%. The firm had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $7.94 billion. During the same period in the prior year, the company earned $2.36 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. equities research analysts predict that General Dynamics will post 9.81 earnings per share for the current fiscal year.
About General Dynamics
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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