General Dynamics Corporation (GD) Rating Increased to Buy at Zacks Investment Research
General Dynamics Corporation (NYSE:GD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage presently has a $230.00 target price on the aerospace company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 9.25% from the stock’s previous close.
According to Zacks, “Being one of the only two contractors in the world equipped to build nuclear-powered submarines, General Dynamics’ diverse portfolio of products and services along with its wide customer base provides it with an opportunity to generate solid revenues from different sources. Moreover, the recently approved fiscal 2018 defense policy bill, which includes provision to spend $6 billion in Navy shipbuilding, will surely boost the company's growth trajectory. Also its Gulfstream business continues to grow on the back of solid jet sales. However, the company operates in a highly competitive market and has to rely on other companies to provide materials, components and subsystems for its products.”
GD has been the subject of a number of other research reports. BidaskClub upgraded General Dynamics Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reiterated a “buy” rating and set a $220.00 price target on shares of General Dynamics Corporation in a research note on Friday, July 7th. Cowen and Company reiterated a “buy” rating and set a $210.00 price target on shares of General Dynamics Corporation in a research note on Monday, July 17th. Morgan Stanley began coverage on General Dynamics Corporation in a report on Tuesday, August 8th. They issued an “underweight” rating and a $185.00 price objective on the stock. Finally, ValuEngine raised General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $209.12.
Shares of General Dynamics Corporation (GD) opened at 210.53 on Monday. The company has a market capitalization of $63.11 billion, a price-to-earnings ratio of 20.80 and a beta of 0.72. The company’s 50-day moving average is $201.33 and its 200 day moving average is $197.60. General Dynamics Corporation has a 12 month low of $148.76 and a 12 month high of $210.94.
General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. The firm had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.30 earnings per share. On average, equities research analysts anticipate that General Dynamics Corporation will post $9.80 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC grew its position in General Dynamics Corporation by 6.1% during the second quarter. Quadrant Capital Group LLC now owns 645 shares of the aerospace company’s stock valued at $110,000 after buying an additional 37 shares during the period. Vantage Investment Advisors LLC increased its holdings in General Dynamics Corporation by 9.3% in the second quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock valued at $116,000 after buying an additional 50 shares in the last quarter. Ruggie Capital Group purchased a new position in General Dynamics Corporation in the first quarter valued at $119,000. Captrust Financial Advisors acquired a new position in shares of General Dynamics Corporation in the second quarter worth about $129,000. Finally, WFG Advisors LP raised its position in shares of General Dynamics Corporation 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. 86.18% of the stock is currently owned by hedge funds and other institutional investors.
General Dynamics Corporation Company Profile
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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