General Dynamics (NYSE:GD) had its target price cut by Morgan Stanley from $173.00 to $172.00 in a research note released on Thursday morning, BenzingaRatingsTable reports. They currently have an underweight rating on the aerospace company’s stock.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird boosted their price target on General Dynamics from $188.00 to $218.00 and gave the company an outperform rating in a research note on Wednesday, July 10th. Cowen set a $202.00 price target on General Dynamics and gave the company a buy rating in a research note on Friday, August 30th. Finally, Zacks Investment Research upgraded General Dynamics from a hold rating to a buy rating and set a $203.00 price target for the company in a research note on Monday, September 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. General Dynamics presently has an average rating of Hold and an average price target of $193.58.

Shares of NYSE:GD traded down $0.51 during trading on Thursday, reaching $179.12. 591,900 shares of the stock were exchanged, compared to its average volume of 1,268,672. General Dynamics has a 12 month low of $143.87 and a 12 month high of $196.04. The firm has a market cap of $51.85 billion, a PE ratio of 15.68, a PEG ratio of 1.70 and a beta of 1.20. The stock has a 50-day moving average price of $185.14 and a 200-day moving average price of $178.65. The company has a current ratio of 1.09, a quick ratio of 0.73 and a debt-to-equity ratio of 0.70.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.09. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.36 billion. During the same quarter in the previous year, the company posted $2.82 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts expect that General Dynamics will post 11.88 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a dividend of $1.02 per share. The ex-dividend date is Thursday, October 10th. This represents a $4.08 annualized dividend and a dividend yield of 2.28%. General Dynamics’s dividend payout ratio (DPR) is presently 35.73%.

In related news, VP Gary L. Whited sold 14,029 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $188.38, for a total value of $2,642,783.02. Following the completion of the sale, the vice president now directly owns 37,542 shares in the company, valued at $7,072,161.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher Marzilli sold 32,930 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $187.16, for a total value of $6,163,178.80. Following the completion of the sale, the executive vice president now owns 100,557 shares of the company’s stock, valued at $18,820,248.12. The disclosure for this sale can be found here. Insiders have sold 48,459 shares of company stock valued at $9,079,802 over the last quarter. Company insiders own 7.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of GD. Nuveen Asset Management LLC boosted its position in General Dynamics by 852.6% during the second quarter. Nuveen Asset Management LLC now owns 1,044,973 shares of the aerospace company’s stock valued at $189,997,000 after acquiring an additional 935,275 shares during the last quarter. Thoroughbred Financial Services LLC boosted its position in General Dynamics by 18,507.6% during the second quarter. Thoroughbred Financial Services LLC now owns 926,285 shares of the aerospace company’s stock valued at $92,628,000 after acquiring an additional 921,307 shares during the last quarter. Impala Asset Management LLC bought a new stake in General Dynamics during the second quarter valued at $94,759,000. Caisse DE Depot ET Placement DU Quebec boosted its position in General Dynamics by 11.4% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,748,497 shares of the aerospace company’s stock valued at $681,552,000 after acquiring an additional 383,200 shares during the last quarter. Finally, Farallon Capital Management LLC boosted its position in General Dynamics by 23.5% during the second quarter. Farallon Capital Management LLC now owns 1,335,214 shares of the aerospace company’s stock valued at $242,769,000 after acquiring an additional 253,726 shares during the last quarter. Institutional investors and hedge funds own 86.26% of the company’s stock.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

See Also: Retained Earnings

Analyst Recommendations for General Dynamics (NYSE:GD)

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