General Dynamics (NYSE:GD) Sets New 12-Month High at $307.22

General Dynamics Co. (NYSE:GD)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $307.22 and last traded at $307.22, with a volume of 2310 shares. The stock had previously closed at $304.80.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Sanford C. Bernstein raised their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the company a “market perform” rating in a research report on Thursday, May 23rd. Barclays lifted their price target on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Robert W. Baird reissued an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a research note on Thursday, July 25th. Finally, Wells Fargo & Company raised their price objective on shares of General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $315.06.

General Dynamics Trading Down 1.2 %

The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $83.37 billion, a PE ratio of 24.78, a P/E/G ratio of 1.64 and a beta of 0.61. The business’s fifty day moving average price is $293.51 and its 200 day moving average price is $290.56.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same period in the previous year, the firm posted $2.70 earnings per share. The firm’s revenue was up 18.0% on a year-over-year basis. As a group, analysts expect that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.87%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Modera Wealth Management LLC boosted its holdings in General Dynamics by 0.4% in the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after acquiring an additional 35 shares during the last quarter. Rathbones Group PLC grew its holdings in shares of General Dynamics by 1.8% during the 2nd quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock worth $587,000 after purchasing an additional 35 shares during the period. Legend Financial Advisors Inc. increased its position in General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 36 shares in the last quarter. Diversified Trust Co raised its holdings in General Dynamics by 2.5% in the first quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock valued at $425,000 after buying an additional 36 shares during the period. Finally, Fulton Bank N.A. lifted its position in General Dynamics by 1.1% during the first quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock valued at $932,000 after buying an additional 37 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.