General Dynamics (NYSE:GD) Price Target Increased to $354.00 by Analysts at Citigroup

General Dynamics (NYSE:GD) had its target price hoisted by Citigroup from $331.00 to $354.00 in a report published on Thursday, Benzinga reports. The brokerage currently has a buy rating on the aerospace company’s stock.

Several other research firms have also commented on GD. Morgan Stanley raised shares of General Dynamics from an equal weight rating to an overweight rating and lifted their price target for the company from $293.00 to $345.00 in a report on Friday, August 9th. Robert W. Baird reaffirmed an outperform rating and set a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on General Dynamics from $320.00 to $314.00 and set a hold rating on the stock in a research report on Thursday, October 3rd. BTIG Research began coverage on General Dynamics in a research report on Wednesday, June 26th. They set a buy rating and a $345.00 price objective for the company. Finally, TD Cowen raised General Dynamics to a strong-buy rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $319.06.

General Dynamics Stock Up 0.1 %

Shares of General Dynamics stock traded up $0.39 during trading on Thursday, reaching $296.44. The company had a trading volume of 46,490 shares, compared to its average volume of 1,090,707. The company has a market cap of $81.46 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. General Dynamics has a fifty-two week low of $232.29 and a fifty-two week high of $309.97. The firm’s fifty day moving average is $297.56 and its 200-day moving average is $293.37. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the prior year, the business earned $2.70 EPS. The company’s quarterly revenue was up 18.0% on a year-over-year basis. On average, analysts anticipate that General Dynamics will post 14.38 EPS for the current year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is presently 44.31%.

Insider Activity

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Richardson Financial Services Inc. acquired a new position in shares of General Dynamics in the 4th quarter worth $25,000. Redmont Wealth Advisors LLC purchased a new stake in General Dynamics during the first quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of General Dynamics in the first quarter worth about $29,000. New Covenant Trust Company N.A. purchased a new position in shares of General Dynamics in the first quarter worth approximately $29,000. Finally, American Capital Advisory LLC acquired a new stake in shares of General Dynamics during the second quarter valued at approximately $29,000. Institutional investors own 86.14% of the company’s stock.

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.