General Dynamics (NYSE:GD) Price Target Increased to $352.00 by Analysts at Susquehanna

General Dynamics (NYSE:GD) had its price target upped by Susquehanna from $333.00 to $352.00 in a report released on Thursday, Benzinga reports. The firm currently has a positive rating on the aerospace company’s stock.

Several other brokerages also recently weighed in on GD. Wells Fargo & Company downgraded shares of General Dynamics from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $334.00 to $317.00 in a research note on Tuesday, October 1st. Barclays increased their price objective on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, General Dynamics has a consensus rating of “Moderate Buy” and a consensus price target of $320.18.

General Dynamics Stock Up 1.1 %

Shares of NYSE GD opened at $308.29 on Thursday. The stock has a market cap of $84.58 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. General Dynamics has a 52-week low of $232.29 and a 52-week high of $309.97. The business has a 50-day moving average price of $299.03 and a 200 day moving average price of $294.14. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last announced 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). The business had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.70 earnings per share. Equities research analysts forecast that General Dynamics will post 14.38 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s payout ratio is 46.33%.

Insider Buying and Selling at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Dynamics

Several institutional investors and hedge funds have recently bought and sold shares of GD. Redmont Wealth Advisors LLC purchased a new stake in shares of General Dynamics during the 1st quarter valued at $25,000. American Capital Advisory LLC purchased a new stake in General Dynamics during the second quarter valued at about $29,000. Lowe Wealth Advisors LLC acquired a new stake in General Dynamics during the third quarter worth about $30,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of General Dynamics in the 1st quarter worth about $29,000. Finally, New Covenant Trust Company N.A. purchased a new stake in shares of General Dynamics during the 1st quarter worth about $29,000. Institutional investors and hedge funds 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.