General Dynamics (NYSE:GD) Given New $331.00 Price Target at Sanford C. Bernstein

General Dynamics (NYSE:GD) had its price objective cut by Sanford C. Bernstein from $343.00 to $331.00 in a report released on Thursday, Benzinga reports. They currently have a market perform rating on the aerospace company’s stock.

Other research analysts also recently issued reports about the company. Susquehanna lifted their target price on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. TD Cowen raised General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Barclays boosted their price objective on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $323.88.

General Dynamics Trading Up 0.6 %

GD traded up $1.81 during midday trading on Thursday, hitting $303.08. 137,699 shares of the company were exchanged, compared to its average volume of 1,089,595. The firm has a market capitalization of $83.15 billion, a P/E ratio of 24.57, a P/E/G ratio of 1.67 and a beta of 0.61. General Dynamics has a 1-year low of $236.58 and a 1-year high of $313.11. The firm’s 50 day moving average price is $300.17 and its 200-day moving average price is $294.55. 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, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.04 earnings per share. As a group, equities analysts forecast that General Dynamics will post 14.38 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On General Dynamics

Several institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA grew its holdings in shares of General Dynamics by 4.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after acquiring an additional 293,316 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of General Dynamics by 2.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after acquiring an additional 115,063 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of General Dynamics by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock valued at $601,756,000 after acquiring an additional 47,915 shares in the last quarter. Boston Partners grew its holdings in shares of General Dynamics by 1.4% in the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after acquiring an additional 23,262 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in General Dynamics by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock valued at $466,049,000 after purchasing an additional 23,304 shares during the period. 86.14% of the stock is owned by 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.