General Dynamics (NYSE:GD) Sets New 1-Year High at $302.95

General Dynamics Co. (NYSE:GD)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $302.95 and last traded at $301.58, with a volume of 476597 shares traded. The stock had previously closed at $292.78.

Wall Street Analysts Forecast Growth

GD has been the topic of several research reports. Barclays boosted their price objective on shares of General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report 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 research note on Tuesday, July 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research note on Thursday, July 25th. Sanford C. Bernstein upped their price objective on shares of General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Finally, BTIG Research initiated coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $315.06.

General Dynamics Trading Down 1.0 %

The firm has a market cap of $82.29 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.60 and a beta of 0.61. The business’s 50-day moving average is $291.40 and its two-hundred day moving average is $289.50. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80.

General Dynamics (NYSE:GD) last announced its quarterly 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 firm 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 quarter in the prior year, the business earned $2.70 EPS. As a group, analysts predict that General Dynamics Co. will post 14.52 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is presently 46.33%.

Institutional Trading of General Dynamics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cim LLC bought a new position in General Dynamics in the 2nd quarter valued at about $2,052,000. Sanctuary Advisors LLC bought a new position in General Dynamics in the 2nd quarter valued at about $24,147,000. Farmers National Bank increased its holdings in General Dynamics by 0.9% in the 2nd quarter. Farmers National Bank now owns 10,182 shares of the aerospace company’s stock valued at $2,954,000 after buying an additional 92 shares during the period. Dana Investment Advisors Inc. bought a new position in General Dynamics in the 2nd quarter valued at about $4,697,000. Finally, New Wave Wealth Advisors LLC bought a new position in General Dynamics in the 2nd quarter valued at about $271,000. 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.