Citigroup Raises General Dynamics (NYSE:GD) Price Target to $354.00

General Dynamics (NYSE:GD) had its price objective upped by Citigroup from $331.00 to $354.00 in a report issued on Thursday, Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

Several other analysts have also recently weighed in on GD. BTIG Research assumed coverage on General Dynamics in a report on Wednesday, June 26th. They set a buy rating and a $345.00 price target on the stock. Morgan Stanley upgraded General Dynamics from an equal weight rating to an overweight rating and upped their target price for the company from $293.00 to $345.00 in a report on Friday, August 9th. Royal Bank of Canada reiterated an outperform rating and issued a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reduced their target price on General Dynamics from $320.00 to $314.00 and set a hold rating on the stock in a report on Thursday, October 3rd. Finally, Wells Fargo & Company downgraded shares of General Dynamics from an overweight rating to an equal weight rating and reduced their price objective for the stock from $334.00 to $317.00 in a research report on Tuesday, October 1st. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, General Dynamics presently has a consensus rating of Moderate Buy and an average target price of $319.06.

General Dynamics Stock Up 1.6 %

Shares of NYSE GD opened at $299.44 on Thursday. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The company has a market cap of $82.28 billion, a price-to-earnings ratio of 23.36, a PEG ratio of 1.67 and a beta of 0.61. General Dynamics has a 12 month low of $232.29 and a 12 month high of $309.97. The stock has a 50-day moving average price of $297.70 and a two-hundred day moving average price of $293.62.

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

General Dynamics Announces Dividend

The firm 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 payout ratio is 44.31%.

Insider Transactions at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction 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 sale, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

Several large investors have recently added to or reduced their stakes in GD. Richardson Financial Services Inc. purchased a new stake in General Dynamics in the 4th quarter worth about $25,000. Redmont Wealth Advisors LLC purchased a new stake in General Dynamics in the 1st quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in General Dynamics in the 1st quarter worth about $29,000. New Covenant Trust Company N.A. purchased a new stake in General Dynamics in the 1st quarter worth about $29,000. Finally, American Capital Advisory LLC purchased a new stake in General Dynamics in the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Company Profile

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.