General Dynamics (NYSE:GD) Upgraded to Strong-Buy by TD Cowen

TD Cowen upgraded shares of General Dynamics (NYSE:GD) to a strong-buy rating in a research report report published on Tuesday, Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Morgan Stanley raised General Dynamics from an equal weight rating to an overweight rating and lifted their price target for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Robert W. Baird reiterated an outperform rating and set a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. Wells Fargo & Company lowered shares of General Dynamics from an overweight rating to an equal weight rating and cut their price target for the stock from $334.00 to $317.00 in a report on Tuesday, October 1st. BTIG Research assumed 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 for the company. Finally, Deutsche Bank Aktiengesellschaft cut their target price on General Dynamics from $320.00 to $314.00 and set a hold rating on the stock in a research note on Thursday, October 3rd. Six 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 company. Based on data from MarketBeat, General Dynamics presently has an average rating of Moderate Buy and an average price target of $319.06.

General Dynamics Trading Up 1.6 %

GD stock opened at $299.44 on Tuesday. The company has a market capitalization of $82.28 billion, a PE ratio of 23.36, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. 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 has a one year low of $232.29 and a one year high of $309.97. The company’s 50 day moving average price is $297.56 and its two-hundred day moving average price is $293.37.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same period in the prior year, the firm earned $2.70 earnings per share. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, analysts predict that General Dynamics will post 14.38 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The firm 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 $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio (DPR) is presently 44.31%.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of the company’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 value of $406,626.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On General Dynamics

Large investors have recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. bought a new stake in General Dynamics during the fourth quarter valued at approximately $25,000. Redmont Wealth Advisors LLC purchased a new stake in shares of General Dynamics in the 1st quarter worth $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in General Dynamics during the first quarter valued at $29,000. New Covenant Trust Company N.A. bought a new stake in General Dynamics during the first quarter valued at about $29,000. Finally, American Capital Advisory LLC purchased a new stake in General Dynamics in the second quarter worth about $29,000. 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.