General Dynamics (NYSE:GD)‘s stock had its “buy” rating reaffirmed by stock analysts at Drexel Hamilton in a research report issued on Monday, February 4th. They presently have a $230.00 price objective on the aerospace company’s stock. Drexel Hamilton’s price objective suggests a potential upside of 35.87% from the company’s current price.
Other equities research analysts also recently issued reports about the stock. Citigroup reduced their price target on shares of General Dynamics from $210.00 to $195.00 and set a “neutral” rating on the stock in a research note on Thursday, October 25th. Sanford C. Bernstein cut their target price on shares of General Dynamics from $186.00 to $178.00 and set a “market perform” rating on the stock in a research report on Monday, February 4th. Cowen reiterated a “buy” rating and set a $253.00 target price on shares of General Dynamics in a research report on Monday, October 15th. Stifel Nicolaus cut their target price on shares of General Dynamics from $210.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday, October 26th. Finally, Zacks Investment Research downgraded shares of General Dynamics from a “hold” rating to a “sell” rating in a research report on Wednesday, January 23rd. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $207.88.
Shares of GD traded down $0.94 during mid-day trading on Monday, reaching $169.28. The company had a trading volume of 1,109,092 shares, compared to its average volume of 1,436,464. General Dynamics has a 1-year low of $143.87 and a 1-year high of $230.00. The company has a current ratio of 1.23, a quick ratio of 0.83 and a debt-to-equity ratio of 0.98. The company has a market cap of $49.73 billion, a P/E ratio of 14.82, a PEG ratio of 1.60 and a beta of 1.16.
General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, January 30th. The aerospace company reported $3.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.98 by $0.09. General Dynamics had a net margin of 9.24% and a return on equity of 28.33%. The company had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.34 billion. During the same period last year, the company posted $2.50 EPS. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. On average, equities analysts forecast that General Dynamics will post 11.71 EPS for the current year.
In other news, Director Catherine B. Reynolds purchased 600 shares of the company’s stock in a transaction dated Friday, December 7th. The shares were purchased at an average price of $167.64 per share, for a total transaction of $100,584.00. Following the transaction, the director now owns 1,153 shares of the company’s stock, valued at $193,288.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lester L. Lyles sold 4,580 shares of General Dynamics stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $172.42, for a total transaction of $789,683.60. Following the completion of the sale, the director now owns 12,314 shares of the company’s stock, valued at approximately $2,123,179.88. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in GD. Oregon Public Employees Retirement Fund increased its stake in shares of General Dynamics by 14,601.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,581,635 shares of the aerospace company’s stock valued at $61,000 after acquiring an additional 9,516,460 shares in the last quarter. Matthew Goff Investment Advisor LLC increased its stake in shares of General Dynamics by 18,540.8% in the 3rd quarter. Matthew Goff Investment Advisor LLC now owns 4,959,204 shares of the aerospace company’s stock valued at $26,604,000 after acquiring an additional 4,932,600 shares in the last quarter. Capital World Investors bought a new stake in shares of General Dynamics in the 3rd quarter valued at $492,331,000. Capital International Investors increased its stake in shares of General Dynamics by 79.5% in the 3rd quarter. Capital International Investors now owns 2,642,678 shares of the aerospace company’s stock valued at $541,009,000 after acquiring an additional 1,170,662 shares in the last quarter. Finally, Cornerstone Wealth Management LLC increased its stake in shares of General Dynamics by 1,393.1% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 658,951 shares of the aerospace company’s stock valued at $3,086,000 after acquiring an additional 614,817 shares in the last quarter. Institutional investors own 86.39% of the company’s stock.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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