Wells Fargo & Company Raises General Dynamics (NYSE:GD) Price Target to $322.00

General Dynamics (NYSE:GD) had its target price raised by Wells Fargo & Company from $317.00 to $322.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an equal weight rating on the aerospace company’s stock.

GD has been the subject of several other reports. Citigroup lifted their target price on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. BTIG Research began coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target for the company. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 target price on shares of General Dynamics in a research report on Thursday, July 25th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.88.

General Dynamics Price Performance

Shares of GD opened at $302.52 on Thursday. General Dynamics has a fifty-two week low of $236.58 and a fifty-two week high of $313.11. The firm’s 50-day simple moving average is $300.40 and its two-hundred day simple moving average is $294.71. The stock has a market cap of $83.13 billion, a PE ratio of 23.60, a price-to-earnings-growth ratio of 1.72 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 (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The company had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter in the previous year, the firm posted $3.04 EPS. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. Analysts anticipate that General Dynamics will post 14.27 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Friday, October 11th. General Dynamics’s payout ratio is 44.31%.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value 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. 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 link. Corporate insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

A number of institutional investors and hedge funds have recently bought and sold shares of GD. Financial Advocates Investment Management purchased a new stake in General Dynamics during the 3rd quarter valued at approximately $215,000. 1620 Investment Advisors Inc. boosted its holdings in shares of General Dynamics by 79.3% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 2,238 shares of the aerospace company’s stock valued at $676,000 after purchasing an additional 990 shares during the last quarter. SteelPeak Wealth LLC purchased a new position in shares of General Dynamics during the third quarter valued at about $337,000. First Trust Direct Indexing L.P. increased its holdings in shares of General Dynamics by 7.2% in the third quarter. First Trust Direct Indexing L.P. now owns 8,646 shares of the aerospace company’s stock worth $2,613,000 after purchasing an additional 581 shares during the last quarter. Finally, Golden State Equity Partners boosted its stake in General Dynamics by 31.8% during the third quarter. Golden State Equity Partners now owns 5,618 shares of the aerospace company’s stock valued at $1,698,000 after buying an additional 1,356 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

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.