Brokerages Set General Dynamics Co. (NYSE:GD) PT at $297.71

General Dynamics Co. (NYSE:GD) has earned an average recommendation of “Hold” from the twenty-one analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $297.71.

GD has been the topic of several research analyst reports. Susquehanna cut their price target on shares of General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a research note on Thursday, January 30th. Barclays cut their price target on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Royal Bank of Canada cut their price target on shares of General Dynamics from $290.00 to $280.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 30th. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Finally, BTIG Research lowered shares of General Dynamics from a “buy” rating to a “neutral” rating in a research note on Thursday, February 13th.

Insider Buying and Selling

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $272.11, for a total value of $7,499,895.82. Following the sale, the senior vice president now owns 45,192 shares of the company’s stock, valued at $12,297,195.12. This represents a 37.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the sale, the director now directly owns 11,175 shares in the company, valued at $2,857,224. This trade represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is owned by insiders.

Institutional Trading of General Dynamics

Several institutional investors and hedge funds have recently modified their holdings of GD. Financial Life Planners acquired a new position in General Dynamics during the fourth quarter worth approximately $25,000. Whipplewood Advisors LLC acquired a new position in General Dynamics during the fourth quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in General Dynamics during the fourth quarter worth approximately $26,000. Copia Wealth Management acquired a new position in General Dynamics during the fourth quarter worth approximately $27,000. Finally, Heck Capital Advisors LLC acquired a new position in General Dynamics during the fourth quarter worth approximately $28,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Up 0.4 %

Shares of NYSE:GD opened at $262.19 on Tuesday. General Dynamics has a 52 week low of $239.87 and a 52 week high of $316.90. The company’s 50 day moving average is $257.89 and its two-hundred day moving average is $278.90. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33. The company has a market cap of $70.88 billion, a PE ratio of 19.22, a P/E/G ratio of 1.69 and a beta of 0.59.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. Equities analysts predict that General Dynamics will post 14.83 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 11th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, April 11th. This represents a $6.00 dividend on an annualized basis and a yield of 2.29%. This is an increase from General Dynamics’s previous quarterly dividend of $1.42. General Dynamics’s payout ratio is currently 43.99%.

General Dynamics announced that its board has approved a share repurchase program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.