Analysts Set General Dynamics Co. (NYSE:GD) PT at $304.53

Shares of General Dynamics Co. (NYSE:GD) have been assigned an average rating of “Hold” from the twenty-one brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $304.88.

Several research firms have recently commented on GD. Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Sanford C. Bernstein lowered their price objective on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Barclays decreased their price target on General Dynamics from $330.00 to $305.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Jefferies Financial Group reissued a “hold” rating and issued a $300.00 target price (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd.

General Dynamics Stock Down 0.9 %

GD opened at $266.22 on Monday. General Dynamics has a 52 week low of $257.26 and a 52 week high of $316.90. The business has a 50 day moving average price of $269.70 and a two-hundred day moving average price of $287.74. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The company has a market cap of $73.20 billion, a PE ratio of 20.28, a P/E/G ratio of 1.43 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. General Dynamics’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.04 EPS. As a group, research analysts anticipate that General Dynamics will post 13.66 EPS for the current year.

General Dynamics declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a dividend of $1.42 per share. The ex-dividend date is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.13%. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.

Insider Buying and Selling

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the sale, the vice president now directly owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Coston McIsaac & Partners raised its stake in General Dynamics by 22.8% during the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after purchasing an additional 33 shares during the period. Global X Japan Co. Ltd. increased its holdings in shares of General Dynamics by 2.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock worth $448,000 after buying an additional 33 shares during the last quarter. Grove Bank & Trust raised its position in shares of General Dynamics by 10.6% in the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after buying an additional 34 shares during the period. Trueblood Wealth Management LLC boosted its holdings in General Dynamics by 1.6% in the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock valued at $672,000 after acquiring an additional 34 shares during the last quarter. Finally, Jeppson Wealth Management LLC grew its position in General Dynamics by 3.8% during the third quarter. Jeppson Wealth Management LLC now owns 955 shares of the aerospace company’s stock valued at $289,000 after acquiring an additional 35 shares during the period. 86.14% of the stock is currently owned by hedge funds and other 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.