General Dynamics Co. (NYSE:GD) has received an average recommendation of “Hold” from the twenty research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $196.00.
GD has been the topic of a number of recent research reports. Morgan Stanley set a $18.00 target price on PG&E and gave the stock a “hold” rating in a research note on Friday, June 14th. Zacks Investment Research upgraded Global Ship Lease from a “hold” rating to a “strong-buy” rating and set a $7.75 target price on the stock in a research note on Monday, June 3rd. UBS Group restated a “buy” rating and issued a $124.00 target price on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research note on Thursday, April 25th. Robert W. Baird increased their price target on Northrop Grumman from $300.00 to $364.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Cowen reiterated an “outperform” rating and set a $230.00 price target (up previously from $200.00) on shares of Norfolk Southern in a research report on Wednesday, April 24th.
Shares of GD traded up $2.24 during mid-day trading on Friday, reaching $185.84. The company had a trading volume of 827,482 shares, compared to its average volume of 976,467. General Dynamics has a 52-week low of $143.87 and a 52-week high of $207.72. The company has a quick ratio of 0.82, a current ratio of 1.23 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $53.68 billion, a PE ratio of 16.27, a P/E/G ratio of 1.76 and a beta of 1.20. The company has a 50 day moving average price of $173.82.
General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, April 24th. The aerospace company reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.18. General Dynamics had a return on equity of 27.62% and a net margin of 8.68%. The firm had revenue of $9.26 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the prior year, the business earned $2.65 earnings per share. The company’s revenue was up 22.9% compared to the same quarter last year. Analysts anticipate that General Dynamics will post 11.76 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a dividend of $1.02 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $4.08 dividend on an annualized basis and a yield of 2.20%. General Dynamics’s dividend payout ratio is currently 35.73%.
In other news, EVP John Patrick Casey sold 45,470 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $172.46, for a total value of $7,841,756.20. Following the transaction, the executive vice president now owns 148,133 shares in the company, valued at $25,547,017.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GD. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of General Dynamics by 5.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,937 shares of the aerospace company’s stock worth $2,034,000 after purchasing an additional 617 shares during the period. Royce & Associates LP lifted its position in shares of General Dynamics by 3.7% in the 4th quarter. Royce & Associates LP now owns 28,000 shares of the aerospace company’s stock worth $4,402,000 after purchasing an additional 1,000 shares during the period. Resources Investment Advisors Inc. lifted its position in shares of General Dynamics by 359.6% in the 4th quarter. Resources Investment Advisors Inc. now owns 2,882 shares of the aerospace company’s stock worth $453,000 after purchasing an additional 2,255 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of General Dynamics by 12.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 52,200 shares of the aerospace company’s stock worth $8,207,000 after purchasing an additional 5,675 shares during the period. Finally, Bessemer Group Inc. lifted its position in shares of General Dynamics by 22.3% in the 4th quarter. Bessemer Group Inc. now owns 3,954 shares of the aerospace company’s stock worth $621,000 after purchasing an additional 720 shares during the period. Institutional investors and hedge funds own 86.45% of the company’s stock.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
Further Reading: Current Ratio
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