General Dynamics (NYSE:GD) Given New $298.00 Price Target at JPMorgan Chase & Co.

General Dynamics (NYSE:GD) had its target price hoisted by stock analysts at JPMorgan Chase & Co. from $280.00 to $298.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the aerospace company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 4.72% from the company’s previous close.

A number of other brokerages also recently weighed in on GD. Barclays raised their target price on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, April 15th. The Goldman Sachs Group raised their price objective on General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Alembic Global Advisors downgraded General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price objective on the stock. in a report on Monday, January 29th. StockNews.com downgraded General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 3rd. Finally, UBS Group raised their price objective on General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $284.38.

General Dynamics Stock Performance

Shares of NYSE GD traded up $3.47 during trading hours on Thursday, reaching $284.58. 797,863 shares of the stock were exchanged, compared to its average volume of 1,100,381. The firm has a market capitalization of $78.08 billion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 1.86 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.44. General Dynamics has a 52 week low of $202.35 and a 52 week high of $296.50. The stock’s fifty day simple moving average is $280.26 and its 200 day simple moving average is $261.22.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). General Dynamics had a return on equity of 16.61% and a net margin of 7.84%. The company had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same quarter last year, the business earned $2.64 EPS. General Dynamics’s revenue was up 8.6% on a year-over-year basis. Sell-side analysts predict that General Dynamics will post 14.56 EPS for the current year.

Insider Transactions at General Dynamics

In related news, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $264.31, for a total value of $8,551,750.05. Following the transaction, the chief executive officer now owns 773,977 shares in the company, valued at $204,569,860.87. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Mark C. Roualet sold 73,330 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $264.75, for a total value of $19,414,117.50. Following the transaction, the executive vice president now owns 149,205 shares of the company’s stock, valued at $39,502,023.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the completion of the transaction, the chief executive officer now directly owns 773,977 shares in the company, valued at approximately $204,569,860.87. The disclosure for this sale can be found here. Company insiders own 1.52% of the company’s stock.

Institutional Trading of General Dynamics

Several institutional investors have recently added to or reduced their stakes in the business. Impact Partnership Wealth LLC lifted its holdings in shares of General Dynamics by 411.5% during the third quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 107 shares during the last quarter. Exchange Traded Concepts LLC grew its position in General Dynamics by 1,406.1% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,696 shares of the aerospace company’s stock worth $596,000 after purchasing an additional 2,517 shares during the period. Private Trust Co. NA grew its position in General Dynamics by 1.1% in the 3rd quarter. Private Trust Co. NA now owns 4,210 shares of the aerospace company’s stock worth $930,000 after purchasing an additional 47 shares during the period. CX Institutional grew its position in General Dynamics by 123.9% in the 3rd quarter. CX Institutional now owns 23,531 shares of the aerospace company’s stock worth $5,200,000 after purchasing an additional 13,022 shares during the period. Finally, WASHINGTON TRUST Co grew its position in General Dynamics by 3.9% in the 3rd quarter. WASHINGTON TRUST Co now owns 2,659 shares of the aerospace company’s stock worth $588,000 after purchasing an additional 100 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.