General Dynamics (NYSE:GD) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of General Dynamics (NYSE:GD) from a buy rating to a strong-buy rating in a research note released on Sunday.

A number of other research analysts have also commented on GD. Weiss Ratings restated a “buy (b)” rating on shares of General Dynamics in a research note on Tuesday, April 21st. The Goldman Sachs Group lowered their price target on General Dynamics from $327.00 to $313.00 and set a “sell” rating on the stock in a report on Monday, May 4th. DA Davidson dropped their price target on General Dynamics from $384.00 to $375.00 in a research report on Thursday, April 30th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $385.00 price objective on shares of General Dynamics in a research report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on General Dynamics from $387.00 to $377.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $388.20.

General Dynamics Price Performance

Shares of NYSE GD opened at $346.48 on Friday. The stock has a market cap of $93.70 billion, a P/E ratio of 21.80, a P/E/G ratio of 2.15 and a beta of 0.34. General Dynamics has a twelve month low of $267.39 and a twelve month high of $369.70. The stock has a 50 day moving average of $345.45 and a two-hundred day moving average of $346.69. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.24.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.67 by $0.43. The business had revenue of $13.48 billion for the quarter, compared to analysts’ expectations of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.66 EPS. On average, research analysts forecast that General Dynamics will post 16.62 earnings per share for the current year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Friday, April 10th were given a $1.59 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $1.50. This represents a $6.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, April 10th. General Dynamics’s dividend payout ratio (DPR) is presently 40.03%.

Insider Activity

In related news, EVP Mark Lagrand Burns sold 10,153 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $354.95, for a total transaction of $3,603,807.35. Following the sale, the executive vice president owned 38,975 shares in the company, valued at approximately $13,834,176.25. This trade represents a 20.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marguerite Amy Gilliland sold 3,819 shares of General Dynamics stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $353.50, for a total transaction of $1,350,016.50. Following the completion of the sale, the executive vice president directly owned 44,767 shares of the company’s stock, valued at $15,825,134.50. The trade was a 7.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 51,260 shares of company stock worth $18,133,971 in the last three months. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On General Dynamics

Several large investors have recently added to or reduced their stakes in the business. Dunhill Financial LLC lifted its holdings in shares of General Dynamics by 620.0% during the 3rd quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 62 shares during the period. KERR FINANCIAL PLANNING Corp acquired a new position in General Dynamics during the third quarter worth approximately $25,000. Dagco Inc. purchased a new position in General Dynamics during the fourth quarter worth approximately $25,000. Whipplewood Advisors LLC boosted its holdings in shares of General Dynamics by 1,725.0% in the 1st quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 69 shares during the last quarter. Finally, Burkett Financial Services LLC boosted its holdings in shares of General Dynamics by 650.0% in the 3rd quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 65 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

About General Dynamics

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.