General Dynamics (NYSE:GD) Given New $364.00 Price Target at Citigroup

General Dynamics (NYSE:GD) had its price objective reduced by Citigroup from $380.00 to $364.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage presently has a “neutral” rating on the aerospace company’s stock. Citigroup’s price objective suggests a potential upside of 7.62% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Bank of America reaffirmed a “buy” rating and set a $400.00 price target on shares of General Dynamics in a research report on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of General Dynamics in a report on Tuesday, April 21st. Wells Fargo & Company assumed coverage on General Dynamics in a report on Wednesday, April 1st. They set an “overweight” rating and a $400.00 price objective for the company. Wall Street Zen raised General Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $385.00 target price on shares of General Dynamics in a report on Thursday, April 30th. Two investment 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $387.40.

General Dynamics Trading Up 1.1%

NYSE GD traded up $3.74 during trading hours on Monday, hitting $338.24. 16,418 shares of the company’s stock were exchanged, compared to its average volume of 1,419,914. The business’s 50 day moving average is $343.59 and its 200-day moving average is $346.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.90 and a current ratio of 1.38. General Dynamics has a 12-month low of $268.10 and a 12-month high of $369.70. The firm has a market capitalization of $91.47 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 2.07 and a beta of 0.34.

General Dynamics (NYSE:GD) last posted its quarterly earnings data 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 company had revenue of $13.48 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.66 EPS. As a group, analysts anticipate that General Dynamics will post 16.62 EPS for the current fiscal year.

Insider Activity

In related news, EVP Mark Lagrand Burns sold 36,480 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $345.29, for a total transaction of $12,596,179.20. Following the sale, the executive vice president owned 38,975 shares of the company’s stock, valued at $13,457,677.75. This trade represents a 48.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Phebe N. Novakovic sold 32,918 shares of General Dynamics stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $354.09, for a total value of $11,655,934.62. Following the sale, the chief executive officer directly owned 766,457 shares in the company, valued at $271,394,759.13. The trade was a 4.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 119,600 shares of company stock worth $41,650,580. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On General Dynamics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dunhill Financial LLC increased its position in General Dynamics by 620.0% during the 3rd quarter. Dunhill Financial LLC now owns 72 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 62 shares during the period. KERR FINANCIAL PLANNING Corp acquired a new position in shares of General Dynamics in the 3rd quarter worth approximately $25,000. Whipplewood Advisors LLC boosted its stake 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. Dagco Inc. acquired a new stake in shares of General Dynamics during the fourth quarter worth $25,000. Finally, Burkett Financial Services LLC raised its stake in General Dynamics by 650.0% during the third quarter. Burkett Financial Services LLC now owns 75 shares of the aerospace company’s stock worth $26,000 after buying an additional 65 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

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.