General Dynamics Co. (NYSE:GD) Receives $323.69 Consensus Price Target from Analysts

Shares of General Dynamics Co. (NYSE:GD) have been given an average recommendation of “Moderate Buy” by the eighteen analysts that are currently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $323.69.

A number of research analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Susquehanna lifted their price target on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their target price on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein cut their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th.

General Dynamics Trading Up 1.2 %

NYSE GD opened at $309.58 on Wednesday. The firm has a market cap of $85.13 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 1.78 and a beta of 0.61. General Dynamics has a 52 week low of $238.31 and a 52 week high of $313.11. 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 50 day moving average price of $301.62 and a 200 day moving average price of $295.58.

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 analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter last year, the business posted $3.04 earnings per share. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, sell-side analysts forecast that General Dynamics will post 13.97 EPS for the current fiscal year.

Insider Transactions at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On General Dynamics

A number of hedge funds have recently modified their holdings of GD. Olstein Capital Management L.P. raised its holdings in General Dynamics by 36.4% in the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after buying an additional 4,000 shares during the period. CWC Advisors LLC. acquired a new position in shares of General Dynamics in the 3rd quarter worth approximately $771,000. Kingsview Wealth Management LLC increased its holdings in General Dynamics by 87.6% in the 1st quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock valued at $4,150,000 after purchasing an additional 6,858 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in shares of General Dynamics in the first quarter valued at $493,000. Finally, Peak Financial Advisors LLC purchased a new position in General Dynamics during the 3rd quarter valued at about $3,022,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

About General Dynamics

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.