General Dynamics (NYSE:GD – Free Report) had its target price decreased by Deutsche Bank Aktiengesellschaft from $303.00 to $295.00 in a research report sent to investors on Thursday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the aerospace company’s stock.
A number of other analysts have also recently weighed in on the company. Sanford C. Bernstein lowered their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada lowered shares of General Dynamics from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $330.00 to $290.00 in a report on Thursday, December 19th. Susquehanna lifted their price target on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a report on Thursday, October 17th. Wells Fargo & Company decreased their price objective on shares of General Dynamics from $322.00 to $295.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Finally, Citigroup lifted their target price on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.19.
Get Our Latest Analysis on General Dynamics
General Dynamics Trading Down 0.9 %
General Dynamics (NYSE:GD – Get Free Report) last announced 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 return on equity of 16.59% and a net margin of 7.90%. The business had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter in the prior year, the business earned $3.04 EPS. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities research analysts forecast that General Dynamics will post 13.87 earnings per share for the current fiscal year.
General Dynamics announced that its board has authorized a share buyback program on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
General Dynamics Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.
Insider Buying and Selling at General Dynamics
In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the transaction, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.52% of the company’s stock.
Institutional Trading of General Dynamics
Hedge funds have recently modified their holdings of the company. Fifth Third Wealth Advisors LLC raised its stake in General Dynamics by 67.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after buying an additional 3,448 shares during the period. Olstein Capital Management L.P. raised its position in shares of General Dynamics by 36.4% during the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock worth $4,533,000 after purchasing an additional 4,000 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of General Dynamics by 10.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after purchasing an additional 3,363 shares in the last quarter. Lummis Asset Management LP grew its position in shares of General Dynamics by 32.6% in the 3rd quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock valued at $3,133,000 after purchasing an additional 2,551 shares during the period. Finally, Principal Financial Group Inc. increased its stake in General Dynamics by 17.5% during the 3rd quarter. Principal Financial Group Inc. now owns 297,577 shares of the aerospace company’s stock worth $89,928,000 after purchasing an additional 44,387 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.
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.
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