General Dynamics Corporation (NYSE:GD) has been given a $239.00 price objective by Royal Bank Of Canada in a report issued on Wednesday. The firm presently has a “buy” rating on the aerospace company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 19.97% from the company’s previous close.
A number of other equities research analysts also recently weighed in on the stock. Credit Suisse Group reaffirmed an “outperform” rating and set a $238.00 price objective (up previously from $216.00) on shares of General Dynamics Corporation in a research report on Thursday, October 26th. ValuEngine raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub raised shares of General Dynamics Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. Stifel Nicolaus boosted their price objective on shares of General Dynamics Corporation from $200.00 to $210.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Finally, Zacks Investment Research downgraded shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $218.45.
Shares of General Dynamics Corporation (NYSE:GD) opened at $199.22 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.93 and a current ratio of 1.37. General Dynamics Corporation has a 1 year low of $164.97 and a 1 year high of $214.81. The firm has a market cap of $59,415.02, a PE ratio of 19.76, a P/E/G ratio of 2.39 and a beta of 0.73.
General Dynamics Corporation (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. General Dynamics Corporation had a net margin of 9.94% and a return on equity of 27.98%. The business had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $7.94 billion. During the same quarter in the prior year, the firm earned $2.36 EPS. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. research analysts expect that General Dynamics Corporation will post 9.81 earnings per share for the current year.
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In other news, insider John Patrick Casey sold 34,945 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total value of $7,037,224.10. Following the completion of the sale, the insider now directly owns 144,378 shares of the company’s stock, valued at approximately $29,074,841.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $202.93, for a total transaction of $15,903,624.10. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in GD. Quadrant Capital Group LLC lifted its stake in General Dynamics Corporation by 6.1% during the second quarter. Quadrant Capital Group LLC now owns 645 shares of the aerospace company’s stock valued at $110,000 after purchasing an additional 37 shares during the last quarter. Vantage Investment Advisors LLC lifted its stake in General Dynamics Corporation by 9.3% during the second quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock valued at $116,000 after purchasing an additional 50 shares during the last quarter. Captrust Financial Advisors acquired a new stake in General Dynamics Corporation during the second quarter valued at approximately $129,000. WFG Advisors LP lifted its stake in General Dynamics Corporation by 0.3% during the second quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock valued at $132,000 after purchasing an additional 2 shares during the last quarter. Finally, Zions Bancorporation lifted its stake in General Dynamics Corporation by 0.5% during the first quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock valued at $137,000 after purchasing an additional 4 shares during the last quarter. 85.79% of the stock is owned by institutional investors and hedge funds.
About General Dynamics Corporation
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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