General Dynamics (NYSE:GD) Price Target Cut to $160.00 by Analysts at Stifel Nicolaus

General Dynamics (NYSE:GD) had its target price trimmed by Stifel Nicolaus from $180.00 to $160.00 in a research note released on Thursday morning, BenzingaRatingsTable reports. The firm currently has a hold rating on the aerospace company’s stock.

GD has been the subject of several other research reports. Morgan Stanley increased their price target on shares of General Dynamics from $146.00 to $151.00 and gave the company an underweight rating in a research note on Tuesday, April 14th. Argus decreased their price target on shares of General Dynamics from $199.00 to $155.00 and set a buy rating for the company in a research report on Wednesday, May 6th. Credit Suisse Group decreased their price target on shares of General Dynamics from $191.00 to $153.00 and set a neutral rating for the company in a research report on Thursday, April 30th. TheStreet lowered shares of General Dynamics from a b- rating to a c+ rating in a report on Thursday, July 9th. Finally, Citigroup upgraded shares of General Dynamics from a neutral rating to a buy rating and reduced their price objective for the company from $185.00 to $170.00 in a report on Monday, April 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $183.57.

Shares of GD traded down $2.12 during mid-day trading on Thursday, hitting $146.74. 1,659,624 shares of the company were exchanged, compared to its average volume of 1,125,946. General Dynamics has a 1-year low of $100.55 and a 1-year high of $193.76. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 1.27. The company has a 50 day moving average of $148.68 and a 200-day moving average of $151.85. The stock has a market cap of $42.09 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 2.46 and a beta of 1.05.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, July 29th. The aerospace company reported $2.18 EPS for the quarter, beating the Zacks’ consensus estimate of $2.15 by $0.03. The company had revenue of $9.26 billion during the quarter, compared to the consensus estimate of $9.03 billion. General Dynamics had a net margin of 8.47% and a return on equity of 24.10%. General Dynamics’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.77 EPS. Research analysts anticipate that General Dynamics will post 11.12 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 3rd will be paid a dividend of $1.10 per share. The ex-dividend date is Wednesday, July 1st. This represents a $4.40 annualized dividend and a yield of 3.00%. General Dynamics’s dividend payout ratio is currently 36.73%.

A number of large investors have recently made changes to their positions in GD. Wellington Management Group LLP increased its position in General Dynamics by 16.3% during the first quarter. Wellington Management Group LLP now owns 15,587,245 shares of the aerospace company’s stock worth $2,062,349,000 after purchasing an additional 2,180,725 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in General Dynamics by 594.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,563,512 shares of the aerospace company’s stock valued at $206,868,000 after acquiring an additional 1,338,415 shares during the last quarter. Franklin Resources Inc. boosted its stake in General Dynamics by 22.9% during the 1st quarter. Franklin Resources Inc. now owns 4,678,144 shares of the aerospace company’s stock valued at $618,966,000 after acquiring an additional 872,906 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in General Dynamics by 21.0% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,665,897 shares of the aerospace company’s stock valued at $617,345,000 after acquiring an additional 808,400 shares during the last quarter. Finally, Cullen Capital Management LLC bought a new position in General Dynamics during the 1st quarter valued at $70,121,000. Hedge funds and other institutional investors own 85.57% of the company’s stock.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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Analyst Recommendations for General Dynamics (NYSE:GD)

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