General Dynamics (NYSE:GD) Rating Increased to Strong-Buy at TD Cowen

TD Cowen upgraded shares of General Dynamics (NYSE:GDFree Report) to a strong-buy rating in a research report released on Tuesday, Zacks.com reports.

Several other brokerages have also issued reports on GD. Robert W. Baird reissued an outperform rating and set a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. BTIG Research assumed coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a buy rating and a $345.00 target price for the company. Royal Bank of Canada reaffirmed an outperform rating and issued a $320.00 target price on shares of General Dynamics in a research report on Thursday, July 25th. Morgan Stanley upgraded General Dynamics from an equal weight rating to an overweight rating and increased their price target for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on General Dynamics from $320.00 to $314.00 and set a hold rating for the company in a report on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $319.06.

View Our Latest Analysis on GD

General Dynamics Stock Performance

General Dynamics stock opened at $299.44 on Tuesday. The business has a 50 day moving average of $297.56 and a 200-day moving average of $293.37. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. General Dynamics has a 1 year low of $232.29 and a 1 year high of $309.97. The company has a market capitalization of $82.28 billion, a P/E ratio of 23.36, a P/E/G ratio of 1.67 and a beta of 0.61.

General Dynamics (NYSE:GDGet Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The company had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.70 earnings per share. On average, equities research analysts predict that General Dynamics will post 14.38 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 44.31%.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Dynamics

Several hedge funds have recently bought and sold shares of GD. Grove Bank & Trust raised its holdings in shares of General Dynamics by 10.6% in the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock valued at $107,000 after acquiring an additional 34 shares in the last quarter. Modera Wealth Management LLC lifted its position in General Dynamics by 0.4% during the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after purchasing an additional 35 shares during the last quarter. Rathbones Group PLC increased its holdings in shares of General Dynamics by 1.8% in the 2nd quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock worth $587,000 after buying an additional 35 shares during the last quarter. Legend Financial Advisors Inc. raised its position in shares of General Dynamics by 46.8% during the 1st quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock valued at $32,000 after buying an additional 36 shares in the last quarter. Finally, Diversified Trust Co lifted its holdings in shares of General Dynamics by 2.5% during the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after acquiring an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Company Profile

(Get Free Report)

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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Analyst Recommendations for General Dynamics (NYSE:GD)

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