General Dynamics Corp. (NYSE:GD) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday. They presently have a $168.30 target price on the stock. Vetr‘s target price points to a potential downside of 2.20% from the stock’s current price.
GD has been the topic of a number of other reports. Jefferies Group reaffirmed a “buy” rating and set a $175.00 price objective (up from $167.00) on shares of General Dynamics Corp. in a research note on Friday, October 28th. Citigroup Inc. increased their target price on shares of General Dynamics Corp. from $162.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Deutsche Bank AG reiterated a “hold” rating on shares of General Dynamics Corp. in a report on Tuesday, October 18th. Zacks Investment Research lowered shares of General Dynamics Corp. from a “buy” rating to a “hold” rating in a report on Monday, October 17th. Finally, Robert W. Baird began coverage on shares of General Dynamics Corp. in a report on Thursday, October 6th. They set an “outperform” rating and a $181.00 target price for the company. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $161.37.
Shares of General Dynamics Corp. (NYSE:GD) traded up 0.90% on Monday, reaching $172.08. The company had a trading volume of 627,023 shares. The stock has a market cap of $52.30 billion, a PE ratio of 18.42 and a beta of 0.69. General Dynamics Corp. has a 12 month low of $121.61 and a 12 month high of $172.23. The stock has a 50-day moving average price of $156.87 and a 200-day moving average price of $149.06.
General Dynamics Corp. (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $2.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.38 by $0.10. General Dynamics Corp. had a return on equity of 27.68% and a net margin of 9.45%. The firm had revenue of $7.73 billion for the quarter, compared to analysts’ expectations of $7.91 billion. During the same period last year, the firm earned $2.28 earnings per share. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. Analysts predict that General Dynamics Corp. will post $9.77 earnings per share for the current fiscal year.
In related news, VP Kimberly A. Kuryea sold 4,117 shares of the firm’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $154.56, for a total transaction of $636,323.52. Following the completion of the sale, the vice president now owns 36,412 shares of the company’s stock, valued at $5,627,838.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert W. Helm sold 87,790 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $150.91, for a total transaction of $13,248,388.90. Following the sale, the insider now directly owns 157,176 shares of the company’s stock, valued at approximately $23,719,430.16. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company’s stock.
Several large investors have recently made changes to their positions in GD. Waters Parkerson & CO. LLC purchased a new stake in shares of General Dynamics Corp. during the second quarter valued at $355,000. Bridgeway Capital Management Inc. increased its stake in shares of General Dynamics Corp. by 9.1% in the second quarter. Bridgeway Capital Management Inc. now owns 185,159 shares of the company’s stock valued at $25,782,000 after buying an additional 15,500 shares during the period. RS Investment Management Co. LLC purchased a new stake in shares of General Dynamics Corp. during the second quarter valued at $23,540,000. Polaris Greystone Financial Group LLC bought a new stake in General Dynamics Corp. during the second quarter worth approximately $13,381,000. Finally, Foundry Partners LLC increased its stake in General Dynamics Corp. by 9.0% in the third quarter. Foundry Partners LLC now owns 94,102 shares of the company’s stock worth $14,601,000 after buying an additional 7,786 shares during the period. 88.38% of the stock is owned by institutional investors.
General Dynamics Corp. Company Profile
General Dynamics Corporation is an aerospace and defense company that offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions and information technology (IT) services, and shipbuilding.