Barclays initiated coverage on shares of General Dynamics (NYSE:GD) in a report issued on Thursday morning, Marketbeat reports. The brokerage issued an overweight rating and a $282.00 price target on the aerospace company’s stock.
Other equities analysts also recently issued research reports about the stock. Jefferies Group reissued a buy rating and set a $237.00 price objective on shares of General Dynamics in a research note on Monday, January 8th. Bank of America upped their price objective on shares of General Dynamics from $245.00 to $260.00 and gave the company a buy rating in a research note on Thursday, January 25th. Royal Bank of Canada set a $246.00 price objective on shares of General Dynamics and gave the company a buy rating in a research note on Tuesday, January 23rd. Zacks Investment Research raised shares of General Dynamics from a hold rating to a buy rating and set a $234.00 price objective on the stock in a research note on Friday, January 19th. Finally, Buckingham Research reissued a buy rating and set a $260.00 price objective (up previously from $230.00) on shares of General Dynamics in a research note on Tuesday, January 30th. Three analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. General Dynamics has a consensus rating of Hold and an average price target of $239.67.
Shares of NYSE GD opened at $220.90 on Thursday. General Dynamics has a 12-month low of $185.64 and a 12-month high of $230.00. The stock has a market capitalization of $65,592.72, a price-to-earnings ratio of 22.20, a price-to-earnings-growth ratio of 2.34 and a beta of 0.83. The company has a current ratio of 1.40, a quick ratio of 0.99 and a debt-to-equity ratio of 0.35.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 11th. Shareholders of record on Friday, April 13th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.72 dividend on an annualized basis and a yield of 1.68%. This is an increase from General Dynamics’s previous quarterly dividend of $0.84. General Dynamics’s dividend payout ratio (DPR) is currently 33.77%.
In other news, insider S. Daniel Johnson sold 3,933 shares of the stock in a transaction on Friday, March 9th. The shares were sold at an average price of $228.79, for a total value of $899,831.07. Following the completion of the sale, the insider now owns 66,363 shares of the company’s stock, valued at $15,183,190.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Gary L. Whited sold 5,977 shares of the stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $224.52, for a total transaction of $1,341,956.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,357 shares of company stock worth $6,715,463. 6.70% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Highlander Capital Management LLC increased its position in shares of General Dynamics by 101.4% in the fourth quarter. Highlander Capital Management LLC now owns 596 shares of the aerospace company’s stock worth $121,000 after acquiring an additional 300 shares in the last quarter. Resources Investment Advisors Inc. grew its holdings in General Dynamics by 92.3% during the 4th quarter. Resources Investment Advisors Inc. now owns 625 shares of the aerospace company’s stock valued at $127,000 after purchasing an additional 300 shares in the last quarter. We Are One Seven LLC acquired a new stake in General Dynamics during the 4th quarter valued at $128,000. NuWave Investment Management LLC acquired a new stake in General Dynamics during the 4th quarter valued at $130,000. Finally, Prime Capital Investment Advisors LLC acquired a new stake in General Dynamics during the 4th quarter valued at $134,000. 86.09% of the stock is owned by institutional investors.
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About General Dynamics
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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