General Dynamics (GD) Receives New Coverage from Analysts at Susquehanna Bancshares

Susquehanna Bancshares started coverage on shares of General Dynamics (NYSE:GD) in a report issued on Thursday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $175.00 price objective on the aerospace company’s stock.

Several other analysts have also recently issued reports on the stock. Cowen restated a buy rating and set a $253.00 target price on shares of General Dynamics in a research report on Monday, October 15th. Credit Suisse Group decreased their target price on shares of General Dynamics from $229.00 to $216.00 and set an outperform rating on the stock in a research report on Thursday, October 25th. Wells Fargo & Co decreased their target price on shares of General Dynamics from $250.00 to $210.00 and set an outperform rating on the stock in a research report on Thursday, October 25th. Barclays decreased their target price on shares of General Dynamics from $256.00 to $210.00 and set an overweight rating on the stock in a research report on Tuesday, December 4th. Finally, Morgan Stanley decreased their target price on shares of General Dynamics from $209.00 to $189.00 and set an underweight rating on the stock in a research report on Wednesday, November 14th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $220.32.

Shares of NYSE GD traded up $1.38 during mid-day trading on Thursday, hitting $163.81. 1,239,173 shares of the company’s stock traded hands, compared to its average volume of 1,350,547. The company has a current ratio of 1.27, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $47.65 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 1.29 and a beta of 1.09. General Dynamics has a 1 year low of $143.87 and a 1 year high of $230.00.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 24th. The aerospace company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.13. The firm had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $9.41 billion. General Dynamics had a net margin of 9.01% and a return on equity of 27.22%. The business’s revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.52 EPS. On average, equities analysts predict that General Dynamics will post 11.31 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Friday, January 18th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Thursday, January 17th. General Dynamics’s dividend payout ratio (DPR) is currently 37.39%.

In other General Dynamics news, insider John Patrick Casey sold 22,500 shares of the company’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $193.28, for a total value of $4,348,800.00. Following the transaction, the insider now directly owns 118,555 shares in the company, valued at approximately $22,914,310.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Catherine B. Reynolds bought 600 shares of the company’s stock in a transaction on Friday, December 7th. The stock was bought at an average price of $167.64 per share, for a total transaction of $100,584.00. Following the completion of the purchase, the director now directly owns 1,153 shares in the company, valued at $193,288.92. The disclosure for this purchase can be found here. Corporate insiders own 6.90% of the company’s stock.

A number of hedge funds have recently modified their holdings of GD. United Bank bought a new position in General Dynamics in the 2nd quarter worth about $614,000. Van ECK Associates Corp bought a new position in shares of General Dynamics during the second quarter valued at approximately $2,884,000. OppenheimerFunds Inc. boosted its stake in shares of General Dynamics by 62.6% during the second quarter. OppenheimerFunds Inc. now owns 19,738 shares of the aerospace company’s stock valued at $3,679,000 after purchasing an additional 7,598 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of General Dynamics during the second quarter valued at approximately $162,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of General Dynamics by 1,642.3% during the second quarter. Tower Research Capital LLC TRC now owns 7,283 shares of the aerospace company’s stock valued at $1,357,000 after purchasing an additional 6,865 shares in the last quarter. Institutional investors and hedge funds own 86.36% of the company’s stock.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.

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Analyst Recommendations for General Dynamics (NYSE:GD)

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