General Dynamics (NYSE:GD) Given New $218.00 Price Target at Robert W. Baird

General Dynamics (NYSE:GD) had its price target boosted by Robert W. Baird from $188.00 to $218.00 in a research note released on Wednesday, The Fly reports. Robert W. Baird currently has an outperform rating on the aerospace company’s stock.

A number of other research firms have also weighed in on GD. Goldman Sachs Group raised shares of General Dynamics from a neutral rating to a buy rating and set a $204.00 price target on the stock in a research report on Sunday, May 19th. JPMorgan Chase & Co. reissued a hold rating and set a $7.00 price target on shares of Deutsche Bank in a research report on Thursday, April 25th. ValuEngine lowered shares of Universal Electronics from a strong-buy rating to a buy rating in a research report on Thursday, June 6th. Zacks Investment Research raised shares of Global Ship Lease from a hold rating to a strong-buy rating and set a $7.75 price target on the stock in a research report on Monday, June 3rd. Finally, UBS Group reissued a buy rating and set a $124.00 price target on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. General Dynamics currently has an average rating of Hold and an average price target of $196.00.

Shares of GD traded up $1.06 during trading hours on Wednesday, reaching $183.60. 707,900 shares of the stock traded hands, compared to its average volume of 1,305,219. The company has a current ratio of 1.23, a quick ratio of 0.82 and a debt-to-equity ratio of 0.94. The stock has a fifty day moving average price of $173.40. General Dynamics has a 52 week low of $143.87 and a 52 week high of $207.72. The stock has a market cap of $51.85 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 1.74 and a beta of 1.20.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.18. General Dynamics had a net margin of 8.68% and a return on equity of 27.62%. The company had revenue of $9.26 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period last year, the firm earned $2.65 earnings per share. The firm’s revenue was up 22.9% on a year-over-year basis. As a group, sell-side analysts expect that General Dynamics will post 11.76 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a $1.02 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $4.08 annualized dividend and a dividend yield of 2.22%. General Dynamics’s payout ratio is 35.73%.

In other news, EVP John Patrick Casey sold 45,470 shares of General Dynamics stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $172.46, for a total value of $7,841,756.20. Following the completion of the transaction, the executive vice president now owns 148,133 shares in the company, valued at $25,547,017.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.10% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of GD. Capital Investment Advisory Services LLC grew its stake in General Dynamics by 10.2% during the first quarter. Capital Investment Advisory Services LLC now owns 657 shares of the aerospace company’s stock valued at $111,000 after acquiring an additional 61 shares in the last quarter. Weatherstone Capital Management grew its stake in General Dynamics by 2.9% during the first quarter. Weatherstone Capital Management now owns 2,224 shares of the aerospace company’s stock valued at $376,000 after acquiring an additional 63 shares in the last quarter. National Asset Management Inc. grew its stake in General Dynamics by 2.1% during the first quarter. National Asset Management Inc. now owns 3,029 shares of the aerospace company’s stock valued at $513,000 after acquiring an additional 63 shares in the last quarter. Carroll Financial Associates Inc. grew its stake in General Dynamics by 4.6% during the second quarter. Carroll Financial Associates Inc. now owns 1,494 shares of the aerospace company’s stock valued at $271,000 after acquiring an additional 66 shares in the last quarter. Finally, Somerset Trust Co grew its stake in General Dynamics by 0.5% during the first quarter. Somerset Trust Co now owns 13,039 shares of the aerospace company’s stock valued at $2,208,000 after acquiring an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 86.45% of the company’s stock.

About General Dynamics

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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