General Dynamics Co. (NYSE:GD) has received an average recommendation of “Hold” from the nineteen ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $193.58.
GD has been the subject of several analyst reports. Cowen set a $202.00 price target on shares of General Dynamics and gave the stock a “buy” rating in a research report on Friday, August 30th. Barclays set a $215.00 price objective on shares of General Dynamics and gave the company a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley decreased their price objective on shares of General Dynamics from $173.00 to $172.00 and set an “underweight” rating for the company in a report on Thursday, October 10th. Robert W. Baird boosted their price objective on shares of General Dynamics from $188.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, July 10th. Finally, Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price objective for the company in a report on Monday, September 2nd.
Shares of NYSE:GD traded up $1.02 during trading on Monday, hitting $175.45. 942,449 shares of the company’s stock were exchanged, compared to its average volume of 1,259,368. General Dynamics has a 1-year low of $143.87 and a 1-year high of $193.76. The firm has a 50-day moving average price of $183.69 and a two-hundred day moving average price of $178.90. The company has a current ratio of 1.09, a quick ratio of 0.73 and a debt-to-equity ratio of 0.70. The firm has a market cap of $50.82 billion, a P/E ratio of 15.36, a PEG ratio of 1.71 and a beta of 1.20.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 11th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, October 10th. General Dynamics’s dividend payout ratio is currently 35.73%.
In other news, Director William A. Osborn sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $182.56, for a total value of $273,840.00. Following the completion of the transaction, the director now owns 37,585 shares in the company, valued at $6,861,517.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher Marzilli sold 32,930 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $187.16, for a total transaction of $6,163,178.80. Following the completion of the transaction, the executive vice president now owns 100,557 shares of the company’s stock, valued at approximately $18,820,248.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,459 shares of company stock valued at $9,079,802. Corporate insiders own 7.10% of the company’s stock.
Several hedge funds have recently made changes to their positions in GD. Nuveen Asset Management LLC lifted its position in shares of General Dynamics by 852.6% in the second quarter. Nuveen Asset Management LLC now owns 1,044,973 shares of the aerospace company’s stock worth $189,997,000 after purchasing an additional 935,275 shares in the last quarter. Thoroughbred Financial Services LLC lifted its position in shares of General Dynamics by 18,507.6% in the second quarter. Thoroughbred Financial Services LLC now owns 926,285 shares of the aerospace company’s stock worth $92,628,000 after purchasing an additional 921,307 shares in the last quarter. Impala Asset Management LLC bought a new stake in shares of General Dynamics in the second quarter worth $94,759,000. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of General Dynamics by 11.4% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,748,497 shares of the aerospace company’s stock worth $681,552,000 after purchasing an additional 383,200 shares in the last quarter. Finally, Farallon Capital Management LLC lifted its position in shares of General Dynamics by 23.5% in the second quarter. Farallon Capital Management LLC now owns 1,335,214 shares of the aerospace company’s stock worth $242,769,000 after purchasing an additional 253,726 shares in the last quarter. 86.27% of the stock is currently owned by institutional investors and hedge funds.
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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