Argus Increases General Dynamics (NYSE:GD) Price Target to $310.00

General Dynamics (NYSE:GD) had its price target lifted by stock analysts at Argus from $290.00 to $310.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the aerospace company’s stock. Argus’ price target would suggest a potential upside of 7.11% from the company’s previous close.

A number of other brokerages also recently issued reports on GD. The Goldman Sachs Group boosted their price target on shares of General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Wells Fargo & Company boosted their price target on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Jefferies Financial Group upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $305.00 to $335.00 in a research note on Monday. Royal Bank of Canada reduced their target price on shares of General Dynamics from $325.00 to $320.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Barclays upped their target price on shares of General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $297.06.

General Dynamics Stock Performance

NYSE:GD traded up $5.01 during mid-day trading on Monday, reaching $289.42. 291,986 shares of the company’s stock were exchanged, compared to its average volume of 1,101,809. General Dynamics has a one year low of $202.35 and a one year high of $296.50. The firm has a market capitalization of $79.41 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 1.77 and a beta of 0.68. The business’s fifty day simple moving average is $280.86 and its two-hundred day simple moving average is $262.05. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.87 and a current ratio of 1.44.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The firm had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.26 billion. During the same period in the prior year, the business earned $2.64 earnings per share. General Dynamics’s quarterly revenue was up 8.6% compared to the same quarter last year. Analysts anticipate that General Dynamics will post 14.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On General Dynamics

Several institutional investors and hedge funds have recently added to or reduced their stakes in GD. Weatherly Asset Management L. P. increased its holdings in General Dynamics by 3.3% in the 1st quarter. Weatherly Asset Management L. P. now owns 29,729 shares of the aerospace company’s stock worth $8,398,000 after buying an additional 963 shares in the last quarter. Conning Inc. increased its holdings in General Dynamics by 4.3% in the 1st quarter. Conning Inc. now owns 129,702 shares of the aerospace company’s stock worth $36,564,000 after buying an additional 5,387 shares in the last quarter. Trueblood Wealth Management LLC boosted its position in General Dynamics by 4.3% in the first quarter. Trueblood Wealth Management LLC now owns 2,168 shares of the aerospace company’s stock worth $612,000 after purchasing an additional 89 shares during the last quarter. UMB Bank n.a. boosted its position in General Dynamics by 1,408.8% in the first quarter. UMB Bank n.a. now owns 36,363 shares of the aerospace company’s stock worth $10,272,000 after purchasing an additional 33,953 shares during the last quarter. Finally, Narwhal Capital Management boosted its position in General Dynamics by 26.1% in the first quarter. Narwhal Capital Management now owns 32,593 shares of the aerospace company’s stock worth $9,207,000 after purchasing an additional 6,739 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.