General Dynamics (NYSE:GD) Price Target Increased to $293.00 by Analysts at Morgan Stanley

General Dynamics (NYSE:GD) had its price target increased by equities researchers at Morgan Stanley from $271.00 to $293.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the aerospace company’s stock. Morgan Stanley’s price target suggests a potential upside of 3.21% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. The Goldman Sachs Group upped their target price on shares of General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Wells Fargo & Company raised their target price 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. Barclays boosted their price target on General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Citigroup upped their target price on General Dynamics from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, Jefferies Financial Group raised General Dynamics from a “hold” rating to a “buy” rating and raised their price target for the stock from $305.00 to $335.00 in a research note on Monday, April 29th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $307.94.

General Dynamics Trading Down 0.1 %

Shares of GD stock opened at $283.89 on Monday. The stock has a market cap of $77.89 billion, a P/E ratio of 23.16, a P/E/G ratio of 1.62 and a beta of 0.60. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. General Dynamics has a fifty-two week low of $212.58 and a fifty-two week high of $302.75. The business has a fifty day simple moving average of $293.54 and a 200-day simple moving average of $280.18.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The business had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.64 EPS. On average, analysts forecast that General Dynamics will post 14.55 earnings per share for the current fiscal year.

Insider Transactions at General Dynamics

In other General Dynamics news, VP William A. Moss sold 21,050 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $294.85, for a total value of $6,206,592.50. Following the transaction, the vice president now owns 16,624 shares of the company’s stock, valued at $4,901,586.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP William A. Moss sold 21,050 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $294.85, for a total value of $6,206,592.50. Following the completion of the transaction, the vice president now directly owns 16,624 shares in the company, valued at $4,901,586.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $284.50, for a total value of $14,182,325.00. Following the completion of the sale, the chief executive officer now owns 768,977 shares of the company’s stock, valued at $218,773,956.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 118,486 shares of company stock valued at $34,391,642. 1.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On General Dynamics

A number of institutional investors and hedge funds have recently bought and sold shares of GD. Redmont Wealth Advisors LLC acquired a new stake in General Dynamics during the first quarter valued at approximately $25,000. MeadowBrook Investment Advisors LLC acquired a new position in shares of General Dynamics in the 4th quarter worth $25,000. Richardson Financial Services Inc. acquired a new stake in shares of General Dynamics during the fourth quarter worth $25,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of General Dynamics during the first quarter valued at $29,000. Finally, New Covenant Trust Company N.A. acquired a new position in shares of General Dynamics in the 1st quarter valued at $29,000. 86.14% of the stock is owned by institutional investors and hedge funds.

About General Dynamics

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.