Royal Bank of Canada Increases General Dynamics (NYSE:GD) Price Target to $330.00

General Dynamics (NYSE:GD) had its price objective lifted by equities research analysts at Royal Bank of Canada from $320.00 to $330.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the aerospace company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 9.08% from the company’s current price.

Several other brokerages have also issued reports on GD. Deutsche Bank Aktiengesellschaft decreased their price objective on General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Wells Fargo & Company boosted their price objective on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday. BTIG Research began coverage on General Dynamics in a research report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective for the company. Finally, Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and an average target price of $323.88.

General Dynamics Price Performance

General Dynamics stock opened at $302.52 on Thursday. The firm has a market capitalization of $83.00 billion, a P/E ratio of 24.68, a PEG ratio of 1.67 and a beta of 0.61. General Dynamics has a 1 year low of $236.58 and a 1 year high of $313.11. The business has a 50-day moving average of $300.28 and a 200-day moving average of $294.60. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.04 earnings per share. On average, equities analysts anticipate that General Dynamics will post 14.38 EPS for the current year.

Insider Activity at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC grew its holdings in General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after buying an additional 58 shares in the last quarter. Redmont Wealth Advisors LLC acquired a new position in General Dynamics in the 1st quarter valued at $25,000. American Capital Advisory LLC acquired a new position in General Dynamics in the 2nd quarter valued at $29,000. Lowe Wealth Advisors LLC acquired a new stake in shares of General Dynamics during the 3rd quarter worth $30,000. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of General Dynamics during the 1st quarter worth $29,000. 86.14% of the stock is owned by institutional investors and hedge funds.

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.