General Dynamics Co. (NYSE:GD) Receives $297.71 Consensus PT from Analysts

Shares of General Dynamics Co. (NYSE:GD) have been assigned a consensus rating of “Hold” from the twenty-one brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $297.71.

Several analysts recently commented on the company. Wolfe Research downgraded General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. William Blair downgraded General Dynamics from an “outperform” rating to a “market perform” rating in a research note on Friday, February 21st. Deutsche Bank Aktiengesellschaft dropped their price objective on General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Jefferies Financial Group reissued a “hold” rating and issued a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group dropped their price target on General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a research note on Tuesday, January 28th.

General Dynamics Stock Performance

GD stock opened at $265.33 on Tuesday. The company has a market cap of $71.73 billion, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. General Dynamics has a twelve month low of $239.87 and a twelve month high of $316.90. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The business’s fifty day moving average is $258.04 and its 200-day moving average is $278.54.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. Equities research analysts forecast that General Dynamics will post 14.83 EPS for the current year.

General Dynamics declared that its board has approved a share repurchase program on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be issued a $1.50 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, April 11th. This represents a $6.00 annualized dividend and a dividend yield of 2.26%. General Dynamics’s dividend payout ratio (DPR) is presently 43.99%.

Insider Buying and Selling

In related news, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the transaction, the director now owns 11,175 shares in the company, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the transaction, the senior vice president now owns 45,192 shares of the company’s stock, valued at $12,297,195.12. The trade was a 37.88 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On General Dynamics

Hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC lifted its position in General Dynamics by 15.3% during the fourth quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock worth $2,553,000 after acquiring an additional 1,283 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in General Dynamics by 67.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after acquiring an additional 3,448 shares during the last quarter. Kentucky Trust Co acquired a new stake in General Dynamics during the fourth quarter worth approximately $607,000. Oppenheimer & Co. Inc. lifted its position in General Dynamics by 10.0% during the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock worth $11,204,000 after acquiring an additional 3,363 shares during the last quarter. Finally, Hickory Point Bank & Trust acquired a new stake in General Dynamics during the fourth quarter worth approximately $692,000. 86.14% 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 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.