General Dynamics Corp. (GD) Sets New 52-Week High at $153.93
General Dynamics Corp. (NYSE:GD) reached a new 52-week high during trading on Friday . The company traded as high as $153.93 and last traded at $153.51, with a volume of 464,949 shares trading hands. The stock had previously closed at $152.84.
GD has been the topic of a number of analyst reports. Cowen and Company reaffirmed a “buy” rating on shares of General Dynamics Corp. in a research note on Tuesday, May 17th. Vetr lowered shares of General Dynamics Corp. from a “strong-buy” rating to a “buy” rating and set a $162.90 price objective on the stock. in a research note on Tuesday, May 10th. Jefferies Group reaffirmed a “buy” rating and issued a $167.00 price objective on shares of General Dynamics Corp. in a research note on Thursday, July 28th. Zacks Investment Research raised shares of General Dynamics Corp. from a “hold” rating to a “buy” rating and set a $159.00 price objective on the stock in a research note on Monday, July 18th. Finally, Argus upped their price objective on shares of General Dynamics Corp. from $160.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $156.31.
The stock has a market capitalization of $46.69 billion and a PE ratio of 16.31. The stock has a 50 day moving average of $148.78 and a 200-day moving average of $140.68.
General Dynamics Corp. (NYSE:GD) last issued its earnings results on Wednesday, July 27th. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.13. During the same quarter in the prior year, the business posted $2.27 EPS. The firm earned $7.66 billion during the quarter, compared to the consensus estimate of $7.88 billion. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts expect that General Dynamics Corp. will post $9.73 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 1.99%.
In other news, insider John Patrick Casey sold 57,490 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $146.96, for a total value of $8,448,730.40. Following the transaction, the insider now owns 165,118 shares in the company, valued at $24,265,741.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Gregory S. Gallopoulos sold 39,000 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $146.58, for a total transaction of $5,716,620.00. Following the completion of the transaction, the vice president now owns 153,848 shares in the company, valued at approximately $22,551,039.84. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in General Dynamics Corp. stock. American International Group Inc. boosted its stake in shares of General Dynamics Corp. (NYSE:GD) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,461 shares of the company’s stock after buying an additional 389 shares during the period. American International Group Inc.’s holdings in General Dynamics Corp. were worth $16,959,000 at the end of the most recent reporting period.
General Dynamics Corporation is an aerospace and defense company that offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions and information technology (IT) services, and shipbuilding.