General Dynamics Corp. (GD) Hits New 12-Month High at $153.93
General Dynamics Corp. (NYSE:GD) reached a new 52-week high during trading on Friday . The stock traded as high as $153.93 and last traded at $153.51, with a volume of 464,949 shares traded. The stock had previously closed at $152.84.
Several research firms recently commented on GD. Vetr downgraded shares of General Dynamics Corp. from a “strong-buy” rating to a “buy” rating and set a $162.90 target price on the stock. in a research report on Tuesday, May 10th. Deutsche Bank AG reiterated a “hold” rating and set a $152.00 target price on shares of General Dynamics Corp. in a research report on Thursday, May 19th. Cowen and Company reiterated a “buy” rating on shares of General Dynamics Corp. in a research report on Tuesday, May 17th. Jefferies Group reiterated a “buy” rating and set a $167.00 target price on shares of General Dynamics Corp. in a research report on Thursday, July 28th. Finally, Argus lifted their target price on shares of General Dynamics Corp. from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $156.31.
The company’s 50 day moving average price is $149.10 and its 200 day moving average price is $140.78. The firm has a market capitalization of $46.83 billion and a price-to-earnings ratio of 16.36.
General Dynamics Corp. (NYSE:GD) last released its quarterly earnings data on Wednesday, July 27th. The company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.13. During the same period last year, the company posted $2.27 EPS. The company had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.88 billion. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities research analysts forecast that General Dynamics Corp. will post $9.73 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.98%.
In other news, insider Mark C. Roualet sold 40,780 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $151.26, for a total transaction of $6,168,382.80. Following the completion of the sale, the insider now owns 135,905 shares of the company’s stock, valued at $20,556,990.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John Patrick Casey sold 57,490 shares of the 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 sale, the insider now directly owns 165,118 shares of the company’s stock, valued at approximately $24,265,741.28. The disclosure for this sale can be found here.
An institutional investor recently raised its position in General Dynamics Corp. stock. American International Group Inc. increased its position 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 fund 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.
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