General Dynamics Corp. (GD) Coverage Initiated at Robert W. Baird
Research analysts at Robert W. Baird assumed coverage on shares of General Dynamics Corp. (NYSE:GD) in a note issued to investors on Thursday. The firm set an “outperform” rating and a $181.00 price target on the stock. Robert W. Baird’s price target would suggest a potential upside of 18.33% from the company’s current price.
Several other brokerages also recently issued reports on GD. Deutsche Bank AG reaffirmed a “hold” rating on shares of General Dynamics Corp. in a research report on Friday, September 23rd. Citigroup Inc. raised their price target on General Dynamics Corp. from $162.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, September 6th. Argus raised their price target on General Dynamics Corp. from $160.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Sanford C. Bernstein raised General Dynamics Corp. from a “market perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a research report on Wednesday, August 10th. They noted that the move was a valuation call. Finally, Jefferies Group reaffirmed a “buy” rating on shares of General Dynamics Corp. in a research report on Wednesday, August 3rd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. General Dynamics Corp. has an average rating of “Buy” and a consensus price target of $159.27.
Shares of General Dynamics Corp. (NYSE:GD) opened at 152.96 on Thursday. The firm has a market capitalization of $46.57 billion, a PE ratio of 16.27 and a beta of 0.76. General Dynamics Corp. has a 12 month low of $121.61 and a 12 month high of $156.97. The stock’s 50 day moving average price is $152.96 and its 200-day moving average price is $143.96.
General Dynamics Corp. (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $2.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.13. The company had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.88 billion. General Dynamics Corp. had a return on equity of 27.74% and a net margin of 9.53%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the business posted $2.27 earnings per share. On average, equities analysts anticipate that General Dynamics Corp. will post $9.73 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Wednesday, October 5th. General Dynamics Corp.’s dividend payout ratio is 32.27%.
In other General Dynamics Corp. news, insider S. Daniel Johnson sold 33,650 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $147.91, for a total transaction of $4,977,171.50. Following the transaction, the insider now owns 107,922 shares of the company’s stock, valued at approximately $15,962,743.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Gregory S. Gallopoulos sold 39,000 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $146.58, for a total value of $5,716,620.00. Following the transaction, the vice president now directly owns 153,848 shares in the company, valued at approximately $22,551,039.84. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Iridian Asset Management LLC CT bought a new position in General Dynamics Corp. during the second quarter worth $213,226,000. Bank of Montreal Can bought a new position in General Dynamics Corp. during the second quarter worth $203,640,000. FMR LLC increased its position in General Dynamics Corp. by 19.1% in the second quarter. FMR LLC now owns 7,944,339 shares of the company’s stock worth $1,106,170,000 after buying an additional 1,274,336 shares during the period. Boston Partners increased its position in General Dynamics Corp. by 34.3% in the second quarter. Boston Partners now owns 4,303,966 shares of the company’s stock worth $599,284,000 after buying an additional 1,099,224 shares during the period. Finally, Emerald Acquisition Ltd. bought a new position in General Dynamics Corp. during the second quarter worth $98,739,000. 87.68% of the stock is currently owned by institutional investors.
About General Dynamics Corp.
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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