General Dynamics Corp. (GD) Hits New 52-Week High at $153.80
Shares of General Dynamics Corp. (NYSE:GD) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $153.80 and last traded at $153.49, with a volume of 747,548 shares trading hands. The stock had previously closed at $151.47.
Several analysts recently weighed in on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $168.00 price objective (up from $166.00) on shares of General Dynamics Corp. in a report on Thursday, April 28th. Goldman Sachs Group Inc. decreased their price objective on General Dynamics Corp. from $151.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, May 2nd. Barclays PLC lifted their price objective on General Dynamics Corp. from $157.00 to $161.00 and gave the company an “overweight” rating in a report on Monday, May 2nd. Vetr downgraded General Dynamics Corp. from a “strong-buy” rating to a “buy” rating and set a $162.90 price objective for the company. in a report on Tuesday, May 10th. Finally, Cowen and Company restated a “buy” rating on shares of General Dynamics Corp. in a report on Tuesday, May 17th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $156.31.
The company’s 50 day moving average price is $144.55 and its 200 day moving average price is $139.08. The stock has a market cap of $46.40 billion and a PE ratio of 16.21.
General Dynamics Corp. (NYSE:GD) last announced its earnings results on Wednesday, July 27th. The company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.13. The firm had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.88 billion. The business’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.27 earnings per share. Equities research analysts expect that General Dynamics Corp. will post $9.73 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 1.99%.
In related news, insider Mark C. Roualet sold 40,780 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 135,905 shares in the company, valued at approximately $20,556,990.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gregory S. Gallopoulos sold 39,000 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $146.58, for a total value of $5,716,620.00. Following the transaction, the vice president now owns 153,848 shares of the company’s stock, valued at $22,551,039.84. The disclosure for this sale can be found here.
A number of institutional investors have recently made changes to their positions in GD. Bridgewater Associates LP purchased a new position in shares of General Dynamics Corp. during the fourth quarter worth approximately $1,029,000. Venturi Wealth Management LLC bought a new position in shares of General Dynamics Corp. during the fourth quarter valued at about $4,108,000. American International Group Inc. boosted its position in shares of General Dynamics Corp. by 0.3% in the fourth quarter. American International Group Inc. now owns 123,461 shares of the company’s stock valued at $16,959,000 after buying an additional 389 shares during the last quarter. Foresters Investment Management Company Inc. boosted its position in shares of General Dynamics Corp. by 11.3% in the fourth quarter. Foresters Investment Management Company Inc. now owns 23,600 shares of the company’s stock valued at $3,242,000 after buying an additional 2,400 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of General Dynamics Corp. by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 656,153 shares of the company’s stock valued at $90,129,000 after buying an additional 27,265 shares during the last quarter.
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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