General Dynamics (NYSE:GD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage presently has a $234.00 target price on the aerospace company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.61% from the stock’s current price.

According to Zacks, “General Dynamics is one of the only two contractors in the world equipped to build nuclear-powered submarines and its diverse portfolio of products and services along with its wide customer base provides it with an opportunity to generate solid revenues from different sources. The recent budgetary amendments in the country have been in favor of the company’s business line and the company continues to secure sizeable orders at regular intervals. However, General Dynamics operates in a highly competitive market and has to rely on other companies to provide materials, components and subsystems for its products. Moreover, the company underperformed the broader industry in last six months. Further, the company’s dependence on international sales for a major portion of its revenues exposes it to the risk of currency fluctuations.”

GD has been the subject of a number of other reports. Stifel Nicolaus increased their price target on General Dynamics from $200.00 to $210.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Deutsche Bank reiterated a “hold” rating and issued a $210.00 price target (up from $200.00) on shares of General Dynamics in a research note on Monday, October 2nd. Royal Bank of Canada set a $239.00 price target on General Dynamics and gave the company a “buy” rating in a research note on Wednesday, November 15th. ValuEngine cut General Dynamics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, Cowen reiterated a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a research note on Thursday, October 19th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. General Dynamics presently has a consensus rating of “Hold” and an average target price of $218.67.

General Dynamics (NYSE GD) opened at $207.80 on Friday. General Dynamics has a 12 month low of $172.43 and a 12 month high of $214.81. The company has a market capitalization of $62,050.00, a price-to-earnings ratio of 20.64, a PEG ratio of 2.25 and a beta of 0.72. The company has a quick ratio of 0.93, a current ratio of 1.37 and a debt-to-equity ratio of 0.34.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $2.52 EPS for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.09. General Dynamics had a return on equity of 27.98% and a net margin of 9.94%. The company had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $7.94 billion. During the same period in the prior year, the company earned $2.36 EPS. General Dynamics’s revenue was down 1.0% compared to the same quarter last year. sell-side analysts predict that General Dynamics will post 9.81 earnings per share for the current fiscal year.

In related news, VP Gregory S. Gallopoulos sold 78,370 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $202.93, for a total value of $15,903,624.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Patrick Casey sold 34,945 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total value of $7,037,224.10. Following the completion of the sale, the insider now owns 144,378 shares of the company’s stock, valued at $29,074,841.64. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.

A number of institutional investors have recently modified their holdings of GD. Janus Henderson Group PLC grew its holdings in General Dynamics by 44,941.4% during the 2nd quarter. Janus Henderson Group PLC now owns 4,998,693 shares of the aerospace company’s stock worth $990,241,000 after acquiring an additional 4,987,595 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in General Dynamics by 2,097.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,711,597 shares of the aerospace company’s stock worth $353,351,000 after acquiring an additional 1,633,700 shares during the period. BlackRock Inc. grew its holdings in General Dynamics by 5.3% during the 2nd quarter. BlackRock Inc. now owns 16,338,831 shares of the aerospace company’s stock worth $3,236,720,000 after acquiring an additional 829,487 shares during the period. Capital Research Global Investors grew its holdings in General Dynamics by 4.5% during the 2nd quarter. Capital Research Global Investors now owns 16,792,408 shares of the aerospace company’s stock worth $3,326,576,000 after acquiring an additional 725,896 shares during the period. Finally, Koch Industries Inc. acquired a new stake in General Dynamics during the 2nd quarter worth about $437,000. Hedge funds and other institutional investors own 86.76% of the company’s stock.

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General Dynamics Company Profile

General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.

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