General Dynamics (GD) Price Target Cut to $216.00
General Dynamics (NYSE:GD) had its target price lowered by Credit Suisse Group from $229.00 to $216.00 in a report released on Thursday morning, The Fly reports. The brokerage currently has an outperform rating on the aerospace company’s stock.
A number of other analysts have also weighed in on GD. Zacks Investment Research lowered General Dynamics from a hold rating to a sell rating in a research note on Monday, July 2nd. ValuEngine raised General Dynamics from a sell rating to a hold rating in a research note on Saturday, July 28th. Bank of America set a $275.00 price target on General Dynamics and gave the stock a buy rating in a research note on Tuesday, July 31st. UBS Group started coverage on General Dynamics in a research note on Wednesday, August 15th. They issued a neutral rating and a $210.00 price target for the company. Finally, Drexel Hamilton reaffirmed a buy rating and issued a $230.00 price target on shares of General Dynamics in a research note on Thursday, August 16th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. General Dynamics presently has an average rating of Hold and an average price target of $231.00.
Shares of NYSE:GD traded down $0.74 during trading on Thursday, reaching $169.86. 2,877,197 shares of the company traded hands, compared to its average volume of 1,551,256. The firm has a market cap of $50.30 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 1.36 and a beta of 0.78. General Dynamics has a 52-week low of $167.27 and a 52-week high of $230.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.84 and a current ratio of 1.27.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Shareholders of record on Friday, October 5th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, October 4th. General Dynamics’s dividend payout ratio is currently 37.39%.
In other General Dynamics news, insider S. Daniel Johnson sold 77,810 shares of the firm’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $199.85, for a total transaction of $15,550,328.50. Following the completion of the transaction, the insider now owns 99,333 shares of the company’s stock, valued at $19,851,700.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Patrick Casey sold 22,500 shares of the firm’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $193.28, for a total value of $4,348,800.00. Following the transaction, the insider now directly owns 118,555 shares of the company’s stock, valued at approximately $22,914,310.40. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
A number of institutional investors have recently made changes to their positions in GD. Adirondack Trust Co. increased its holdings in shares of General Dynamics by 20.0% during the second quarter. Adirondack Trust Co. now owns 1,600 shares of the aerospace company’s stock valued at $298,000 after acquiring an additional 267 shares in the last quarter. Pittenger & Anderson Inc. increased its holdings in shares of General Dynamics by 1.0% during the third quarter. Pittenger & Anderson Inc. now owns 26,283 shares of the aerospace company’s stock valued at $5,381,000 after acquiring an additional 267 shares in the last quarter. Bigelow Investment Advisors LLC increased its holdings in General Dynamics by 6.0% in the 2nd quarter. Bigelow Investment Advisors LLC now owns 4,751 shares of the aerospace company’s stock worth $886,000 after buying an additional 268 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in General Dynamics by 1.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 27,116 shares of the aerospace company’s stock worth $5,054,000 after buying an additional 275 shares in the last quarter. Finally, Westbourne Investment Advisors Inc. increased its holdings in General Dynamics by 15.0% in the 3rd quarter. Westbourne Investment Advisors Inc. now owns 2,110 shares of the aerospace company’s stock worth $432,000 after buying an additional 275 shares in the last quarter. 85.47% of the stock is owned by institutional investors and hedge funds.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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