General Dynamics Co. (NYSE:GD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

General Dynamics Co. (NYSE:GD) has been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $293.43.

A number of brokerages recently issued reports on GD. Barclays increased their price objective on General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Wells Fargo & Company increased their price objective on General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. increased their price objective on General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a report on Thursday. Citigroup increased their price objective on General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday. Finally, UBS Group raised their price target on General Dynamics from $286.00 to $296.00 and gave the company a “neutral” rating in a report on Monday, January 29th.

General Dynamics Stock Down 0.2 %

GD stock opened at $284.41 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.44. The company has a market capitalization of $78.03 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 1.79 and a beta of 0.68. General Dynamics has a fifty-two week low of $202.35 and a fifty-two week high of $296.50. The stock has a fifty day moving average of $280.86 and a 200-day moving average of $261.71.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.89 by ($0.01). The company had revenue of $10.73 billion for the quarter, compared to analysts’ expectations of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the company posted $2.64 EPS. As a group, equities research analysts predict that General Dynamics will post 14.56 earnings per share for the current year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.00%. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date is Thursday, April 11th. General Dynamics’s dividend payout ratio (DPR) is currently 46.33%.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 32,355 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the transaction, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at approximately $204,569,860.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Dynamics

A number of large investors have recently modified their holdings of the company. Norges Bank purchased a new position in General Dynamics in the 4th quarter worth approximately $728,284,000. Wellington Management Group LLP increased its stake in General Dynamics by 12.0% in the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after purchasing an additional 1,755,276 shares during the period. International Assets Investment Management LLC increased its stake in General Dynamics by 10,763.2% in the 4th quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock worth $239,829,000 after purchasing an additional 915,091 shares during the period. Verity & Verity LLC purchased a new position in General Dynamics in the 1st quarter worth approximately $179,000. Finally, 1832 Asset Management L.P. increased its stake in General Dynamics by 3,645.4% in the 4th quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock worth $145,048,000 after purchasing an additional 543,672 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.