General Dynamics (NYSE:GD) Price Target Raised to $385.00

General Dynamics (NYSE:GD) had its price objective raised by JPMorgan Chase & Co. from $380.00 to $385.00 in a research report sent to investors on Friday morning, MarketBeat reports. They currently have an overweight rating on the aerospace company’s stock.

A number of other equities analysts have also commented on the stock. BNP Paribas Exane initiated coverage on shares of General Dynamics in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $410.00 price objective for the company. BNP Paribas upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday, November 18th. Vertical Research upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $400.00 price target on the stock in a report on Monday, October 27th. Morgan Stanley set a $385.00 price target on General Dynamics in a research report on Monday, October 27th. Finally, Bank of America raised their price objective on General Dynamics from $370.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $358.50.

General Dynamics Trading Up 0.7%

NYSE:GD opened at $339.59 on Friday. The stock has a fifty day simple moving average of $340.69 and a 200 day simple moving average of $321.31. The firm has a market capitalization of $91.73 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 1.69 and a beta of 0.40. General Dynamics has a 1-year low of $239.20 and a 1-year high of $360.50. The company has a quick ratio of 0.87, a current ratio of 1.40 and a debt-to-equity ratio of 0.29.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Friday, October 24th. The aerospace company reported $3.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.19. General Dynamics had a return on equity of 18.27% and a net margin of 8.18%.The firm had revenue of $12.91 billion for the quarter, compared to the consensus estimate of $12.49 billion. During the same quarter in the previous year, the company earned $3.35 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. General Dynamics has set its FY 2025 guidance at 15.300-15.35 EPS. Sell-side analysts forecast that General Dynamics will post 14.83 earnings per share for the current year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Friday, January 16th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, January 16th. General Dynamics’s payout ratio is currently 38.89%.

Insider Activity at General Dynamics

In related news, VP David Paddock sold 20,360 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $334.92, for a total value of $6,818,971.20. Following the transaction, the vice president owned 36,644 shares in the company, valued at approximately $12,272,808.48. This represents a 35.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GD. Vanguard Group Inc. boosted its holdings in General Dynamics by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 24,238,561 shares of the aerospace company’s stock valued at $8,265,349,000 after purchasing an additional 677,665 shares during the period. State Street Corp raised its position in shares of General Dynamics by 1.1% during the second quarter. State Street Corp now owns 11,140,437 shares of the aerospace company’s stock valued at $3,249,220,000 after buying an additional 119,664 shares during the last quarter. Ameriprise Financial Inc. grew its position in General Dynamics by 5.4% during the third quarter. Ameriprise Financial Inc. now owns 3,627,155 shares of the aerospace company’s stock worth $1,236,900,000 after buying an additional 187,435 shares in the last quarter. Northern Trust Corp increased its stake in General Dynamics by 35.0% during the third quarter. Northern Trust Corp now owns 3,332,917 shares of the aerospace company’s stock valued at $1,136,525,000 after acquiring an additional 863,392 shares during the period. Finally, Invesco Ltd. raised its holdings in General Dynamics by 0.4% in the 2nd quarter. Invesco Ltd. now owns 2,385,573 shares of the aerospace company’s stock valued at $695,776,000 after acquiring an additional 9,283 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

About General Dynamics

General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.