Citigroup Boosts General Dynamics (NYSE:GD) Price Target to $320.00

General Dynamics (NYSE:GD) had its price target lifted by Citigroup from $300.00 to $320.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a buy rating on the aerospace company’s stock.

Several other brokerages have also issued reports on GD. JPMorgan Chase & Co. increased their price target on General Dynamics from $280.00 to $298.00 and gave the stock an overweight rating in a report on Thursday. Barclays increased their price target on General Dynamics from $285.00 to $310.00 and gave the stock an overweight rating in a report on Monday, April 15th. Alembic Global Advisors lowered General Dynamics from an overweight rating to a neutral rating and set a $296.00 price target on the stock. in a report on Monday, January 29th. Susquehanna increased their price target on General Dynamics from $301.00 to $333.00 and gave the stock a positive rating in a report on Friday, April 12th. Finally, Wells Fargo & Company increased their price target on General Dynamics from $291.00 to $322.00 and gave the stock an overweight rating in a report on Thursday, April 4th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $293.43.

General Dynamics Stock Down 0.2 %

Shares of General Dynamics stock opened at $284.41 on Thursday. General Dynamics has a one year low of $202.35 and a one year high of $296.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.92. The stock’s 50-day moving average is $280.86 and its 200 day moving average is $261.88. The firm has a market cap of $78.03 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 1.81 and a beta of 0.68.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The business had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same quarter in the previous year, the company earned $2.64 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts anticipate that General Dynamics will post 14.57 EPS for the current year.

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be given 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 an increase from General Dynamics’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s dividend payout ratio (DPR) is presently 46.33%.

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 32,355 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at $204,569,860.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.52% of the stock is currently owned by company insiders.

Institutional Trading of General Dynamics

Institutional investors and hedge funds have recently modified their holdings of the business. MeadowBrook Investment Advisors LLC purchased a new stake in shares of General Dynamics during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. bought a new position in General Dynamics during the fourth quarter valued at $25,000. Redmont Wealth Advisors LLC bought a new position in General Dynamics during the first quarter valued at $25,000. Briaud Financial Planning Inc bought a new position in General Dynamics during the third quarter valued at $27,000. Finally, Impact Partnership Wealth LLC grew its holdings in General Dynamics by 411.5% during the third quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 107 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Company Profile

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.