General Dynamics (NYSE:GD) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

General Dynamics (NYSE:GD) had its price objective raised by investment analysts at Royal Bank Of Canada from $360.00 to $400.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “sector perform” rating on the aerospace company’s stock. Royal Bank Of Canada‘s price objective would indicate a potential upside of 7.78% from the company’s current price.

Other research analysts also recently issued research reports about the company. Sanford C. Bernstein reduced their price objective on General Dynamics from $407.00 to $365.00 and set a “market perform” rating for the company in a research note on Wednesday, October 14th. Robert W. Baird set a $430.00 price target on General Dynamics in a research report on Thursday, July 30th. Morgan Stanley upped their price target on shares of General Dynamics from $435.00 to $465.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. TD Cowen dropped their price objective on shares of General Dynamics from $420.00 to $380.00 and set a “buy” rating for the company in a report on Friday, October 9th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $384.00 price objective on shares of General Dynamics in a research note on Thursday, July 30th. Eleven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $405.50.

General Dynamics Trading Down 0.4%

NYSE GD traded down $1.45 during mid-day trading on Monday, reaching $371.14. 265,825 shares of the stock were exchanged, compared to its average volume of 1,291,154. The stock has a market cap of $100.41 billion, a P/E ratio of 21.89, a P/E/G ratio of 2.18 and a beta of 0.30. General Dynamics has a one year low of $306.77 and a one year high of $400.00. The stock has a 50 day simple moving average of $351.44 and a 200-day simple moving average of $355.06. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 0.94.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Friday, October 30th. The aerospace company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.12 by $0.37. General Dynamics had a return on equity of 17.60% and a net margin of 8.24%. The firm had revenue of $14.57 billion during the quarter, compared to analysts’ expectations of $13.72 billion. During the same quarter last year, the firm posted $3.88 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, analysts anticipate that General Dynamics will post 16.99 EPS for the current year.

Insider Transactions at General Dynamics

In other General Dynamics news, Director Robert K. Steel sold 7,440 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $346.05, for a total value of $2,574,612.00. Following the completion of the sale, the director directly owned 3,096 shares in the company, valued at $1,071,370.80. This trade represents a 70.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GD. Whipplewood Advisors LLC grew its position in General Dynamics by 1,725.0% during the 1st quarter. Whipplewood Advisors LLC now owns 73 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 69 shares during the last quarter. Wellington Altus USA Inc. increased its stake in General Dynamics by 77.8% during the 2nd quarter. Wellington Altus USA Inc. now owns 80 shares of the aerospace company’s stock valued at $27,000 after purchasing an additional 35 shares in the last quarter. Downshift Financial LLC raised its holdings in General Dynamics by 134.3% in the third quarter. Downshift Financial LLC now owns 82 shares of the aerospace company’s stock worth $27,000 after buying an additional 47 shares during the last quarter. Morton Brown Family Wealth LLC raised its holdings in General Dynamics by 182.8% in the third quarter. Morton Brown Family Wealth LLC now owns 82 shares of the aerospace company’s stock worth $27,000 after buying an additional 53 shares during the last quarter. Finally, Paladin Partners LLC bought a new position in shares of General Dynamics in the second quarter worth approximately $30,000. 86.14% of the stock is currently owned by institutional investors.

About General Dynamics

General Dynamics Corporation (NYSE: GD) is a global aerospace and defense company that develops, manufactures and supports products and services for government and commercial customers. Its operations serve the U.S. government, allied nations and other customers worldwide, with a significant focus on national security, military modernization and mission support.

The company operates through four primary business areas. Aerospace provides Gulfstream business jets and related aircraft services through Gulfstream Aerospace, as well as aircraft management, charter, maintenance and completions services through Jet Aviation.