Analysts Set General Dynamics Co. (NYSE:GD) PT at $202.50

General Dynamics Co. (NYSE:GD) has received an average rating of “Buy” from the thirteen ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $209.67.

A number of brokerages recently issued reports on GD. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $208.00 target price for the company in a research report on Thursday, August 5th. Wells Fargo & Company upped their target price on General Dynamics from $216.00 to $220.00 and gave the company an “overweight” rating in a research report on Friday, July 30th. Credit Suisse Group upped their target price on General Dynamics from $182.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, July 29th. Finally, Cowen reissued a “buy” rating on shares of General Dynamics in a research report on Monday, August 9th.

Several hedge funds have recently modified their holdings of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of General Dynamics by 1.5% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,458 shares of the aerospace company’s stock worth $651,000 after buying an additional 50 shares in the last quarter. Assetmark Inc. raised its stake in shares of General Dynamics by 3.5% during the 2nd quarter. Assetmark Inc. now owns 1,475 shares of the aerospace company’s stock worth $278,000 after buying an additional 50 shares in the last quarter. Greenleaf Trust raised its stake in shares of General Dynamics by 1.8% during the 2nd quarter. Greenleaf Trust now owns 2,913 shares of the aerospace company’s stock worth $548,000 after buying an additional 51 shares in the last quarter. Loudon Investment Management LLC raised its stake in shares of General Dynamics by 1.4% during the 2nd quarter. Loudon Investment Management LLC now owns 3,963 shares of the aerospace company’s stock worth $746,000 after buying an additional 53 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in shares of General Dynamics by 3.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,395 shares of the aerospace company’s stock worth $262,000 after buying an additional 53 shares in the last quarter. 85.22% of the stock is owned by institutional investors and hedge funds.

Shares of GD stock traded down $1.69 during trading hours on Monday, hitting $193.43. The company had a trading volume of 938,152 shares, compared to its average volume of 1,126,378. The company’s fifty day moving average is $196.74 and its 200 day moving average is $189.65. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.44 and a quick ratio of 1.05. General Dynamics has a fifty-two week low of $129.17 and a fifty-two week high of $206.46. The stock has a market capitalization of $54.07 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 2.04 and a beta of 1.14.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 28th. The aerospace company reported $2.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.52 by $0.09. The company had revenue of $9.22 billion for the quarter, compared to analyst estimates of $9.23 billion. General Dynamics had a net margin of 8.52% and a return on equity of 21.50%. Equities analysts forecast that General Dynamics will post 11.49 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 12th. Stockholders of record on Friday, October 8th will be paid a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Thursday, October 7th. General Dynamics’s dividend payout ratio (DPR) is 43.27%.

General Dynamics declared that its Board of Directors has initiated a share repurchase program on Wednesday, June 2nd that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

About General Dynamics

General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, and Marine Systems.

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Analyst Recommendations for General Dynamics (NYSE:GD)

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