General Dynamics Co. (NYSE:GD) Receives $298.59 Average PT from Brokerages

General Dynamics Co. (NYSE:GD) has received a consensus recommendation of “Hold” from the twenty-one ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $296.82.

Several research firms have weighed in on GD. Citigroup lowered their price objective on shares of General Dynamics from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday. UBS Group lowered their target price on General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Baird R W cut General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. BTIG Research cut General Dynamics from a “buy” rating to a “neutral” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company lowered their price target on shares of General Dynamics from $261.00 to $236.00 and set an “equal weight” rating for the company in a research report on Tuesday.

Insider Buying and Selling at General Dynamics

In related news, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the sale, the senior vice president now owns 45,192 shares of the company’s stock, valued at approximately $12,297,195.12. The trade was a 37.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the transaction, the director now owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Institutional Trading of General Dynamics

Hedge funds have recently made changes to their positions in the business. Purus Wealth Management LLC grew its holdings in General Dynamics by 1.5% during the fourth quarter. Purus Wealth Management LLC now owns 2,660 shares of the aerospace company’s stock worth $701,000 after buying an additional 39 shares in the last quarter. Armstrong Advisory Group Inc. boosted its holdings in General Dynamics by 4.0% during the 4th quarter. Armstrong Advisory Group Inc. now owns 1,051 shares of the aerospace company’s stock worth $277,000 after acquiring an additional 40 shares during the last quarter. Thrive Wealth Management LLC grew its stake in shares of General Dynamics by 2.1% in the 1st quarter. Thrive Wealth Management LLC now owns 2,002 shares of the aerospace company’s stock worth $546,000 after acquiring an additional 41 shares in the last quarter. Austin Wealth Management LLC raised its holdings in shares of General Dynamics by 5.4% in the fourth quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company’s stock valued at $220,000 after purchasing an additional 42 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its position in shares of General Dynamics by 35.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 163 shares of the aerospace company’s stock valued at $43,000 after purchasing an additional 43 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Price Performance

NYSE:GD opened at $276.66 on Friday. The firm has a market cap of $74.25 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 1.69 and a beta of 0.43. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. General Dynamics has a 12 month low of $239.20 and a 12 month high of $316.90. The company’s 50-day moving average price is $259.48 and its two-hundred day moving average price is $273.77.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. On average, equities analysts anticipate that General Dynamics will post 14.83 EPS for the current fiscal year.

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 11th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.17%. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, April 11th. General Dynamics’s payout ratio is 43.99%.

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.