General Dynamics (NYSE:GD) Given New $325.00 Price Target at Royal Bank of Canada

General Dynamics (NYSE:GDFree Report) had its target price upped by Royal Bank of Canada from $300.00 to $325.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have an outperform rating on the aerospace company’s stock.

A number of other research firms have also recently issued reports on GD. StockNews.com cut General Dynamics from a strong-buy rating to a buy rating in a report on Saturday, February 3rd. Alembic Global Advisors downgraded General Dynamics from an overweight rating to a neutral rating and set a $296.00 price objective for the company. in a report on Monday, January 29th. UBS Group boosted their target price on General Dynamics from $286.00 to $296.00 and gave the company a neutral rating in a research note on Monday, January 29th. Finally, Citigroup raised their price target on shares of General Dynamics from $283.00 to $300.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $273.62.

Check Out Our Latest Research Report on GD

General Dynamics Trading Down 0.3 %

NYSE GD opened at $290.54 on Tuesday. General Dynamics has a one year low of $202.35 and a one year high of $292.50. 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 firm has a market cap of $79.72 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.79 and a beta of 0.68. The stock’s 50-day moving average is $272.42 and its 200-day moving average is $253.39.

General Dynamics (NYSE:GDGet Free Report) last announced its earnings results on Wednesday, January 24th. The aerospace company reported $3.64 EPS for the quarter, missing the consensus estimate of $3.68 by ($0.04). The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.39 billion. General Dynamics had a return on equity of 16.61% and a net margin of 7.84%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $3.58 earnings per share. Sell-side analysts anticipate that General Dynamics will post 14.59 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be given a dividend of $1.42 per share. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s dividend payout ratio is 43.93%.

Insider Activity

In related news, CEO Phebe N. Novakovic sold 32,355 shares of General Dynamics stock in a transaction dated 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 transaction, the chief executive officer now owns 773,977 shares in the company, valued at $204,569,860.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Mark C. Roualet sold 73,330 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $264.75, for a total value of $19,414,117.50. Following the transaction, the executive vice president now directly owns 149,205 shares of the company’s stock, valued at $39,502,023.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Phebe N. Novakovic sold 32,355 shares of General Dynamics stock in a transaction dated 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 sale, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at approximately $204,569,860.87. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

Hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in General Dynamics during the 4th quarter worth approximately $728,284,000. Wellington Management Group LLP lifted its holdings in shares of General Dynamics by 12.0% during the third quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock worth $3,615,185,000 after buying an additional 1,755,276 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of General Dynamics by 484.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,749,729 shares of the aerospace company’s stock valued at $399,306,000 after acquiring an additional 1,450,213 shares during the period. Moneta Group Investment Advisors LLC grew its stake in shares of General Dynamics by 91,832.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,386,337 shares of the aerospace company’s stock valued at $343,964,000 after acquiring an additional 1,384,829 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in General Dynamics by 10,763.2% during the fourth quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock worth $239,829,000 after acquiring an additional 915,091 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

About General Dynamics

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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.

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Analyst Recommendations for General Dynamics (NYSE:GD)

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