General Dynamics (NYSE:GD) Price Target Lowered to $320.00 at Royal Bank of Canada

General Dynamics (NYSE:GD) had its target price cut by Royal Bank of Canada from $325.00 to $320.00 in a research note released on Thursday morning, Benzinga reports. They currently have an outperform rating on the aerospace company’s stock.

Other analysts also recently issued reports about the company. Barclays increased their target price on General Dynamics from $285.00 to $310.00 and gave the company an overweight rating in a research note on Monday, April 15th. StockNews.com lowered General Dynamics from a strong-buy rating to a buy rating in a research report on Saturday, February 3rd. The Goldman Sachs Group raised their price target on shares of General Dynamics from $253.00 to $284.00 and gave the company a neutral rating in a report on Tuesday, April 16th. Alembic Global Advisors cut shares of 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. Finally, Citigroup raised their target price on shares of General Dynamics from $283.00 to $300.00 and gave the stock a buy rating in a report on Thursday, January 25th. Four 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 company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $293.43.

General Dynamics Price Performance

Shares of NYSE:GD opened at $284.41 on Thursday. The company has a market capitalization of $78.03 billion, a PE ratio of 23.20, a PEG ratio of 1.81 and a beta of 0.68. The business has a fifty day moving average price of $280.86 and a 200-day moving average price of $262.05. General Dynamics has a 1-year low of $202.35 and a 1-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.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.89 by ($0.01). General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The firm had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. During the same period last year, the firm posted $2.64 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts expect that General Dynamics will post 14.57 EPS for the current fiscal year.

General Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be paid a $1.42 dividend. The ex-dividend date is Thursday, April 11th. This represents a $5.68 annualized dividend and a dividend yield of 2.00%. This is an increase from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Institutional Investors Weigh In On General Dynamics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of General Dynamics in the fourth quarter worth $728,284,000. Wellington Management Group LLP increased its stake in General Dynamics by 12.0% in the 3rd 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. International Assets Investment Management LLC raised its holdings 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 valued at $239,829,000 after acquiring an additional 915,091 shares during the period. Verity & Verity LLC purchased a new position in shares of General Dynamics in the first quarter valued at about $179,000. Finally, 1832 Asset Management L.P. grew its position in shares of General Dynamics by 3,645.4% during the fourth quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock worth $145,048,000 after purchasing an additional 543,672 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

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.