General Dynamics (NYSE:GD) Price Target Raised to $320.00 at Citigroup

General Dynamics (NYSE:GD) had its target price upped by Citigroup from $300.00 to $320.00 in a report issued on Thursday, Benzinga reports. Citigroup currently has a buy rating on the aerospace company’s stock.

GD has been the topic of several other research reports. StockNews.com cut shares of General Dynamics from a strong-buy rating to a buy rating in a research note on Saturday, February 3rd. Alembic Global Advisors cut shares of General Dynamics from an overweight rating to a neutral rating and set a $296.00 price target on the stock. in a research report on Monday, January 29th. Royal Bank of Canada lowered their price target on shares of General Dynamics from $325.00 to $320.00 and set an outperform rating on the stock in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of General Dynamics from $280.00 to $298.00 and gave the company an overweight rating in a research report on Thursday. Finally, The Goldman Sachs Group boosted their price target on shares of General Dynamics from $253.00 to $284.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, General Dynamics has an average rating of Moderate Buy and a consensus target price of $293.43.

General Dynamics Trading Down 0.2 %

Shares of GD opened at $284.41 on Thursday. General Dynamics has a 52-week low of $202.35 and a 52-week high of $296.50. The company has a quick ratio of 0.92, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average is $280.86 and its two-hundred day moving average is $262.05. The stock has a market cap of $78.03 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 1.81 and a beta of 0.68.

General Dynamics (NYSE:GD) last announced 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 business had revenue of $10.73 billion for the quarter, compared to analyst estimates of $10.26 billion. During the same period last year, the firm earned $2.64 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Research analysts forecast that General Dynamics will post 14.57 earnings per share for the current fiscal year.

General Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 12th will be paid a dividend of $1.42 per share. The ex-dividend date of this dividend is Thursday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 dividend on an annualized basis and a yield of 2.00%. General Dynamics’s dividend payout ratio is 46.33%.

Institutional Trading of General Dynamics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Weatherly Asset Management L. P. increased its stake in General Dynamics by 3.3% during the first quarter. Weatherly Asset Management L. P. now owns 29,729 shares of the aerospace company’s stock worth $8,398,000 after purchasing an additional 963 shares during the period. Conning Inc. increased its stake in General Dynamics by 4.3% during the first quarter. Conning Inc. now owns 129,702 shares of the aerospace company’s stock worth $36,564,000 after purchasing an additional 5,387 shares during the period. Trueblood Wealth Management LLC increased its stake in General Dynamics by 4.3% during the first quarter. Trueblood Wealth Management LLC now owns 2,168 shares of the aerospace company’s stock worth $612,000 after purchasing an additional 89 shares during the period. UMB Bank n.a. increased its stake in General Dynamics by 1,408.8% during the first quarter. UMB Bank n.a. now owns 36,363 shares of the aerospace company’s stock worth $10,272,000 after purchasing an additional 33,953 shares during the period. Finally, Narwhal Capital Management increased its stake in General Dynamics by 26.1% during the first quarter. Narwhal Capital Management now owns 32,593 shares of the aerospace company’s stock worth $9,207,000 after purchasing an additional 6,739 shares during the period. 86.14% of the stock is currently 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.