General Dynamics (NYSE:GD) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of General Dynamics (NYSE:GD) from a buy rating to a strong-buy rating in a report published on Thursday.

A number of other equities analysts have also commented on the stock. The Goldman Sachs Group lifted their price target on shares of General Dynamics from $253.00 to $284.00 and gave the stock a neutral rating in a report on Tuesday, April 16th. Barclays boosted their target price on shares of General Dynamics from $285.00 to $310.00 and gave the company an overweight rating in a report on Monday, April 15th. Citigroup boosted their target price on shares of General Dynamics from $300.00 to $320.00 and gave the company a buy rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of General Dynamics from $280.00 to $298.00 and gave the company an overweight rating in a report on Thursday. Finally, Wells Fargo & Company boosted their target price on shares of General Dynamics from $291.00 to $322.00 and gave the company an overweight rating in a report on Thursday, April 4th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently 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 firm 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. The firm’s fifty day moving average is $280.86 and its 200-day moving average is $262.05. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.44. General Dynamics has a 52 week low of $202.35 and a 52 week high of $296.50.

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

General Dynamics Increases Dividend

The business 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 $1.42 dividend. This is an increase from General Dynamics’s previous quarterly dividend of $1.32. This represents a $5.68 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, April 11th. General Dynamics’s payout ratio is 46.33%.

Institutional Investors Weigh In On General Dynamics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Impact Partnership Wealth LLC increased its position in shares of General Dynamics by 411.5% during the third quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 107 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of General Dynamics by 1,406.1% during the third quarter. Exchange Traded Concepts LLC now owns 2,696 shares of the aerospace company’s stock worth $596,000 after acquiring an additional 2,517 shares in the last quarter. Private Trust Co. NA increased its position in shares of General Dynamics by 1.1% during the third quarter. Private Trust Co. NA now owns 4,210 shares of the aerospace company’s stock worth $930,000 after acquiring an additional 47 shares in the last quarter. CX Institutional grew its position in General Dynamics by 123.9% in the 3rd quarter. CX Institutional now owns 23,531 shares of the aerospace company’s stock worth $5,200,000 after purchasing an additional 13,022 shares in the last quarter. Finally, WASHINGTON TRUST Co grew its position in General Dynamics by 3.9% in the 3rd quarter. WASHINGTON TRUST Co now owns 2,659 shares of the aerospace company’s stock worth $588,000 after purchasing an additional 100 shares in the last quarter. 86.14% of the stock is owned by 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.