Citigroup Issues Positive Forecast for General Dynamics (NYSE:GD) Stock Price

General Dynamics (NYSE:GD) had its price target boosted by Citigroup from $330.00 to $348.00 in a research note released on Monday,Benzinga reports. Citigroup currently has a buy rating on the aerospace company’s stock.

A number of other equities research analysts have also issued reports on GD. Wells Fargo & Company dropped their target price on General Dynamics from $261.00 to $236.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Cowen reissued a “buy” rating on shares of General Dynamics in a research report on Wednesday, June 25th. Susquehanna boosted their price target on General Dynamics from $300.00 to $315.00 and gave the stock a “positive” rating in a research report on Wednesday, April 2nd. Morgan Stanley lowered their price target on General Dynamics from $305.00 to $300.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Finally, UBS Group boosted their price target on General Dynamics from $268.00 to $279.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $295.53.

General Dynamics Stock Up 1.0%

Shares of General Dynamics stock opened at $305.12 on Monday. The business’s 50 day simple moving average is $282.14 and its 200 day simple moving average is $269.61. General Dynamics has a 52-week low of $239.20 and a 52-week high of $316.90. The firm has a market cap of $81.89 billion, a PE ratio of 21.16, a P/E/G ratio of 2.01 and a beta of 0.46. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.34.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.23. General Dynamics had a return on equity of 17.82% and a net margin of 8.08%. The business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.92 billion. During the same quarter last year, the firm earned $2.88 EPS. General Dynamics’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, analysts predict that General Dynamics will post 14.83 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a $1.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $6.00 annualized dividend and a yield of 1.97%. General Dynamics’s dividend payout ratio (DPR) is presently 41.61%.

Insider Transactions at General Dynamics

In related news, CEO Phebe N. Novakovic sold 7,639 shares of the business’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $280.44, for a total value of $2,142,281.16. Following the completion of the sale, the chief executive officer directly owned 769,607 shares in the company, valued at $215,828,587.08. The trade was a 0.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.50% of the stock is owned by company insiders.

Institutional Trading of General Dynamics

Several institutional investors have recently added to or reduced their stakes in GD. Retirement Guys Formula LLC bought a new stake in shares of General Dynamics during the 1st quarter valued at $1,692,000. Advisory Resource Group lifted its position in shares of General Dynamics by 7.1% during the 1st quarter. Advisory Resource Group now owns 19,200 shares of the aerospace company’s stock valued at $5,234,000 after acquiring an additional 1,276 shares during the period. Virtu Financial LLC lifted its position in shares of General Dynamics by 59.1% during the 4th quarter. Virtu Financial LLC now owns 2,929 shares of the aerospace company’s stock valued at $772,000 after acquiring an additional 1,088 shares during the period. Mission Wealth Management LP lifted its position in shares of General Dynamics by 18.9% during the 1st quarter. Mission Wealth Management LP now owns 16,144 shares of the aerospace company’s stock valued at $4,401,000 after acquiring an additional 2,568 shares during the period. Finally, Matrix Asset Advisors Inc. NY lifted its position in shares of General Dynamics by 31.6% during the 1st quarter. Matrix Asset Advisors Inc. NY now owns 33,644 shares of the aerospace company’s stock valued at $9,171,000 after acquiring an additional 8,073 shares during the period. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Company Profile

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.