Sanford C. Bernstein Trims General Dynamics (NYSE:GD) Target Price to $331.00

General Dynamics (NYSE:GD) had its target price reduced by Sanford C. Bernstein from $343.00 to $331.00 in a report published on Thursday morning, Benzinga reports. They currently have a market perform rating on the aerospace company’s stock.

A number of other brokerages also recently commented on GD. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Barclays lifted their price objective on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. BTIG Research assumed coverage on General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.88.

General Dynamics Stock Performance

Shares of NYSE:GD opened at $302.52 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. The business’s 50 day moving average price is $300.40 and its 200-day moving average price is $294.71. The firm has a market capitalization of $83.13 billion, a PE ratio of 23.60, a P/E/G ratio of 1.72 and a beta of 0.61. General Dynamics has a 1 year low of $236.58 and a 1 year high of $313.11.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same period in the prior year, the firm earned $3.04 earnings per share. The business’s revenue was up 10.4% on a year-over-year basis. As a group, equities research analysts expect that General Dynamics will post 14.27 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 annualized dividend and a dividend yield of 1.88%. General Dynamics’s dividend payout ratio is presently 44.31%.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.52% of the company’s stock.

Institutional Trading of General Dynamics

Several hedge funds have recently added to or reduced their stakes in GD. Redmont Wealth Advisors LLC acquired a new stake in General Dynamics in the first quarter valued at approximately $25,000. MFA Wealth Advisors LLC raised its holdings in General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 58 shares in the last quarter. New Covenant Trust Company N.A. acquired a new stake in General Dynamics in the first quarter valued at approximately $29,000. American Capital Advisory LLC purchased a new position in General Dynamics in the second quarter valued at approximately $29,000. Finally, Lowe Wealth Advisors LLC purchased a new position in General Dynamics in the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

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.