Royal Bank of Canada Increases General Dynamics (NYSE:GD) Price Target to $330.00

General Dynamics (NYSE:GD) had its price target lifted by Royal Bank of Canada from $320.00 to $330.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an outperform rating on the aerospace company’s stock.

Several other brokerages have also commented on GD. Barclays upped their target price on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Susquehanna upped their price target on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft dropped their price target on General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. BTIG Research began coverage on General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price target on the stock. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research note on Tuesday, July 2nd. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $323.88.

General Dynamics Stock Up 0.4 %

Shares of General Dynamics stock opened at $302.52 on Thursday. General Dynamics has a one year low of $236.58 and a one year high of $313.11. 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 stock’s 50-day moving average is $300.40 and its 200 day moving average is $294.74. The firm has a market cap of $83.13 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.72 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter in the previous year, the company earned $3.04 EPS. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. Equities research analysts anticipate that General Dynamics will post 14.27 EPS for the current year.

General Dynamics Dividend Announcement

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

Insider Activity at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this link. 1.52% of the stock is currently owned by company insiders.

Institutional Trading of General Dynamics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Financial Advocates Investment Management bought a new position in General Dynamics during the third quarter valued at $215,000. 1620 Investment Advisors Inc. boosted its holdings in shares of General Dynamics by 79.3% in the third quarter. 1620 Investment Advisors Inc. now owns 2,238 shares of the aerospace company’s stock worth $676,000 after acquiring an additional 990 shares during the period. SteelPeak Wealth LLC bought a new position in shares of General Dynamics in the third quarter worth $337,000. First Trust Direct Indexing L.P. boosted its holdings in shares of General Dynamics by 7.2% in the third quarter. First Trust Direct Indexing L.P. now owns 8,646 shares of the aerospace company’s stock worth $2,613,000 after acquiring an additional 581 shares during the period. Finally, Golden State Equity Partners boosted its holdings in shares of General Dynamics by 31.8% in the third quarter. Golden State Equity Partners now owns 5,618 shares of the aerospace company’s stock worth $1,698,000 after acquiring an additional 1,356 shares during the period. 86.14% of the stock is owned by hedge funds and other 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.