General Dynamics Co. (NYSE:GD) Receives $304.53 Consensus PT from Brokerages

General Dynamics Co. (NYSE:GD) has earned an average recommendation of “Hold” from the twenty-one ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $304.88.

A number of analysts have recently weighed in on the stock. Royal Bank of Canada downgraded shares of General Dynamics from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $330.00 to $290.00 in a research report on Thursday, December 19th. Baird R W cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Sanford C. Bernstein lowered their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Citigroup upped their price target on General Dynamics from $354.00 to $360.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th.

General Dynamics Trading Down 0.9 %

NYSE GD opened at $266.22 on Monday. The stock’s 50 day moving average is $269.27 and its 200 day moving average is $287.70. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $73.20 billion, a PE ratio of 20.28, a P/E/G ratio of 1.43 and a beta of 0.61. General Dynamics has a twelve month low of $257.26 and a twelve month high of $316.90.

General Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a dividend of $1.42 per share. The ex-dividend date is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a yield of 2.13%. General Dynamics’s dividend payout ratio (DPR) is 43.26%.

General Dynamics announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 4th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the sale, the vice president now directly owns 20,296 shares in the company, valued at $5,701,349.36. The trade was a 21.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On General Dynamics

A number of institutional investors and hedge funds have recently made changes to their positions in GD. AE Wealth Management LLC raised its stake in shares of General Dynamics by 1.8% in the second quarter. AE Wealth Management LLC now owns 5,225 shares of the aerospace company’s stock worth $1,516,000 after buying an additional 94 shares during the period. Summit Trail Advisors LLC raised its stake in General Dynamics by 10.7% during the 2nd quarter. Summit Trail Advisors LLC now owns 1,293 shares of the aerospace company’s stock worth $375,000 after acquiring an additional 125 shares during the period. Kowal Investment Group LLC lifted its holdings in General Dynamics by 12.0% during the second quarter. Kowal Investment Group LLC now owns 3,049 shares of the aerospace company’s stock valued at $885,000 after purchasing an additional 327 shares in the last quarter. Frank Rimerman Advisors LLC boosted its position in shares of General Dynamics by 3,139.0% in the second quarter. Frank Rimerman Advisors LLC now owns 1,911 shares of the aerospace company’s stock worth $554,000 after purchasing an additional 1,852 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in shares of General Dynamics by 2,189.3% in the second quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock worth $108,572,000 after purchasing an additional 357,861 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

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.