General Dynamics (NYSE:GD) had its price objective cut by Morgan Stanley from $225.00 to $217.00 in a report released on Thursday, April 12th. They currently have an underweight rating on the aerospace company’s stock.
Several other research analysts have also recently issued reports on GD. Zacks Investment Research cut General Dynamics from a hold rating to a sell rating in a report on Tuesday, December 26th. Jefferies Group reaffirmed a buy rating and issued a $237.00 price target on shares of General Dynamics in a report on Monday, January 8th. Stifel Nicolaus reaffirmed a hold rating and issued a $220.00 price target on shares of General Dynamics in a report on Tuesday, January 9th. Royal Bank of Canada set a $246.00 target price on shares of General Dynamics and gave the company a buy rating in a research note on Tuesday, January 23rd. Finally, Credit Suisse Group boosted their target price on shares of General Dynamics from $238.00 to $259.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $239.04.
GD opened at $223.11 on Thursday. The company has a market capitalization of $66,248.95, a price-to-earnings ratio of 22.42, a PEG ratio of 2.38 and a beta of 0.83. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.40 and a quick ratio of 0.99. General Dynamics has a 1-year low of $188.20 and a 1-year high of $230.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Friday, April 13th will be issued a $0.93 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This is a boost from General Dynamics’s previous quarterly dividend of $0.84. This represents a $3.72 dividend on an annualized basis and a yield of 1.67%. General Dynamics’s dividend payout ratio is currently 37.39%.
In other General Dynamics news, insider S. Daniel Johnson sold 3,933 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $228.79, for a total transaction of $899,831.07. Following the completion of the sale, the insider now directly owns 66,363 shares in the company, valued at $15,183,190.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John M. Keane sold 1,800 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $216.43, for a total transaction of $389,574.00. The disclosure for this sale can be found here. Insiders sold 30,357 shares of company stock valued at $6,715,463 over the last quarter. 6.70% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chemical Bank lifted its stake in shares of General Dynamics by 5.7% in the fourth quarter. Chemical Bank now owns 9,912 shares of the aerospace company’s stock valued at $2,017,000 after buying an additional 535 shares during the period. Ackerman Capital Advisors LLC acquired a new position in General Dynamics in the fourth quarter worth about $329,000. Wagner Wealth Management LLC acquired a new position in General Dynamics in the fourth quarter worth about $164,000. D.B. Root & Company LLC acquired a new position in General Dynamics in the fourth quarter worth about $254,000. Finally, Envestnet Asset Management Inc. raised its position in General Dynamics by 10.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 66,368 shares of the aerospace company’s stock worth $13,503,000 after purchasing an additional 6,550 shares in the last quarter. Institutional investors and hedge funds own 86.08% of the company’s stock.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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