General Dynamics (NYSE:GD) Price Target Raised to $315.00

General Dynamics (NYSE:GD) had its target price boosted by Susquehanna from $300.00 to $315.00 in a research note published on Wednesday,Benzinga reports. Susquehanna currently has a positive rating on the aerospace company’s stock.

Several other equities analysts have also commented on GD. Barclays dropped their target price on General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company increased their price objective on shares of General Dynamics from $244.00 to $261.00 and gave the stock an “equal weight” rating in a report on Friday, March 7th. JPMorgan Chase & Co. lowered their target price on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Citigroup cut their price target on shares of General Dynamics from $360.00 to $335.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, Robert W. Baird reissued a “neutral” rating and set a $283.00 price objective (down from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $298.59.

General Dynamics Price Performance

NYSE:GD opened at $276.14 on Wednesday. General Dynamics has a 12-month low of $239.87 and a 12-month high of $316.90. The firm has a market cap of $74.65 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. The company’s 50-day moving average is $259.05 and its two-hundred day moving average is $276.19. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. Research analysts expect that General Dynamics will post 14.83 EPS for the current year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from General Dynamics’s previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a yield of 2.17%. General Dynamics’s dividend payout ratio is currently 43.99%.

General Dynamics announced that its board has initiated a share buyback plan on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at General Dynamics

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the transaction, the senior vice president now owns 45,192 shares in the company, valued at $12,297,195.12. The trade was a 37.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the sale, the director now directly owns 11,175 shares of the company’s stock, valued at $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is owned by insiders.

Hedge Funds Weigh In On General Dynamics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Purus Wealth Management LLC lifted its holdings in General Dynamics by 1.5% in the fourth quarter. Purus Wealth Management LLC now owns 2,660 shares of the aerospace company’s stock valued at $701,000 after buying an additional 39 shares during the period. Armstrong Advisory Group Inc. lifted its stake in shares of General Dynamics by 4.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 1,051 shares of the aerospace company’s stock valued at $277,000 after purchasing an additional 40 shares during the period. Austin Wealth Management LLC boosted its position in shares of General Dynamics by 5.4% in the 4th quarter. Austin Wealth Management LLC now owns 826 shares of the aerospace company’s stock worth $220,000 after purchasing an additional 42 shares during the last quarter. SRS Capital Advisors Inc. grew its stake in shares of General Dynamics by 35.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 163 shares of the aerospace company’s stock worth $43,000 after purchasing an additional 43 shares during the period. Finally, Stokes Family Office LLC increased its holdings in General Dynamics by 0.4% in the fourth quarter. Stokes Family Office LLC now owns 10,279 shares of the aerospace company’s stock valued at $2,708,000 after purchasing an additional 43 shares during the last quarter. 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.