General Dynamics (NYSE:GD) Sets New 12-Month High – Here’s Why

General Dynamics Co. (NYSE:GD)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $314.95 and last traded at $314.95, with a volume of 75896 shares. The stock had previously closed at $309.47.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Barclays lifted their target price on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft cut their price objective on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a report on Friday, November 1st. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Sanford C. Bernstein cut their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $323.69.

General Dynamics Price Performance

The business’s 50 day simple moving average is $301.91 and its 200-day simple moving average is $295.91. The stock has a market capitalization of $85.82 billion, a price-to-earnings ratio of 23.77, a P/E/G ratio of 1.90 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last posted 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 7.90% and a return on equity of 16.59%. The firm had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter in the prior year, the business posted $3.04 earnings per share. General Dynamics’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, research analysts forecast that General Dynamics Co. will post 13.97 earnings per share for the current year.

Insider Transactions at General Dynamics

In other 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 transaction of $406,626.00. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of General Dynamics

Several institutional investors and hedge funds have recently modified their holdings of GD. International Assets Investment Management LLC lifted its position in shares of General Dynamics by 40,389.3% during the third quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock valued at $416,876,000 after purchasing an additional 1,376,065 shares in the last quarter. 1832 Asset Management L.P. grew its holdings 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 valued at $108,572,000 after acquiring an additional 357,861 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of General Dynamics by 879.9% during the first quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock valued at $96,148,000 after acquiring an additional 305,624 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in General Dynamics by 4.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after acquiring an additional 293,316 shares during the period. Finally, Hsbc Holdings PLC raised its stake in shares of General Dynamics by 24.2% during the 2nd quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock worth $391,119,000 after purchasing an additional 262,164 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

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.