General Dynamics (NYSE:GD) PT Raised to $302.00 at Sanford C. Bernstein

General Dynamics (NYSE:GD) had its price objective boosted by equities researchers at Sanford C. Bernstein from $290.00 to $302.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the aerospace company’s stock. Sanford C. Bernstein’s price objective would suggest a potential upside of 1.79% from the company’s current price.

A number of other brokerages have also issued reports on GD. StockNews.com lowered shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. raised their target price on shares of General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. The Goldman Sachs Group raised their target price on shares of General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Citigroup raised their target price on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Alembic Global Advisors lowered shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price target on the stock. in a report on Monday, January 29th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $300.63.

General Dynamics Price Performance

Shares of GD stock traded down $1.31 during trading hours on Thursday, hitting $296.70. The company’s stock had a trading volume of 191,528 shares, compared to its average volume of 1,077,661. The business has a fifty day moving average of $288.18 and a 200-day moving average of $268.64. The stock has a market cap of $81.40 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 1.69 and a beta of 0.67. General Dynamics has a twelve month low of $202.35 and a twelve month high of $301.48. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 24th. The aerospace company reported $2.88 EPS for the quarter, missing the consensus estimate of $2.89 by ($0.01). The business had revenue of $10.73 billion during the quarter, compared to analyst estimates of $10.26 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.64 earnings per share. As a group, equities research analysts anticipate that General Dynamics will post 14.55 EPS for the current year.

Insider Activity at General Dynamics

In other General Dynamics news, Director Leon Rudy F. De sold 2,570 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $288.00, for a total value of $740,160.00. Following the completion of the transaction, the director now owns 5,518 shares in the company, valued at approximately $1,589,184. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other General Dynamics news, Director Leon Rudy F. De sold 2,570 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $288.00, for a total value of $740,160.00. Following the completion of the transaction, the director now owns 5,518 shares in the company, valued at approximately $1,589,184. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the transaction, the chief executive officer now owns 768,977 shares of the company’s stock, valued at approximately $218,773,956.50. The disclosure for this sale can be found here. Insiders sold a total of 118,486 shares of company stock valued at $34,391,642 in the last quarter. Insiders own 1.52% of the company’s stock.

Institutional Trading of General Dynamics

A number of institutional investors have recently made changes to their positions in GD. MeadowBrook Investment Advisors LLC acquired a new stake in General Dynamics during the fourth quarter valued at approximately $25,000. Richardson Financial Services Inc. purchased a new stake in shares of General Dynamics in the 4th quarter valued at approximately $25,000. Redmont Wealth Advisors LLC purchased a new stake in shares of General Dynamics in the 1st quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in General Dynamics in the 1st quarter valued at approximately $29,000. Finally, New Covenant Trust Company N.A. acquired a new position in General Dynamics in the 1st quarter valued at approximately $29,000. 86.14% of the stock is owned by institutional investors and hedge funds.

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.