General Dynamics (NYSE:GD) Now Covered by BTIG Research

Equities research analysts at BTIG Research began coverage on shares of General Dynamics (NYSE:GD) in a research report issued on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $345.00 price target on the aerospace company’s stock. BTIG Research’s price target indicates a potential upside of 17.95% from the company’s previous close.

Other research analysts have also issued reports about the company. Wells Fargo & Company upped their price target on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Argus upped their target price on General Dynamics from $290.00 to $310.00 and gave the company a “buy” rating in a report on Monday, April 29th. Citigroup raised their price target on shares of General Dynamics from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group upped their price objective on shares of General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, StockNews.com lowered shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 3rd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $303.24.

General Dynamics Price Performance

GD stock opened at $292.50 on Wednesday. The firm has a 50-day moving average of $294.10 and a two-hundred day moving average of $277.37. The firm has a market capitalization of $80.25 billion, a PE ratio of 23.86, a P/E/G ratio of 1.68 and a beta of 0.64. 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 has a one year low of $209.25 and a one year high of $302.75.

General Dynamics (NYSE:GD) last issued 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). General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The firm had revenue of $10.73 billion during the quarter, compared to analysts’ expectations of $10.26 billion. During the same quarter last year, the company posted $2.64 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. On average, analysts forecast that General Dynamics will post 14.55 earnings per share for the current year.

Insider Buying and Selling at General Dynamics

In related news, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $284.50, for a total value of $14,182,325.00. Following the transaction, the chief executive officer now directly owns 768,977 shares in the company, valued at approximately $218,773,956.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Phebe N. Novakovic sold 49,850 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leon Rudy F. De sold 2,570 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 5,518 shares in the company, valued at approximately $1,589,184. The disclosure for this sale can be found here. Insiders have sold a total of 118,486 shares of company stock worth $34,391,642 over the last 90 days. Insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On General Dynamics

Several large investors have recently bought and sold shares of GD. Operose Advisors LLC acquired a new stake in General Dynamics during the third quarter worth about $40,000. Tower Research Capital LLC TRC increased its position in shares of General Dynamics by 300.1% during the third quarter. Tower Research Capital LLC TRC now owns 13,207 shares of the aerospace company’s stock valued at $2,918,000 after purchasing an additional 9,906 shares during the period. Bank of Nova Scotia raised its stake in shares of General Dynamics by 12.7% in the third quarter. Bank of Nova Scotia now owns 24,522 shares of the aerospace company’s stock valued at $5,419,000 after purchasing an additional 2,755 shares in the last quarter. Ancora Advisors LLC lifted its position in General Dynamics by 17.4% in the third quarter. Ancora Advisors LLC now owns 102,315 shares of the aerospace company’s stock worth $22,609,000 after purchasing an additional 15,191 shares during the period. Finally, Gotham Asset Management LLC boosted its stake in General Dynamics by 40.4% during the third quarter. Gotham Asset Management LLC now owns 56,230 shares of the aerospace company’s stock worth $12,425,000 after buying an additional 16,194 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Company Profile

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.