Citigroup Cuts General Dynamics (GD) Price Target to $195.00

General Dynamics (NYSE:GD) had its price objective decreased by Citigroup from $210.00 to $195.00 in a research report report published on Thursday. Citigroup currently has a neutral rating on the aerospace company’s stock.

A number of other equities analysts have also recently commented on the stock. Cowen reaffirmed a buy rating and set a $253.00 price objective on shares of General Dynamics in a research report on Monday, October 15th. ValuEngine raised shares of General Dynamics from a sell rating to a hold rating in a research report on Saturday, July 28th. Bank of America set a $275.00 price objective on shares of General Dynamics and gave the stock a buy rating in a research report on Tuesday, July 31st. UBS Group started coverage on shares of General Dynamics in a research report on Wednesday, August 15th. They set a neutral rating and a $210.00 price objective for the company. Finally, Drexel Hamilton reaffirmed a buy rating and set a $230.00 price objective on shares of General Dynamics in a research report on Thursday, August 16th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $231.00.

Shares of NYSE:GD traded down $0.74 during midday trading on Thursday, hitting $169.86. The stock had a trading volume of 2,877,297 shares, compared to its average volume of 1,527,208. General Dynamics has a 12 month low of $167.27 and a 12 month high of $230.00. The company has a current ratio of 1.20, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $56.48 billion, a PE ratio of 17.07, a P/E/G ratio of 1.52 and a beta of 0.78.



General Dynamics (NYSE:GD) last released its earnings results on Wednesday, October 24th. The aerospace company reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.13. General Dynamics had a net margin of 9.16% and a return on equity of 27.06%. The business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $9.41 billion. During the same period last year, the business earned $2.52 earnings per share. The firm’s revenue was up 20.0% on a year-over-year basis. On average, equities analysts predict that General Dynamics will post 11.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, October 5th will be given a $0.93 dividend. The ex-dividend date is Thursday, October 4th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.19%. General Dynamics’s payout ratio is presently 37.39%.

In other news, insider S. Daniel Johnson sold 77,810 shares of the business’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $199.85, for a total value of $15,550,328.50. Following the completion of the sale, the insider now owns 99,333 shares of the company’s stock, valued at $19,851,700.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Patrick Casey sold 22,500 shares of the business’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $193.28, for a total transaction of $4,348,800.00. Following the completion of the sale, the insider now directly owns 118,555 shares of the company’s stock, valued at approximately $22,914,310.40. The disclosure for this sale can be found here. Insiders own 6.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. CX Institutional acquired a new position in General Dynamics in the second quarter valued at about $107,000. CSat Investment Advisory L.P. acquired a new position in General Dynamics in the second quarter valued at about $101,000. James Investment Research Inc. acquired a new position in General Dynamics in the second quarter valued at about $112,000. BerganKDV Wealth Management LLC acquired a new position in General Dynamics in the second quarter valued at about $114,000. Finally, Fort L.P. acquired a new position in General Dynamics in the second quarter valued at about $117,000. 85.47% of the stock is owned by institutional investors.

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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Analyst Recommendations for General Dynamics (NYSE:GD)

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