Stifel Nicolaus Lowers General Dynamics (GD) Price Target to $200.00

General Dynamics (NYSE:GD) had its target price lowered by Stifel Nicolaus from $210.00 to $200.00 in a report issued on Friday, The Fly reports. The firm currently has a hold rating on the aerospace company’s stock.

A number of other analysts have also recently weighed in on the stock. Cowen reiterated a buy rating and set a $253.00 price target on shares of General Dynamics in a research note on Monday, October 15th. ValuEngine upgraded 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 restated a buy rating and set a $230.00 price objective on shares of General Dynamics in a research report on Thursday, August 16th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $231.00.

Shares of NYSE:GD opened at $167.04 on Friday. The firm has a market cap of $50.30 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 1.35 and a beta of 0.77. The company has a quick ratio of 0.87, a current ratio of 1.27 and a debt-to-equity ratio of 0.89. General Dynamics has a 1-year low of $164.76 and a 1-year high of $230.00.



General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $2.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.76 by $0.13. The firm had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $9.41 billion. General Dynamics had a net margin of 9.01% and a return on equity of 27.22%. General Dynamics’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.52 EPS. As a group, research analysts expect that General Dynamics will post 11.3 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, October 5th will be issued 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 2.23%. General Dynamics’s dividend payout ratio is presently 37.39%.

In other news, insider S. Daniel Johnson sold 77,810 shares of the 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 transaction, the insider now owns 99,333 shares in the company, valued at approximately $19,851,700.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Patrick Casey sold 22,500 shares of the 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 transaction, the insider now 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. Company insiders own 6.90% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can acquired a new stake in General Dynamics in the 2nd quarter valued at about $258,844,000. Cornerstone Wealth Management LLC grew its stake in General Dynamics by 1,393.1% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 658,951 shares of the aerospace company’s stock valued at $3,086,000 after acquiring an additional 614,817 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in General Dynamics by 29.0% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,243,297 shares of the aerospace company’s stock valued at $418,173,000 after acquiring an additional 504,326 shares during the last quarter. Levin Capital Strategies L.P. acquired a new stake in General Dynamics in the 2nd quarter valued at about $68,282,000. Finally, Chevy Chase Trust Holdings Inc. acquired a new stake in General Dynamics in the 2nd quarter valued at about $43,807,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

General Dynamics Company Profile

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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