Morgan Stanley Boosts General Dynamics (NYSE:GD) Price Target to $173.00

General Dynamics (NYSE:GD) had its price target raised by Morgan Stanley from $171.00 to $173.00 in a research note released on Wednesday morning, BenzingaRatingsTable reports. The firm currently has an underweight rating on the aerospace company’s stock.

Several other brokerages also recently issued reports on GD. JPMorgan Chase & Co. upgraded shares of General Dynamics from an underweight rating to a neutral rating and upped their price target for the stock from $188.00 to $200.00 in a report on Thursday, April 25th. They noted that the move was a valuation call. UBS Group boosted their price objective on shares of General Dynamics from $175.00 to $190.00 and gave the stock a neutral rating in a research note on Thursday, April 25th. Zacks Investment Research raised shares of General Dynamics from a hold rating to a buy rating and set a $171.00 price objective on the stock in a research note on Monday, June 3rd. Robert W. Baird boosted their price objective on shares of General Dynamics from $188.00 to $218.00 and gave the stock an outperform rating in a research note on Wednesday, July 10th. Finally, Cowen reissued a buy rating and issued a $202.00 price objective on shares of General Dynamics in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company’s stock. General Dynamics presently has a consensus rating of Hold and a consensus target price of $191.47.

Shares of NYSE:GD opened at $184.35 on Wednesday. The company has a fifty day moving average of $183.82 and a 200-day moving average of $174.41. The company has a market capitalization of $52.63 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.76 and a beta of 1.21. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.73 and a current ratio of 1.09. General Dynamics has a 52-week low of $143.87 and a 52-week high of $207.72.



General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.09. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.36 billion. General Dynamics had a net margin of 8.65% and a return on equity of 26.81%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.82 earnings per share. On average, equities analysts forecast that General Dynamics will post 11.86 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be given a dividend of $1.02 per share. The ex-dividend date is Thursday, October 10th. This represents a $4.08 dividend on an annualized basis and a yield of 2.21%. General Dynamics’s dividend payout ratio (DPR) is currently 35.73%.

In other General Dynamics news, VP Gary L. Whited sold 14,029 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total transaction of $2,642,783.02. Following the sale, the vice president now owns 37,542 shares of the company’s stock, valued at $7,072,161.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William A. Osborn sold 1,500 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $182.56, for a total transaction of $273,840.00. Following the sale, the director now directly owns 37,585 shares in the company, valued at approximately $6,861,517.60. The disclosure for this sale can be found here. Corporate insiders own 7.10% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of GD. Longview Asset Management LLC boosted its position in shares of General Dynamics by 0.7% during the 1st quarter. Longview Asset Management LLC now owns 32,898,410 shares of the aerospace company’s stock worth $5,569,043,000 after purchasing an additional 215,179 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of General Dynamics by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 21,270,773 shares of the aerospace company’s stock worth $3,867,453,000 after purchasing an additional 177,296 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of General Dynamics by 11.4% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,748,497 shares of the aerospace company’s stock worth $681,552,000 after purchasing an additional 383,200 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of General Dynamics by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 3,511,536 shares of the aerospace company’s stock worth $551,080,000 after purchasing an additional 193,294 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of General Dynamics by 5.3% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,590,209 shares of the aerospace company’s stock worth $470,952,000 after purchasing an additional 130,747 shares in the last quarter. 86.84% of the stock is currently owned by institutional investors and hedge funds.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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