General Dynamics (NYSE:GD) Sets New 52-Week High at $192.79

General Dynamics Co. (NYSE:GD)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $192.79 and last traded at $191.99, with a volume of 1374396 shares. The stock had previously closed at $191.69.

Several research analysts have issued reports on the company. Morgan Stanley increased their price objective on General Dynamics from $149.00 to $163.00 and gave the stock an “underweight” rating in a research note on Thursday, April 29th. Cowen increased their target price on General Dynamics from $183.00 to $210.00 and gave the stock an “outperform” rating in a report on Monday, March 29th. Robert W. Baird upgraded General Dynamics from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $180.00 to $243.00 in a report on Thursday, April 29th. Zacks Investment Research cut General Dynamics from a “hold” rating to a “sell” rating and set a $196.00 target price on the stock. in a report on Wednesday, April 7th. Finally, Wolfe Research restated an “underperform” rating on shares of General Dynamics in a report on Wednesday, April 14th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. General Dynamics presently has an average rating of “Hold” and a consensus target price of $182.81.

The company has a market capitalization of $54.26 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 2.40 and a beta of 1.03. The company has a 50-day moving average price of $182.98 and a 200-day moving average price of $160.43. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.90 and a current ratio of 1.29.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 28th. The aerospace company reported $2.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.31 by $0.17. The company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $8.95 billion. General Dynamics had a return on equity of 23.00% and a net margin of 8.33%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.43 EPS. As a group, sell-side analysts anticipate that General Dynamics Co. will post 11.06 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 7th. Stockholders of record on Friday, April 9th will be given a dividend of $1.19 per share. This is a positive change from General Dynamics’s previous quarterly dividend of $1.10. This represents a $4.76 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Thursday, April 8th. General Dynamics’s payout ratio is presently 39.73%.

Several institutional investors have recently bought and sold shares of GD. Dean Investment Associates LLC grew its position in shares of General Dynamics by 0.4% in the 1st quarter. Dean Investment Associates LLC now owns 15,286 shares of the aerospace company’s stock valued at $2,775,000 after purchasing an additional 55 shares during the period. Sage Capital Advisors llc grew its position in shares of General Dynamics by 0.3% in the 1st quarter. Sage Capital Advisors llc now owns 19,586 shares of the aerospace company’s stock valued at $3,556,000 after purchasing an additional 56 shares during the period. Patriot Investment Management Inc. grew its position in shares of General Dynamics by 3.1% in the 4th quarter. Patriot Investment Management Inc. now owns 2,087 shares of the aerospace company’s stock valued at $310,000 after purchasing an additional 62 shares during the period. Legacy Wealth Asset Management LLC grew its position in shares of General Dynamics by 2.4% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 2,716 shares of the aerospace company’s stock valued at $493,000 after purchasing an additional 64 shares during the period. Finally, Archford Capital Strategies LLC grew its position in shares of General Dynamics by 2.3% in the 1st quarter. Archford Capital Strategies LLC now owns 2,960 shares of the aerospace company’s stock valued at $544,000 after purchasing an additional 66 shares during the period. Institutional investors own 84.48% of the company’s stock.

General Dynamics Company Profile (NYSE:GD)

General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, and Marine Systems.

Further Reading: Debt-To-Equity Ratio

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