Citigroup Increases General Dynamics (NYSE:GD) Price Target to $320.00

General Dynamics (NYSE:GD) had its price objective lifted by investment analysts at Citigroup from $300.00 to $320.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the aerospace company’s stock. Citigroup’s price target would suggest a potential upside of 12.51% from the stock’s current price.

Several other brokerages have also commented on GD. Barclays lifted their price objective on General Dynamics from $285.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Royal Bank of Canada lowered their target price on General Dynamics from $325.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on General Dynamics from $280.00 to $298.00 and gave the company an “overweight” rating in a research report on Thursday. Susquehanna lifted their target price on General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research report on Friday, April 12th. Finally, StockNews.com downgraded General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 3rd. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $285.63.

General Dynamics Stock Performance

Shares of GD opened at $284.41 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.92. General Dynamics has a one year low of $202.35 and a one year high of $296.50. The firm has a market capitalization of $78.03 billion, a P/E ratio of 23.20, a PEG ratio of 1.79 and a beta of 0.68. The business has a fifty day moving average of $280.86 and a 200 day moving average of $261.71.

General Dynamics (NYSE:GD) last issued its quarterly earnings data 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 return on equity of 16.48% and a net margin of 7.85%. The firm had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.26 billion. During the same period in the previous year, the firm earned $2.64 EPS. The business’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts anticipate that General Dynamics will post 14.56 EPS for the current year.

Insider Activity

In related news, CEO Phebe N. Novakovic sold 32,355 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $264.31, for a total value of $8,551,750.05. Following the sale, the chief executive officer now directly owns 773,977 shares in the company, valued at $204,569,860.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

A number of hedge funds have recently made changes to their positions in the company. Impact Partnership Wealth LLC increased its stake in General Dynamics by 411.5% during the third quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 107 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in General Dynamics by 1,406.1% during the third quarter. Exchange Traded Concepts LLC now owns 2,696 shares of the aerospace company’s stock worth $596,000 after acquiring an additional 2,517 shares during the last quarter. Private Trust Co. NA increased its stake in General Dynamics by 1.1% during the third quarter. Private Trust Co. NA now owns 4,210 shares of the aerospace company’s stock worth $930,000 after acquiring an additional 47 shares during the last quarter. CX Institutional increased its stake in General Dynamics by 123.9% during the third quarter. CX Institutional now owns 23,531 shares of the aerospace company’s stock worth $5,200,000 after acquiring an additional 13,022 shares during the last quarter. Finally, WASHINGTON TRUST Co increased its stake in General Dynamics by 3.9% during the third quarter. WASHINGTON TRUST Co now owns 2,659 shares of the aerospace company’s stock worth $588,000 after acquiring an additional 100 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

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.