General Dynamics (NYSE:GD) Stock Price Up 2.6%

General Dynamics Co. (NYSE:GD)’s share price was up 2.6% during trading on Thursday . The company traded as high as $293.98 and last traded at $292.05. Approximately 357,983 shares were traded during trading, a decline of 66% from the average daily volume of 1,062,513 shares. The stock had previously closed at $284.67.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on General Dynamics from $291.00 to $322.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. upped their price objective on General Dynamics from $280.00 to $298.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Barclays raised their target price on shares of General Dynamics from $285.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. StockNews.com downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Friday, May 3rd. Finally, Susquehanna lifted their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the company a “positive” rating in a research report on Friday, April 12th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $310.67.

General Dynamics Trading Up 3.1 %

The company has a market cap of $80.53 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 1.68 and a beta of 0.60. The firm has a 50-day moving average of $292.91 and a 200 day moving average of $281.84. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.41.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). The business had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. The company’s revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.70 EPS. On average, analysts predict that General Dynamics Co. will post 14.54 earnings per share for the current fiscal year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a dividend of $1.42 per share. The ex-dividend date is Friday, July 5th. This represents a $5.68 annualized dividend and a dividend yield of 1.94%. General Dynamics’s payout ratio is 46.33%.

Insider Activity at General Dynamics

In other General Dynamics news, VP William A. Moss sold 21,050 shares of General Dynamics stock in a transaction on Monday, May 13th. The shares were sold at an average price of $294.85, for a total transaction of $6,206,592.50. Following the transaction, the vice president now directly owns 16,624 shares of the company’s stock, valued at approximately $4,901,586.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other General Dynamics news, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total value of $3,978,647.04. Following the completion of the transaction, the chief financial officer now owns 79,255 shares in the company, valued at approximately $23,630,670.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William A. Moss sold 21,050 shares of General Dynamics stock in a transaction on Monday, May 13th. The stock was sold at an average price of $294.85, for a total value of $6,206,592.50. Following the sale, the vice president now owns 16,624 shares in the company, valued at $4,901,586.40. The disclosure for this sale can be found here. In the last three months, insiders sold 118,486 shares of company stock valued at $34,391,642. 1.52% of the stock is owned by insiders.

Institutional Trading of General Dynamics

Several hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in General Dynamics during the fourth quarter valued at $728,284,000. International Assets Investment Management LLC increased its holdings in General Dynamics by 10,763.2% in the 4th quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock worth $239,829,000 after acquiring an additional 915,091 shares during the last quarter. Verity & Verity LLC bought a new stake in General Dynamics in the 1st quarter valued at about $179,000. 1832 Asset Management L.P. lifted its holdings in General Dynamics by 3,645.4% during the fourth quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock valued at $145,048,000 after purchasing an additional 543,672 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in shares of General Dynamics by 879.9% in the first quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock worth $96,148,000 after purchasing an additional 305,624 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

About General Dynamics

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.