General Dynamics (NYSE:GD) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of General Dynamics (NYSE:GD) in a report published on Thursday, Benzinga reports. They currently have a $320.00 price objective on the aerospace company’s stock.

Several other equities analysts also recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on General Dynamics from $280.00 to $298.00 and gave the company an overweight rating in a research report on Thursday, April 25th. BTIG Research began coverage on General Dynamics in a research report on Wednesday, June 26th. They set a buy rating and a $345.00 target price for the company. Robert W. Baird restated an outperform rating and set a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. StockNews.com downgraded General Dynamics from a strong-buy rating to a buy rating in a research report on Friday, May 3rd. Finally, Sanford C. Bernstein boosted their target price on General Dynamics from $290.00 to $302.00 and gave the stock a market perform rating in a research report on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, General Dynamics has an average rating of Moderate Buy and an average price target of $311.33.

General Dynamics Trading Down 0.1 %

Shares of GD opened at $290.68 on Thursday. The stock has a fifty day moving average price of $292.82 and a two-hundred day moving average price of $281.91. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.87 and a current ratio of 1.33. General Dynamics has a 52-week low of $214.53 and a 52-week high of $302.75. The company has a market cap of $79.75 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 1.63 and a beta of 0.60.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter in the previous year, the firm posted $2.70 EPS. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. Analysts predict that General Dynamics will post 14.54 EPS for the current fiscal year.

General Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be paid a $1.42 dividend. The ex-dividend date is Friday, July 5th. This represents a $5.68 annualized dividend and a yield of 1.95%. General Dynamics’s dividend payout ratio is 46.33%.

Insider Transactions at General Dynamics

In other news, Director Leon Rudy F. De sold 2,570 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $288.00, for a total transaction of $740,160.00. Following the transaction, the director now owns 5,518 shares in the company, valued at $1,589,184. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP William A. Moss sold 21,050 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $294.85, for a total transaction of $6,206,592.50. Following the sale, the vice president now owns 16,624 shares of the company’s stock, valued at $4,901,586.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Leon Rudy F. De sold 2,570 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $288.00, for a total value of $740,160.00. Following the sale, the director now directly owns 5,518 shares in the company, valued at approximately $1,589,184. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,636 shares of company stock worth $20,209,317. Company insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

A number of large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in General Dynamics by 2.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock worth $1,351,041,000 after buying an additional 115,063 shares in the last quarter. Sanders Capital LLC boosted its holdings in shares of General Dynamics by 3.7% in the 4th quarter. Sanders Capital LLC now owns 4,164,857 shares of the aerospace company’s stock valued at $1,081,488,000 after purchasing an additional 147,800 shares in the last quarter. Norges Bank acquired a new stake in shares of General Dynamics in the 4th quarter valued at $728,284,000. Northern Trust Corp boosted its holdings in shares of General Dynamics by 1.1% in the 4th quarter. Northern Trust Corp now owns 2,282,757 shares of the aerospace company’s stock valued at $592,764,000 after purchasing an additional 24,395 shares in the last quarter. Finally, Boston Partners boosted its holdings in shares of General Dynamics by 1.4% in the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after purchasing an additional 23,262 shares in the last quarter. Institutional investors and hedge funds 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.