General Dynamics Co. (NYSE:GD) has been assigned an average rating of “Buy” from the sixteen ratings firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $187.21.
Several research firms recently issued reports on GD. UBS Group reduced their price target on General Dynamics from $190.00 to $171.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Susquehanna Bancshares boosted their price target on General Dynamics from $167.00 to $184.00 and gave the company a “positive” rating in a research note on Thursday, June 4th. Seaport Global Securities began coverage on General Dynamics in a research note on Tuesday, May 19th. They issued a “buy” rating and a $188.00 price target for the company. TheStreet upgraded General Dynamics from a “c” rating to a “b-” rating in a research note on Tuesday. Finally, Credit Suisse Group reduced their price target on General Dynamics from $191.00 to $153.00 and set a “neutral” rating for the company in a research note on Thursday, April 30th.
Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP grew its position in shares of General Dynamics by 16.3% in the 1st quarter. Wellington Management Group LLP now owns 15,587,245 shares of the aerospace company’s stock valued at $2,062,349,000 after buying an additional 2,180,725 shares during the last quarter. Franklin Resources Inc. grew its position in shares of General Dynamics by 22.9% in the 1st quarter. Franklin Resources Inc. now owns 4,678,144 shares of the aerospace company’s stock valued at $618,966,000 after buying an additional 872,906 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of General Dynamics by 21.0% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,665,897 shares of the aerospace company’s stock valued at $617,345,000 after buying an additional 808,400 shares during the last quarter. Geode Capital Management LLC grew its position in shares of General Dynamics by 1.6% in the 1st quarter. Geode Capital Management LLC now owns 3,290,115 shares of the aerospace company’s stock valued at $434,355,000 after buying an additional 50,688 shares during the last quarter. Finally, Aristotle Capital Management LLC grew its position in shares of General Dynamics by 1.5% in the 1st quarter. Aristotle Capital Management LLC now owns 3,201,630 shares of the aerospace company’s stock valued at $423,608,000 after buying an additional 48,864 shares during the last quarter. Institutional investors and hedge funds own 85.57% of the company’s stock.
General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, April 29th. The aerospace company reported $2.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.46 by ($0.03). General Dynamics had a return on equity of 25.92% and a net margin of 8.87%. The business had revenue of $8.75 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the prior year, the firm posted $2.56 earnings per share. The business’s revenue was down 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that General Dynamics will post 11.14 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 3rd will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $4.40 dividend on an annualized basis and a yield of 3.01%. General Dynamics’s dividend payout ratio is currently 36.73%.
General Dynamics announced that its Board of Directors has authorized a share repurchase program on Wednesday, March 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
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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