General Dynamics (NYSE:GD) Given New $284.00 Price Target at The Goldman Sachs Group

General Dynamics (NYSE:GD) had its target price raised by equities research analysts at The Goldman Sachs Group from $253.00 to $284.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the aerospace company’s stock. The Goldman Sachs Group’s price target would suggest a potential downside of 0.55% from the company’s previous close.

A number of other equities research analysts also recently commented on GD. Alembic Global Advisors downgraded shares of General Dynamics from an “overweight” rating to a “neutral” rating and set a $296.00 price target for the company. in a report on Monday, January 29th. Barclays boosted 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. Wells Fargo & Company upped their price objective on shares of General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Royal Bank of Canada upped their price target on shares of General Dynamics from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd. Finally, Citigroup upped their target price on General Dynamics from $283.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $283.80.

General Dynamics Trading Up 0.3 %

Shares of General Dynamics stock traded up $0.81 on Tuesday, reaching $285.56. The company had a trading volume of 73,499 shares, compared to its average volume of 1,061,410. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.44. The firm has a market cap of $78.35 billion, a PE ratio of 23.79, a PEG ratio of 1.83 and a beta of 0.68. The firm’s 50 day moving average price is $277.72 and its two-hundred day moving average price is $258.21. General Dynamics has a 52-week low of $202.35 and a 52-week high of $296.50.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, January 24th. The aerospace company reported $3.64 EPS for the quarter, missing the consensus estimate of $3.68 by ($0.04). General Dynamics had a return on equity of 16.61% and a net margin of 7.84%. The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.39 billion. During the same quarter last year, the firm earned $3.58 EPS. The company’s revenue was up 7.5% on a year-over-year basis. Sell-side analysts predict that General Dynamics will post 14.57 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $264.31, for a total value of $8,551,750.05. Following the transaction, the chief executive officer now owns 773,977 shares in the company, valued at $204,569,860.87. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Mark C. Roualet sold 73,330 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $264.75, for a total value of $19,414,117.50. Following the completion of the sale, the executive vice president now directly owns 149,205 shares of the company’s stock, valued at $39,502,023.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Phebe N. Novakovic sold 32,355 shares of General Dynamics stock in a transaction on Monday, January 29th. The stock was sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the completion of the transaction, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at $204,569,860.87. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Institutional Trading of General Dynamics

Several institutional investors and hedge funds have recently bought and sold shares of GD. MeadowBrook Investment Advisors LLC purchased a new stake in shares of General Dynamics during the fourth quarter worth $25,000. Richardson Financial Services Inc. acquired a new stake in shares of General Dynamics during the fourth quarter worth about $25,000. Certified Advisory Corp acquired a new stake in shares of General Dynamics during the first quarter worth about $25,000. Briaud Financial Planning Inc acquired a new stake in shares of General Dynamics during the third quarter worth about $27,000. Finally, Impact Partnership Wealth LLC raised its holdings in General Dynamics by 411.5% in the third quarter. Impact Partnership Wealth LLC now owns 133 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 107 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

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.