General Dynamics (NYSE:GD) Sets New 52-Week High at $307.22

General Dynamics Co. (NYSE:GD) shares hit a new 52-week high during trading on Monday . The company traded as high as $307.22 and last traded at $307.22, with a volume of 2310 shares traded. The stock had previously closed at $304.80.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GD shares. Wells Fargo & Company raised their price objective on General Dynamics from $330.00 to $334.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $293.00 to $345.00 in a research report on Friday, August 9th. BTIG Research began coverage on shares of General Dynamics in a report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 target price for the company. Finally, Robert W. Baird reiterated an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a report on Tuesday, July 2nd. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $315.06.

General Dynamics Stock Performance

The company has a market cap of $83.96 billion, a PE ratio of 24.86, a P/E/G ratio of 1.64 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The business’s fifty day moving average is $292.48 and its 200-day moving average is $290.09.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). The company had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter last year, the company earned $2.70 earnings per share. As a group, research analysts predict that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be given a dividend of $1.42 per share. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.86%. General Dynamics’s payout ratio is currently 46.33%.

Institutional Investors Weigh In On General Dynamics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gilbert & Cook Inc. boosted its holdings in General Dynamics by 5.1% in the 4th quarter. Gilbert & Cook Inc. now owns 2,509 shares of the aerospace company’s stock worth $652,000 after buying an additional 122 shares during the period. Foundations Investment Advisors LLC lifted its holdings in General Dynamics by 11.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 1,455 shares of the aerospace company’s stock worth $388,000 after purchasing an additional 155 shares in the last quarter. Great Lakes Advisors LLC boosted its position in shares of General Dynamics by 33.0% during the fourth quarter. Great Lakes Advisors LLC now owns 19,166 shares of the aerospace company’s stock worth $4,977,000 after acquiring an additional 4,752 shares during the last quarter. Level Four Advisory Services LLC grew its position in shares of General Dynamics by 6.6% during the fourth quarter. Level Four Advisory Services LLC now owns 5,691 shares of the aerospace company’s stock valued at $1,478,000 after purchasing an additional 353 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of General Dynamics by 54.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 24,034 shares of the aerospace company’s stock worth $6,241,000 after purchasing an additional 8,432 shares during the last quarter. 86.14% of the stock is 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.