Wells Fargo & Company Raises General Dynamics (NYSE:GD) Price Target to $334.00

General Dynamics (NYSE:GD) had its target price hoisted by Wells Fargo & Company from $330.00 to $334.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the aerospace company’s stock.

GD has been the subject of a number of other research reports. JPMorgan Chase & Co. increased their target price on shares of General Dynamics from $280.00 to $298.00 and gave the company an overweight rating in a research report on Thursday, April 25th. Royal Bank of Canada reissued an outperform rating and set a $320.00 target price on shares of General Dynamics in a research note on Thursday. BTIG Research initiated coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They set a buy rating and a $345.00 price target on the stock. Robert W. Baird reissued an outperform rating and issued a $345.00 price objective on shares of General Dynamics in a research report on Tuesday, July 2nd. Finally, Barclays upped their target price on General Dynamics from $285.00 to $310.00 and gave the company an overweight rating in a research report on Monday, April 15th. Six 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, the stock has a consensus rating of Moderate Buy and a consensus price target of $311.33.

General Dynamics Price Performance

Shares of NYSE:GD opened at $290.40 on Thursday. The firm has a market cap of $79.80 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 1.66 and a beta of 0.60. General Dynamics has a 52 week low of $214.53 and a 52 week high of $302.75. The firm’s fifty day moving average is $292.65 and its 200-day moving average is $282.38. 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 (NYSE:GD) last announced its earnings results 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 for the quarter, compared to analyst estimates of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.70 earnings per share. Sell-side analysts predict that General Dynamics will post 14.51 earnings per share for the current 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. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, July 5th. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

Insider Transactions at General Dynamics

In related news, CFO Kimberly A. Kuryea sold 13,344 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $298.16, for a total value of $3,978,647.04. Following the transaction, the chief financial officer now owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, VP Gregory S. Gallopoulos sold 13,567 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the transaction, the vice president now directly owns 103,345 shares of the company’s stock, valued at $29,816,065.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the transaction, the chief financial officer now owns 79,255 shares in the company, valued at $23,630,670.80. The disclosure for this sale can be found here. Insiders sold a total of 68,636 shares of company stock valued at $20,209,317 over the last three months. Corporate insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

Several institutional investors and hedge funds have recently added to or reduced their stakes in GD. Pacer Advisors Inc. boosted its position in General Dynamics by 99.3% in the fourth quarter. Pacer Advisors Inc. now owns 29,045 shares of the aerospace company’s stock worth $7,542,000 after purchasing an additional 14,468 shares during the last quarter. Schechter Investment Advisors LLC grew its position in General Dynamics by 1.1% during the fourth quarter. Schechter Investment Advisors LLC now owns 4,591 shares of the aerospace company’s stock valued at $1,192,000 after buying an additional 49 shares during the period. IFG Advisory LLC increased its holdings in General Dynamics by 42.2% during the fourth quarter. IFG Advisory LLC now owns 3,315 shares of the aerospace company’s stock worth $861,000 after buying an additional 984 shares during the last quarter. Trueblood Wealth Management LLC purchased a new stake in General Dynamics during the fourth quarter worth about $540,000. Finally, Accel Wealth Management raised its position in General Dynamics by 6.9% in the fourth quarter. Accel Wealth Management now owns 1,321 shares of the aerospace company’s stock worth $343,000 after acquiring an additional 85 shares during the period. Hedge funds and other 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.