General Dynamics (NYSE:GD) Upgraded by TD Cowen to “Strong-Buy”

General Dynamics (NYSE:GD) was upgraded by stock analysts at TD Cowen to a “strong-buy” rating in a research report issued on Tuesday, Zacks.com reports.

Several other analysts have also weighed in on GD. Robert W. Baird reaffirmed an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. BTIG Research assumed coverage on General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective on the stock. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Barclays lifted their target price on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a report on Thursday, July 25th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $317.06.

General Dynamics Trading Down 0.1 %

NYSE GD opened at $296.90 on Tuesday. General Dynamics has a 12 month low of $228.50 and a 12 month high of $309.97. The stock has a 50 day moving average of $297.43 and a 200-day moving average of $293.21. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The company has a market cap of $81.46 billion, a PE ratio of 24.22, a PEG ratio of 1.68 and a beta of 0.61.

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

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On General Dynamics

A number of institutional investors have recently added to or reduced their stakes in GD. Connectus Wealth LLC increased its position in shares of General Dynamics by 14.1% during the 4th quarter. Connectus Wealth LLC now owns 2,736 shares of the aerospace company’s stock valued at $711,000 after purchasing an additional 339 shares during the last quarter. Cresset Asset Management LLC boosted its position in shares of General Dynamics by 6.0% during the fourth quarter. Cresset Asset Management LLC now owns 42,509 shares of the aerospace company’s stock valued at $11,038,000 after purchasing an additional 2,422 shares in the last quarter. Jacobi Capital Management LLC raised its stake in General Dynamics by 4.1% during the fourth quarter. Jacobi Capital Management LLC now owns 6,670 shares of the aerospace company’s stock valued at $1,732,000 after buying an additional 260 shares during the last quarter. Bontempo Ohly Capital Mgmt LLC raised its stake in General Dynamics by 2.7% during the fourth quarter. Bontempo Ohly Capital Mgmt LLC now owns 16,135 shares of the aerospace company’s stock valued at $4,190,000 after buying an additional 426 shares during the last quarter. Finally, Gladstone Capital Management LLP purchased a new position in General Dynamics during the fourth quarter valued at $3,869,000. 86.14% of the stock is currently owned by institutional investors.

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.