Citigroup Inc. Reaffirms Neutral Rating for General Dynamics Corporation (GD)

Citigroup Inc. reaffirmed their neutral rating on shares of General Dynamics Corporation (NYSE:GD) in a report issued on Monday. The brokerage currently has a $215.00 price target on the aerospace company’s stock, up from their previous price target of $210.00.

Several other equities research analysts have also issued reports on GD. UBS AG reiterated a buy rating and set a $225.00 target price (up from $215.00) on shares of General Dynamics Corporation in a research report on Monday, June 12th. BidaskClub lowered shares of General Dynamics Corporation from a strong-buy rating to a buy rating in a research report on Tuesday, June 27th. Jefferies Group LLC reiterated a buy rating and set a $220.00 target price on shares of General Dynamics Corporation in a research report on Friday, July 7th. Berenberg Bank initiated coverage on shares of General Dynamics Corporation in a research report on Wednesday, July 12th. They set a buy rating and a $230.00 target price for the company. Finally, Zacks Investment Research lowered shares of General Dynamics Corporation from a buy rating to a hold rating in a research report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. General Dynamics Corporation currently has a consensus rating of Buy and a consensus price target of $209.45.

General Dynamics Corporation (NYSE GD) opened at 212.83 on Monday. The company’s 50-day moving average is $203.60 and its 200-day moving average is $198.55. General Dynamics Corporation has a 52-week low of $148.76 and a 52-week high of $214.11. The firm has a market capitalization of $63.80 billion, a PE ratio of 21.03 and a beta of 0.72.

General Dynamics Corporation (NYSE:GD) last announced its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.02. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The business had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.76 billion. During the same period in the previous year, the business posted $2.30 earnings per share. General Dynamics Corporation’s revenue for the quarter was down 1.3% on a year-over-year basis. Analysts forecast that General Dynamics Corporation will post $9.81 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics Corporation’s payout ratio is 34.57%.

Several hedge funds and other institutional investors have recently modified their holdings of GD. BlackRock Inc. increased its stake in shares of General Dynamics Corporation by 2,645.5% in the first quarter. BlackRock Inc. now owns 15,509,344 shares of the aerospace company’s stock worth $2,903,351,000 after buying an additional 14,944,453 shares during the period. Janus Henderson Group PLC increased its stake in shares of General Dynamics Corporation by 44,941.4% in the second quarter. Janus Henderson Group PLC now owns 4,998,693 shares of the aerospace company’s stock worth $990,241,000 after buying an additional 4,987,595 shares during the period. Vanguard Group Inc. increased its stake in shares of General Dynamics Corporation by 4.7% in the first quarter. Vanguard Group Inc. now owns 19,799,817 shares of the aerospace company’s stock worth $3,706,525,000 after buying an additional 894,177 shares during the period. Janus Capital Management LLC increased its stake in shares of General Dynamics Corporation by 22.1% in the first quarter. Janus Capital Management LLC now owns 4,148,390 shares of the aerospace company’s stock worth $776,563,000 after buying an additional 749,793 shares during the period. Finally, Capital Research Global Investors increased its stake in shares of General Dynamics Corporation by 4.5% in the second quarter. Capital Research Global Investors now owns 16,792,408 shares of the aerospace company’s stock worth $3,326,576,000 after buying an additional 725,896 shares during the period. 86.17% of the stock is currently owned by institutional investors.

General Dynamics Corporation Company Profile

General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.

Analyst Recommendations for General Dynamics Corporation (NYSE:GD)

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