General Dynamics (NYSE:GD) Price Target Raised to $173.00 at Morgan Stanley

General Dynamics (NYSE:GD) had its price objective upped by research analysts at Morgan Stanley from $171.00 to $173.00 in a report issued on Wednesday, BenzingaRatingsTable reports. The firm currently has an “underweight” rating on the aerospace company’s stock. Morgan Stanley’s price objective indicates a potential downside of 4.50% from the company’s current price.

A number of other research analysts have also weighed in on the company. Goldman Sachs Group raised General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 price target on the stock in a research note on Sunday, May 19th. UBS Group increased their price target on General Dynamics from $175.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. raised General Dynamics from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $188.00 to $200.00 in a research note on Thursday, April 25th. They noted that the move was a valuation call. Cowen reissued a “buy” rating and set a $202.00 price target on shares of General Dynamics in a research note on Wednesday, April 24th. Finally, Robert W. Baird increased their price target on General Dynamics from $188.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the stock. General Dynamics has a consensus rating of “Hold” and an average target price of $191.47.

Shares of General Dynamics stock traded down $1.95 during trading hours on Wednesday, reaching $181.16. 4,153 shares of the company’s stock were exchanged, compared to its average volume of 1,271,853. General Dynamics has a 52-week low of $143.87 and a 52-week high of $207.72. The company has a market capitalization of $52.37 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 1.78 and a beta of 1.21. The company’s fifty day moving average is $183.58. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.09 and a quick ratio of 0.73.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $2.77 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.09. General Dynamics had a return on equity of 26.81% and a net margin of 8.65%. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.36 billion. During the same quarter in the prior year, the company posted $2.82 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, equities analysts forecast that General Dynamics will post 11.83 EPS for the current year.

In related news, Director William A. Osborn sold 1,500 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $182.56, for a total value of $273,840.00. Following the completion of the sale, the director now directly owns 37,585 shares in the company, valued at approximately $6,861,517.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Gary L. Whited sold 14,029 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $188.38, for a total value of $2,642,783.02. Following the completion of the sale, the vice president now owns 37,542 shares of the company’s stock, valued at $7,072,161.96. The disclosure for this sale can be found here. 7.10% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harvest Group Wealth Management LLC purchased a new position in General Dynamics in the 1st quarter valued at about $28,000. TCG Advisors LP purchased a new position in General Dynamics in the 1st quarter valued at about $38,000. Zions Bancorporation N.A. purchased a new position in General Dynamics in the 1st quarter valued at about $40,000. Princeton Global Asset Management LLC purchased a new position in General Dynamics in the 1st quarter valued at about $42,000. Finally, Horan Capital Advisors LLC. purchased a new position in General Dynamics in the 1st quarter valued at about $47,000. Hedge funds and other institutional investors own 86.84% of the company’s stock.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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