General Dynamics (NYSE: GD) improved at Wells Fargo & Company
General dynamics (NYSE: GD) was upgraded by Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research report released Thursday, reports the Analyst Ratings Network. The company currently has a price target of $ 230.00 on shares of the aerospace company, up from its previous price target of $ 220.00. Wells Fargo & Company’s price target would suggest a potential rise of 12.82% from the current share price.
A number of other brokerages have also recently published reports on GD. Cowen reissued a “buy” note on General Dynamics shares in a report on Monday, August 9. Credit Suisse Group raised its price target on General Dynamics from $ 182.00 to $ 198.00 and rated the company “neutral” in a report released Thursday, July 29. The Goldman Sachs group upgraded General Dynamics from a “sell” rating to a “neutral” rating and set a price target of $ 176.00 for the company in a report released Thursday, September 23. Finally, Zacks Investment Research upgraded General Dynamics from a “hold” rating to a “buy” rating and set a price target of $ 208.00 for the company in a report released Thursday, August 5. Two investment analysts gave the stock a sell rating, two assigned a conservation rating, and eight gave the stock a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $ 213.91.
GD shares traded down $ 1.92 during the midday session Thursday, reaching $ 203.87. The company’s shares had a trading volume of 13,040 shares, compared to its average volume of 1,086,361. General Dynamics has a one-year low of $ 129.17 and a one-year high of 210 , $ 21. The company has a debt to equity ratio of 0.75, a quick ratio of 1.05, and a current ratio of 1.44. The company has a market cap of $ 56.99 billion, a PE ratio of 17.74, a price / earnings-growth ratio of 2.04 and a beta of 1.14. The stock’s 50-day moving average is $ 199.68 and its two-hundred-day moving average is $ 193.27.
General Dynamics (NYSE: GD) last released its results on Wednesday, October 27. The aerospace company reported EPS of $ 3.07 for the quarter, beating the consensus estimate of $ 2.97 by $ 0.10. The company posted revenue of $ 9.57 billion in the quarter, compared to $ 9.86 billion expected by analysts. General Dynamics recorded a return on equity of 21.50% and a net margin of 8.52%. General Dynamics quarterly revenue increased 1.5% compared to the same quarter last year. During the same period last year, the company made a profit of $ 2.90 per share. Analysts expect General Dynamics to post 11.49 EPS for the current fiscal year.
A number of hedge funds have recently changed their positions in the title. Royal Bank of Canada increased its position in General Dynamics by 5.2% in the second quarter. Royal Bank of Canada now owns 2,525,871 shares of the aerospace company valued at $ 475,520,000 after purchasing an additional 125,274 shares during the period. Bank of Montreal Can increased its holdings in General Dynamics by 12.2% in the second quarter. Bank of Montreal Can now owns 1,944,531 shares of the aerospace company valued at $ 367,185,000 after purchasing an additional 211,992 shares in the last quarter. Prospera Financial Services Inc increased its holdings in General Dynamics by 8,915.9% during the second quarter. Prospera Financial Services Inc now owns 1,894,060 shares of the aerospace company valued at $ 2,169,000 after purchasing an additional 1,873,052 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in General Dynamics by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,420,179 shares of the aerospace company valued at $ 267,363,000 after purchasing an additional 9,271 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in General Dynamics by 3.1% during the second quarter. Legal & General Group Plc now owns 1,298,882 shares of the aerospace company valued at $ 244,525,000 after purchasing an additional 39,571 shares in the last quarter. Hedge funds and other institutional investors hold 85.22% of the company’s shares.
About general dynamics
General Dynamics Corp. is an aerospace and defense company, which supplies tanks, rockets, missiles, submarines, warships, fighters and electronics to all military services. It operates in the following segments: aerospace, combat systems, information technology and marine systems.
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