General Dynamics Corporation (GD) Raised to Buy at Zacks Investment Research
General Dynamics Corporation (NYSE:GD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday, October 2nd. The firm currently has a $230.00 price objective on the aerospace company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 7.81% from the stock’s previous close.
According to Zacks, “Being one of the only two contractors in the world equipped to build nuclear-powered submarines, General Dynamics’ diverse portfolio of products and services along with its wide customer base provides it with an opportunity to generate solid revenues from different sources. Moreover, the recently approved fiscal 2018 defense policy bill, which includes provision to spend $6 billion in Navy shipbuilding, will surely boost the company's growth trajectory. Also its Gulfstream business continues to grow on the back of solid jet sales. However, the company operates in a highly competitive market and has to rely on other companies to provide materials, components and subsystems for its products.”
A number of other analysts have also issued reports on GD. UBS AG reissued a “buy” rating and issued a $225.00 price target (up from $215.00) on shares of General Dynamics Corporation in a research report on Monday, June 12th. BidaskClub raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Jefferies Group LLC reaffirmed a “buy” rating on shares of General Dynamics Corporation in a research report on Friday, August 11th. Morgan Stanley started coverage on General Dynamics Corporation in a report on Tuesday, August 8th. They set an “underweight” rating and a $185.00 price target on the stock. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $210.00 price target (up previously from $207.00) on shares of General Dynamics Corporation in a report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. General Dynamics Corporation currently has a consensus rating of “Buy” and an average target price of $209.45.
General Dynamics Corporation (NYSE GD) traded down 0.18% during midday trading on Monday, reaching $213.34. 782,786 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $204.39 and its 200-day moving average price is $198.86. General Dynamics Corporation has a 1-year low of $148.76 and a 1-year high of $214.81. The company has a market capitalization of $63.96 billion, a PE ratio of 21.08 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 EPS for the quarter, topping the consensus estimate of $2.43 by $0.02. The company had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the company posted $2.30 earnings per share. Equities analysts expect that General Dynamics Corporation will post $9.81 EPS for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teachers Advisors LLC lifted its stake in General Dynamics Corporation by 92.8% in the 1st quarter. Teachers Advisors LLC now owns 578,526 shares of the aerospace company’s stock valued at $108,300,000 after acquiring an additional 278,394 shares in the last quarter. HCR Wealth Advisors raised its stake in shares of General Dynamics Corporation by 3.3% during the 1st quarter. HCR Wealth Advisors now owns 1,228 shares of the aerospace company’s stock worth $230,000 after purchasing an additional 39 shares in the last quarter. Burney Co. raised its stake in shares of General Dynamics Corporation by 5.8% during the 1st quarter. Burney Co. now owns 25,410 shares of the aerospace company’s stock worth $4,757,000 after purchasing an additional 1,404 shares in the last quarter. Boston Advisors LLC raised its stake in shares of General Dynamics Corporation by 13.4% during the 2nd quarter. Boston Advisors LLC now owns 6,760 shares of the aerospace company’s stock worth $1,339,000 after purchasing an additional 800 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of General Dynamics Corporation by 12.2% during the 1st quarter. Morgan Stanley now owns 1,139,288 shares of the aerospace company’s stock worth $213,274,000 after purchasing an additional 124,077 shares in the last quarter. Hedge funds and other institutional investors own 86.17% of the company’s stock.
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.
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