General Dynamics (NYSE:GD – Get Ratings) Benzinga said in a memo issued to investors on Friday that equity research analysts at JPMorgan Chase & Co. lowered its target price to $245.00 from $260.00. Brokerages currently rate the stocks of aerospace companies as “overweight.” JPMorgan Chase’s price target suggests a 7.40% upside from the current share price.
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A number of other research firms have also recently joined GD. StockNews.com upgraded its rating on General Dynamics from “buy” to “strong buy” in a research report on Tuesday. Cowen raised General Dynamics’ price target from his $260.00 to his $285.00 in a research note on Tuesday, Jan. 3. Wolfe Research began covering the general dynamics in its research report on Monday, October 10th. They announced an “Outperform” rating and a price target of $265.00 for the company. Citigroup lowered its price target on General Dynamics from $298.00 to $283.00 and gave the stock a ‘buy’ rating in a research report on Thursday. Finally, Robert W. Baird lowered General Dynamics’ price target from his $290.00 to $268.00 in a research report on Thursday. Two equity research analysts issued a Hold rating, six Buy ratings and one Strong Buy rating on the stock. According to MarketBeat data, General Dynamics currently has an average rating of “moderate buy” and a consensus target price of $267.15.
Price performance in general dynamics
General Dynamics shares opened Friday at $228.11. His one-year low on General Dynamics is $205.08 and his one-year high is $256.86. His 50-day moving average price for this business is $245.92 and his 200-day moving average price is $236.29. The company has a debt to equity ratio of 0.50, a current ratio of 1.37 and a quick ratio of 0.94. The company has a market capitalization of $62.63 billion, a P/E ratio of 18.70, a PEG ratio of 1.90 and a beta of 0.88.
General Dynamics (NYSE:GD – Get Rating) last published its quarterly earnings data on Wednesday, January 25. The aerospace company earned $3.58 in earnings per share (EPS) for the quarter, $0.05 above analyst consensus expectations of $3.53. General Dynamics’ return on equity was 18.93% and net profit margin was 8.60%. The company posted revenue of $10.85 billion for the quarter, compared to consensus expectations of $10.66 billion. During the same quarter last year, the business posted earnings of $3.39 per share for him. The company’s revenue increased by 5.4% compared to the same quarter last year. As a group, equity research analysts expect General Dynamics to post his 13.92 EPS this year.
Institutional trading in general dynamics
Institutional investors recently changed their holdings in the company. Goldman Sachs Group raised its General Dynamics stake 31.5% in the second quarter. Goldman Sachs Group Inc. now owns 1,411,406 shares of the aerospace company valued at $312,273,000 after purchasing an additional 337,999 shares during this period. Royal London Asset Management Ltd. raised its General Dynamics stake by 8.1% in the second quarter. Royal London Asset Management Ltd. now owns 103,739 shares in the aerospace company worth $22,959,000 after purchasing an additional 7,795 of his shares during the previous quarter. AMG National Trust Bank raised an 81.3% stake in General Dynamics in the third quarter. AMG National Trust Bank now owns 4,370 shares in the aerospace company worth $927,000 after he purchased an additional 1,960 shares during the previous quarter. Cambridge Investment Research Advisors Inc. increased its General Dynamics holdings by 10.6% in the third quarter. Cambridge Investment Research Advisors now owns 60,306 shares of the aerospace company valued at $12,795,000 after purchasing an additional 5,784 shares in the previous quarter. Finally, Tsfg LLC increased its General Dynamics holdings by 19.6% in the third quarter. Tsfg LLC now owns 317 shares worth $67,000 in aerospace companies after purchasing an additional 52 shares last quarter. Currently 84.83% of the shares are owned by institutional investors.
About the dynamics in general
General Dynamics Corporation is an aerospace and defense company with operations around the world. He operates in four segments: Aerospace, Marine Systems, Combat Systems, and Technology. The Aerospace segment designs, manufactures and sells business jets. We provide aircraft maintenance and repair, management, charter, aircraft ground support and completion, staffing, and fixed base operator services.
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