General Dynamics (NYSE:GD) Given New $240.00 Price Target at Credit Suisse Group

General Dynamics (NYSE:GDGet Rating) had its price objective decreased by analysts at Credit Suisse Group from $243.00 to $240.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the aerospace company’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 3.10% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. StockNews.com cut General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 14th. Cowen increased their target price on General Dynamics from $260.00 to $285.00 in a report on Tuesday, January 3rd. Citigroup began coverage on General Dynamics in a report on Thursday, December 8th. They set a “buy” rating and a $298.00 target price for the company. Wolfe Research began coverage on General Dynamics in a research report on Monday, October 10th. They issued an “outperform” rating and a $265.00 price target for the company. Finally, Bank of America upped their price target on General Dynamics from $286.00 to $325.00 in a research report on Friday, October 28th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $273.64.

General Dynamics Stock Performance

NYSE GD opened at $232.79 on Thursday. The stock has a market capitalization of $63.91 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 2.01 and a beta of 0.88. General Dynamics has a twelve month low of $200.65 and a twelve month high of $256.86. The company has a current ratio of 1.34, a quick ratio of 0.94 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average of $247.06 and a 200 day moving average of $235.96.

General Dynamics (NYSE:GDGet Rating) last announced its earnings results on Wednesday, October 26th. The aerospace company reported $3.26 EPS for the quarter, beating analysts’ consensus estimates of $3.16 by $0.10. General Dynamics had a return on equity of 18.96% and a net margin of 8.62%. The business had revenue of $9.98 billion during the quarter, compared to analysts’ expectations of $9.93 billion. During the same quarter in the prior year, the firm earned $3.07 earnings per share. The business’s revenue was up 4.3% compared to the same quarter last year. Sell-side analysts anticipate that General Dynamics will post 12.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in General Dynamics by 4.5% during the third quarter. Vanguard Group Inc. now owns 21,906,138 shares of the aerospace company’s stock worth $4,647,825,000 after purchasing an additional 952,906 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in General Dynamics by 33.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,074,113 shares of the aerospace company’s stock worth $1,288,745,000 after purchasing an additional 1,529,207 shares in the last quarter. Northern Trust Corp lifted its stake in General Dynamics by 4.3% during the second quarter. Northern Trust Corp now owns 2,430,036 shares of the aerospace company’s stock worth $537,646,000 after purchasing an additional 100,963 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in General Dynamics by 3.2% during the third quarter. Bank of New York Mellon Corp now owns 1,862,536 shares of the aerospace company’s stock worth $395,175,000 after purchasing an additional 57,554 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in General Dynamics by 31.5% during the second quarter. Goldman Sachs Group Inc. now owns 1,411,406 shares of the aerospace company’s stock worth $312,273,000 after purchasing an additional 337,999 shares in the last quarter. 84.83% of the stock is currently owned by hedge funds and other institutional investors.

About General Dynamics

(Get Rating)

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment designs, manufactures, and sells business jets; and offers aircraft maintenance and repair, management, charter, aircraft-on-ground support and completion, staffing, and fixed-base operator services.

See Also

Analyst Recommendations for General Dynamics (NYSE:GD)

Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.