General Dynamics (NYSE:GD) Hits New 1-Year High - Time to Buy?

General Dynamics Co. (NYSE:GD - Get Free Report)'s share price hit a new 52-week high on Monday . The company traded as high as $314.95 and last traded at $314.95, with a volume of 75896 shares changing hands. The stock had previously closed at $309.47.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GD. Sanford C. Bernstein reduced their target price on General Dynamics from $343.00 to $331.00 and set a "market perform" rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada lifted their target price on General Dynamics from $320.00 to $330.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Morgan Stanley upgraded General Dynamics from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Seaport Res Ptn cut General Dynamics from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 11th. Finally, Wells Fargo & Company boosted their price objective on General Dynamics from $317.00 to $322.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $323.69.

General Dynamics Price Performance

The company has a 50 day simple moving average of $301.62 and a 200-day simple moving average of $295.71. The stock has a market cap of $86.32 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 1.87 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the previous year, the company earned $3.04 EPS. The company's quarterly revenue was up 10.4% compared to the same quarter last year. As a group, research analysts anticipate that General Dynamics Co. will post 13.97 EPS for the current fiscal year.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.52% of the company's stock.

Institutional Investors Weigh In On General Dynamics

Several large investors have recently modified their holdings of the stock. Atomi Financial Group Inc. lifted its holdings in shares of General Dynamics by 15.1% in the first quarter. Atomi Financial Group Inc. now owns 1,850 shares of the aerospace company's stock valued at $523,000 after purchasing an additional 243 shares in the last quarter. NorthRock Partners LLC raised its holdings in shares of General Dynamics by 3.0% during the first quarter. NorthRock Partners LLC now owns 2,679 shares of the aerospace company's stock worth $757,000 after acquiring an additional 78 shares in the last quarter. Meeder Advisory Services Inc. raised its holdings in shares of General Dynamics by 4.7% during the first quarter. Meeder Advisory Services Inc. now owns 3,571 shares of the aerospace company's stock worth $1,009,000 after acquiring an additional 161 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of General Dynamics by 1.3% during the first quarter. QRG Capital Management Inc. now owns 18,599 shares of the aerospace company's stock worth $5,254,000 after acquiring an additional 232 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of General Dynamics by 0.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,841 shares of the aerospace company's stock worth $14,080,000 after acquiring an additional 239 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

General Dynamics Company Profile

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 produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.