General Dynamics (NYSE:GD) Hits New 52-Week High at $302.95

Shares of General Dynamics Co. (NYSE:GD - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $302.95 and last traded at $301.58, with a volume of 476597 shares. The stock had previously closed at $292.78.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of General Dynamics in a report on Monday, July 29th. Sanford C. Bernstein upped their price target on shares of General Dynamics from $290.00 to $302.00 and gave the company a "market perform" rating in a research note on Thursday, May 23rd. Royal Bank of Canada restated an "outperform" rating and set a $320.00 target price on shares of General Dynamics in a research report on Thursday, July 25th. Wells Fargo & Company increased their target price on shares of General Dynamics from $330.00 to $334.00 and gave the stock an "overweight" rating in a research note on Thursday, July 25th. Finally, Robert W. Baird reiterated an "outperform" rating and set a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $315.06.

General Dynamics Stock Up 3.0 %

The company has a market capitalization of $82.86 billion, a P/E ratio of 24.60, a P/E/G ratio of 1.60 and a beta of 0.61. The firm has a fifty day simple moving average of $291.07 and a 200-day simple moving average of $289.30. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. During the same period in the previous year, the firm posted $2.70 EPS. The firm's revenue was up 18.0% compared to the same quarter last year. On average, equities research analysts expect that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $5.68 annualized dividend and a yield of 1.88%. General Dynamics's dividend payout ratio is currently 46.33%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Eudaimonia Partners LLC bought a new stake in General Dynamics during the 4th quarter worth approximately $240,000. Principal Securities Inc. purchased a new position in General Dynamics in the fourth quarter valued at about $1,056,000. Gladstone Capital Management LLP acquired a new stake in shares of General Dynamics in the 4th quarter worth $3,869,000. SWP Financial LLC purchased a new position in shares of General Dynamics in the 4th quarter valued at approximately $227,000. Finally, Sanibel Captiva Trust Company Inc. purchased a new stake in General Dynamics during the 4th quarter valued at about $28,107,000. Institutional investors own 86.14% of the company's stock.

About General Dynamics

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.