General Dynamics (NYSE:GD) Sets New 52-Week High – Should You Buy?

General Dynamics Co. (NYSE:GD) shares reached a new 52-week high during mid-day trading 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.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wells Fargo & Company upped their price target on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Barclays lifted their target price on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $323.69.

General Dynamics Stock Performance

The stock has a 50-day moving average of $301.91 and a 200 day moving average of $295.91. The firm has a market capitalization of $85.82 billion, a P/E ratio of 23.77, a price-to-earnings-growth ratio of 1.90 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The business had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.04 earnings per share. On average, research analysts anticipate that General Dynamics Co. will post 13.97 earnings per share for the current year.

Insider Buying and Selling at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On General Dynamics

A number of hedge funds and other institutional investors have recently made changes to their positions in GD. Daiwa Securities Group Inc. lifted its stake in General Dynamics by 17.3% in the third quarter. Daiwa Securities Group Inc. now owns 29,557 shares of the aerospace company’s stock valued at $8,932,000 after buying an additional 4,353 shares in the last quarter. Hartford Funds Management Co LLC boosted its position in shares of General Dynamics by 23.7% during the third quarter. Hartford Funds Management Co LLC now owns 2,016 shares of the aerospace company’s stock worth $609,000 after buying an additional 386 shares during the period. Summit Trail Advisors LLC grew its holdings in shares of General Dynamics by 118.4% during the third quarter. Summit Trail Advisors LLC now owns 2,824 shares of the aerospace company’s stock worth $853,000 after buying an additional 1,531 shares in the last quarter. SevenBridge Financial Group LLC raised its position in General Dynamics by 4.4% in the 3rd quarter. SevenBridge Financial Group LLC now owns 9,563 shares of the aerospace company’s stock valued at $3,002,000 after buying an additional 405 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. lifted its stake in General Dynamics by 9.7% in the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 6,210 shares of the aerospace company’s stock valued at $1,877,000 after acquiring an additional 550 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

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.