The stock of General Dynamics Corporation (NYSE:GD) hit a new 52-week high and has $180.86 target or 6.00% above today’s $170.62 share price. The 7 months bullish chart indicates low risk for the $52.50 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $180.86 price target is reached, the company will be worth $3.15B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 797,688 shares traded hands. General Dynamics Corporation (NYSE:GD) has risen 23.57% since April 21, 2016 and is uptrending. It has outperformed by 18.24% the S&P500.
Analysts await General Dynamics Corporation (NYSE:GD) to report earnings on January, 25. They expect $2.55 EPS, up 6.25% or $0.15 from last year’s $2.4 per share. GD’s profit will be $784.64 million for 16.73 P/E if the $2.55 EPS becomes a reality. After $2.48 actual EPS reported by General Dynamics Corporation for the previous quarter, Wall Street now forecasts 2.82% EPS growth.
General Dynamics Corporation (NYSE:GD) Ratings Coverage
Out of 12 analysts covering General Dynamics Corporation (NYSE:GD), 9 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 75% are positive. General Dynamics Corporation has been the topic of 25 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Argus Research given on Tuesday, August 2. The firm has “Outperform” rating given on Thursday, July 30 by RBC Capital Markets. The company was downgraded on Friday, July 31 by Drexel Hamilton. On Wednesday, December 16 the stock rating was downgraded by JP Morgan to “Neutral”. Barclays Capital maintained General Dynamics Corporation (NYSE:GD) on Monday, May 2 with “Overweight” rating. The rating was maintained by Bernstein on Wednesday, February 24 with “Market Perform”. The firm earned “Buy” rating on Wednesday, September 7 by Citigroup. The rating was upgraded by Zacks on Monday, August 31 to “Hold”. The company was initiated on Thursday, October 6 by Robert W. Baird. Argus Research upgraded the shares of GD in a report on Thursday, November 19 to “Buy” rating.
According to Zacks Investment Research, “General Dynamics Corp.’s primary businesses focus is on shipbuilding and marine systems, business aviation, information systems, and land and amphibious combat systems. Each of these businesses involves design, manufacturing and program management expertise, advanced technology, and integration of complex systems. The primary customers for the company’s businesses are the United States military, the armed forces of allied nations, other government organizations and a diverse base of corporate and industrial buyers.”
Insitutional Activity: The institutional sentiment decreased to 0.91 in 2016 Q2. Its down 0.11, from 1.02 in 2016Q1. The ratio turned negative, as 45 funds sold all General Dynamics Corporation shares owned while 305 reduced positions. 91 funds bought stakes while 267 increased positions. They now own 265.50 million shares or 2.74% less from 272.98 million shares in 2016Q1.
Duncker Streett Company accumulated 420 shares or 0.02% of the stock. Atlantic Trust Limited Co accumulated 19,360 shares or 0.02% of the stock. Legacy Private Trust Co holds 25,586 shares or 0.52% of its portfolio. Tide Point Lp has invested 1.58% of its portfolio in General Dynamics Corporation (NYSE:GD). Commonwealth Equity Services holds 0.09% or 73,924 shares in its portfolio. New England Professional Planning Group accumulated 1% or 6,162 shares. Earnest Prns Limited Liability Company holds 0.41% of its portfolio in General Dynamics Corporation (NYSE:GD) for 271,654 shares. The North Carolina-based First Citizens Comml Bank has invested 0.65% in General Dynamics Corporation (NYSE:GD). Henderson Grp Public Limited Company has 32,008 shares for 0.04% of their US portfolio. Janney Montgomery Scott Limited Liability Corp holds 0.1% or 45,510 shares in its portfolio. Princeton Alpha Mngmt Lp accumulated 0.27% or 10,803 shares. Atria Investments Lc holds 10,655 shares or 0.16% of its portfolio. Pacad Investment Ltd has invested 0.04% of its portfolio in General Dynamics Corporation (NYSE:GD). Cibc World Markets Incorporated, a Ontario – Canada-based fund reported 8,532 shares. Korea Investment Corporation last reported 120,606 shares in the company.
Insider Transactions: Since July 29, 2016, the stock had 0 insider purchases, and 8 insider sales for $63.77 million net activity. Shares for $5.72M were sold by Gallopoulos Gregory S on Friday, July 29. HELM ROBERT W sold $13.25M worth of stock. Kuryea Kimberly A sold 4,117 shares worth $636,307. Roualet Mark C. also sold $6.17M worth of General Dynamics Corporation (NYSE:GD) on Thursday, August 11. 10,259 shares with value of $1.72M were sold by Whited Gary L on Thursday, November 10. $4.98 million worth of General Dynamics Corporation (NYSE:GD) shares were sold by Johnson S. Daniel. 57,490 shares with value of $8.45M were sold by CASEY JOHN PATRICK on Thursday, August 4.
GD Company Profile
General Dynamics Corporation, incorporated on February 21, 1952, is an aerospace and defense firm that offers a portfolio of services and products in business aviation; combat vehicles, weapons systems and munitions; command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions and information technology (IT) services, and shipbuilding. The Firm operates through four business groups: Aerospace, which produces Gulfstream aircraft; provides aircraft services, and performs aircraft completions for other original equipment manufacturers (OEMs); Combat Systems, which design and manufacture combat vehicles, weapons systems and munitions; Information Systems and Technology, which provides C4ISR solutions and IT services, and Marine Systems, which design, construct and repair surface ships and submarines.
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