The stock of General Dynamics Corporation (NYSE:GD) hit a new 52-week high and has $185.66 target or 7.00% above today’s $173.51 share price. The 6 months bullish chart indicates low risk for the $53.31 billion company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $185.66 price target is reached, the company will be worth $3.73 billion 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 834,669 shares traded hands. General Dynamics Corporation (NYSE:GD) has risen 25.80% since April 25, 2016 and is uptrending. It has outperformed by 19.78% the S&P500.
Analysts await General Dynamics Corporation (NYSE:GD) to report earnings on January, 25. They expect $2.55 earnings per share, up 6.25% or $0.15 from last year’s $2.4 per share. GD’s profit will be $783.47M for 17.01 P/E if the $2.55 EPS becomes a reality. After $2.48 actual earnings per share 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 earned “Outperform” rating on Wednesday, August 10 by Bernstein. On Thursday, October 6 the stock rating was initiated by Robert W. Baird with “Outperform”. Barclays Capital upgraded it to “Overweight” rating and $157 target price in Monday, November 30 report. The stock of General Dynamics Corporation (NYSE:GD) earned “Outperform” rating by RBC Capital Markets on Thursday, October 29. Drexel Hamilton upgraded the stock to “Buy” rating in Monday, December 21 report. As per Tuesday, August 2, the company rating was maintained by Argus Research. Citigroup maintained it with “Buy” rating and $185 target price in Wednesday, September 7 report. The rating was downgraded by Zacks to “Buy” on Tuesday, August 25. The firm has “Hold” rating by Zacks given on Monday, August 31. The firm has “Market Perform” rating by Bernstein given on Wednesday, February 24.
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 Q2 2016. Its down 0.11, from 1.02 in 2016Q1. The ratio dropped, 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.
Girard Ptnrs Limited accumulated 3,157 shares or 0.17% of the stock. Moreover, Arrowgrass Capital (Us) L P has 0% invested in General Dynamics Corporation (NYSE:GD) for 1,248 shares. Point72 Asset Mgmt Lp accumulated 7,400 shares or 0.01% of the stock. Sprucegrove Invest Limited last reported 66,455 shares in the company. Regions Fincl holds 0.03% or 15,701 shares in its portfolio. Springbok Limited Liability Co holds 0.02% of its portfolio in General Dynamics Corporation (NYSE:GD) for 1,057 shares. Davenport & Ltd Llc accumulated 0% or 258,805 shares. Palladium Prtnrs Limited Co accumulated 22,189 shares or 0.28% of the stock. Alpha Windward Ltd Limited Liability Company has 0.19% invested in the company for 1,930 shares. Lodge Hill Limited Liability Corporation has 269,700 shares for 3.64% of their US portfolio. Beacon Gp holds 6,794 shares or 0.2% of its portfolio. Decatur Capital owns 16,786 shares or 0.32% of their US portfolio. Great West Life Assurance Can holds 329,461 shares or 0.16% of its portfolio. Bbva Compass Fincl Bank holds 14,008 shares or 0.15% of its portfolio. Amp Capital Limited holds 163,729 shares or 0.15% of its portfolio.
Insider Transactions: Since July 29, 2016, the stock had 0 buys, and 8 selling transactions for $63.77 million net activity. $4.98 million worth of General Dynamics Corporation (NYSE:GD) shares were sold by Johnson S. Daniel. Shares for $8.45 million were sold by CASEY JOHN PATRICK. Whited Gary L sold $1.72M worth of stock. $636,307 worth of General Dynamics Corporation (NYSE:GD) was sold by Kuryea Kimberly A on Tuesday, September 6. Another trade for 39,000 shares valued at $5.72 million was sold by Gallopoulos Gregory S. Shares for $22.85M were sold by HELM ROBERT W on Wednesday, September 7. Roualet Mark C. had sold 40,780 shares worth $6.17 million on Thursday, August 11.
More news for General Dynamics Corporation (NYSE:GD) were recently published by: Prnewswire.com, which released: “General Dynamics Announces Bath Iron Works, NASSCO Leadership Appointments …” on November 21, 2016. Etfdailynews.com‘s article titled: “General Dynamics Is A Top Pick During Trump’s Presidency” and published on November 21, 2016 is yet another important article.
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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