Drexel Hamilton analyst Brian Ruttenbur maintained a Buy rating on General Dynamics Corp (NYSE: GD) today and set a price target of $230. The company’s shares opened today at $192.63.
Ruttenbur noted:
“We project the aerospace division will generate mid-single digit growth and stable margins the next few years.”
According to TipRanks.com, Ruttenbur is a 4-star analyst with an average return of 10.3% and a 75.6% success rate. Ruttenbur covers the Consumer Goods sector, focusing on stocks such as Mercury Systems Inc, Huntington Ingalls, and Engility Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for General Dynamics Corp with a $239.73 average price target, a 24.5% upside from current levels. In a report released yesterday, Argus Research also maintained a Buy rating on the stock with a $250 price target.
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Based on General Dynamics Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $9.19 billion and net profit of $786 million. In comparison, last year the company earned revenue of $7.68 billion and had a net profit of $749 million.
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General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It is organized into four business groups: Aerospace, Combat Systems, Information Systems and Technology, and Marine Systems.
