Wells Fargo & Company Lowers General Dynamics (NYSE:GD) Price Target to $244.00

General Dynamics (NYSE:GD) had its price objective cut by stock analysts at Wells Fargo & Company from $276.00 to $244.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 1.77% from the company’s previous close.

A number of other equities research analysts also recently issued reports on GD. William Blair downgraded shares of General Dynamics from an “outperform” rating to a “market perform” rating in a research note on Friday, February 21st. TD Cowen decreased their price target on General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. Barclays reduced their target price on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Finally, Vertical Research cut shares of General Dynamics from a “buy” rating to a “hold” rating and lowered their target price for the company from $352.00 to $290.00 in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $296.71.

General Dynamics Trading Down 0.6 %

NYSE:GD opened at $248.41 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The firm has a 50-day simple moving average of $258.97 and a 200-day simple moving average of $281.88. General Dynamics has a one year low of $239.87 and a one year high of $316.90. The firm has a market cap of $67.16 billion, a P/E ratio of 18.31, a P/E/G ratio of 1.69 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. Equities analysts anticipate that General Dynamics will post 14.83 EPS for the current fiscal year.

General Dynamics declared that its Board of Directors has approved a share buyback program on Wednesday, December 4th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the sale, the director now directly owns 11,175 shares of the company’s stock, valued at $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On General Dynamics

Several large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC increased its holdings in shares of General Dynamics by 15.3% during the fourth quarter. Empowered Funds LLC now owns 9,689 shares of the aerospace company’s stock valued at $2,553,000 after purchasing an additional 1,283 shares during the period. Fifth Third Wealth Advisors LLC grew its position in General Dynamics by 67.6% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock valued at $2,583,000 after buying an additional 3,448 shares in the last quarter. Olstein Capital Management L.P. increased its stake in General Dynamics by 36.4% during the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after buying an additional 4,000 shares during the period. Kentucky Trust Co bought a new stake in shares of General Dynamics during the 4th quarter worth about $607,000. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of General Dynamics by 10.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock worth $11,204,000 after acquiring an additional 3,363 shares during the period. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Company Profile

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.