General Dynamics (NYSE:GD) Price Target Lowered to $295.00 at Deutsche Bank Aktiengesellschaft

General Dynamics (NYSE:GD) had its target price decreased by analysts at Deutsche Bank Aktiengesellschaft from $303.00 to $295.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the aerospace company’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 12.01% from the stock’s current price.

Several other brokerages have also weighed in on GD. Wells Fargo & Company lowered their price objective on General Dynamics from $322.00 to $295.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. Jefferies Financial Group reissued a “hold” rating and set a $300.00 price target (down from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Sanford C. Bernstein lowered their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. The Goldman Sachs Group lowered shares of General Dynamics from a “neutral” rating to a “sell” rating and decreased their price target for the company from $283.00 to $245.00 in a report on Thursday, December 12th. Finally, TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.19.

General Dynamics Stock Performance

Shares of GD opened at $263.37 on Thursday. The firm has a market cap of $72.42 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 1.63 and a beta of 0.59. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $281.16 and its two-hundred day moving average is $290.63. General Dynamics has a 52-week low of $247.36 and a 52-week high of $316.90.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company 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 company’s revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.04 earnings per share. Analysts forecast that General Dynamics will post 13.87 EPS for the current fiscal year.

General Dynamics announced that its Board of Directors has approved a stock repurchase program on Wednesday, December 4th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the sale, the vice president now directly owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.52% of the stock is owned by corporate insiders.

Institutional Trading of General Dynamics

A number of hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its position in General Dynamics by 0.8% during the third quarter. Wellington Management Group LLP now owns 14,205,330 shares of the aerospace company’s stock valued at $4,292,851,000 after buying an additional 109,618 shares during the period. State Street Corp grew its position in General Dynamics by 9.4% during the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock valued at $3,307,612,000 after purchasing an additional 943,247 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in General Dynamics by 2.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock worth $2,366,124,000 after buying an additional 189,904 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of General Dynamics by 13.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock valued at $1,674,998,000 after buying an additional 638,342 shares during the period. Finally, FMR LLC grew its holdings in shares of General Dynamics by 0.5% during the 3rd quarter. FMR LLC now owns 4,940,537 shares of the aerospace company’s stock valued at $1,493,030,000 after acquiring an additional 24,464 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other 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.