General Dynamics (NYSE:GD) Given New $276.00 Price Target at Wells Fargo & Company

General Dynamics (NYSE:GD) had its price objective lowered by stock analysts at Wells Fargo & Company from $279.00 to $276.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 9.73% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Citigroup lifted their target price on shares of General Dynamics from $354.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Baird R W lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Royal Bank of Canada lowered General Dynamics from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $330.00 to $290.00 in a research report on Thursday, December 19th. Vertical Research lowered General Dynamics from a “buy” rating to a “hold” rating and reduced their price target for the stock from $352.00 to $290.00 in a research report on Monday, January 6th. Finally, Wolfe Research cut shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $303.53.

General Dynamics Stock Down 4.2 %

Shares of NYSE GD opened at $251.52 on Thursday. General Dynamics has a 1 year low of $247.01 and a 1 year high of $316.90. The firm’s 50 day moving average price is $268.57 and its 200 day moving average price is $287.48. The firm has a market cap of $69.16 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 1.43 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. As a group, sell-side analysts anticipate that General Dynamics will post 13.66 earnings per share for the current year.

General Dynamics announced that its Board of Directors has authorized a stock buyback plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.52% of the company’s stock.

Institutional Trading of General Dynamics

A number of hedge funds have recently made changes to their positions in GD. MFA Wealth Advisors LLC increased its position in General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after buying an additional 58 shares during the last quarter. Financial Life Planners bought a new stake in shares of General Dynamics during the 4th quarter worth about $25,000. Hara Capital LLC acquired a new position in shares of General Dynamics during the 3rd quarter valued at about $26,000. Sugar Maple Asset Management LLC acquired a new position in shares of General Dynamics during the 4th quarter valued at about $28,000. Finally, Heck Capital Advisors LLC bought a new position in shares of General Dynamics in the 4th quarter valued at approximately $28,000. 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.