Wells Fargo & Company Issues Pessimistic Forecast for General Dynamics (NYSE:GD) Stock Price

General Dynamics (NYSE:GD) had its target price cut by Wells Fargo & Company from $276.00 to $244.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 2.99% from the company’s previous close.

GD has been the topic of a number of other research reports. William Blair cut General Dynamics from an “outperform” rating to a “market perform” rating in a report on Friday, February 21st. Royal Bank of Canada decreased their price objective on General Dynamics from $290.00 to $280.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 30th. Baird R W downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Barclays decreased their price target on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Finally, Vertical Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating and cut their price objective for the company from $352.00 to $290.00 in a research report on Monday, January 6th. One equities 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 issued a strong buy rating to the company. Based on data from MarketBeat, General Dynamics currently has an average rating of “Hold” and an average target price of $296.71.

General Dynamics Trading Up 0.9 %

NYSE:GD opened at $251.53 on Wednesday. General Dynamics has a 52-week low of $239.87 and a 52-week high of $316.90. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $258.53 and a 200-day simple moving average of $281.44. The company has a market capitalization of $68.00 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.69 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its 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 17.10% and a net margin of 7.93%. On average, equities research analysts expect that General Dynamics will post 14.83 earnings per share for the current fiscal year.

General Dynamics announced that its Board of Directors has initiated a share buyback program on Wednesday, December 4th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the aerospace company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction 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 approximately $2,857,224. This represents a 13.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Financial Life Planners acquired a new stake in shares of General Dynamics in the fourth quarter valued at about $25,000. Hara Capital LLC purchased a new position in General Dynamics in the 3rd quarter worth approximately $26,000. Whipplewood Advisors LLC acquired a new stake in General Dynamics in the fourth quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of General Dynamics during the fourth quarter valued at approximately $26,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of General Dynamics during the fourth quarter worth $28,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

About General Dynamics

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.