General Dynamics (NYSE:GD) Given New $334.00 Price Target at Wells Fargo & Company

General Dynamics (NYSE:GD) had its price objective raised by research analysts at Wells Fargo & Company from $330.00 to $334.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 14.27% from the company’s previous close.

A number of other brokerages have also recently commented on GD. Robert W. Baird reissued an “outperform” rating and issued a $345.00 price objective on shares of General Dynamics in a research note on Tuesday, July 2nd. Argus boosted their target price on shares of General Dynamics from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. The Goldman Sachs Group raised their price target on shares of General Dynamics from $253.00 to $284.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Sanford C. Bernstein increased their price objective on General Dynamics from $290.00 to $302.00 and gave the stock a “market perform” rating in a research note on Thursday, May 23rd. Finally, BTIG Research started coverage on General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $311.33.

General Dynamics Trading Up 2.7 %

GD traded up $7.63 during trading on Thursday, hitting $292.30. The company’s stock had a trading volume of 1,032,013 shares, compared to its average volume of 1,067,259. The stock’s fifty day moving average price is $292.91 and its 200-day moving average price is $281.84. The firm has a market capitalization of $80.20 billion, a P/E ratio of 23.90, a PEG ratio of 1.68 and a beta of 0.60. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. General Dynamics has a twelve month low of $214.53 and a twelve month high of $302.75.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). The company had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a net margin of 7.85% and a return on equity of 16.48%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period last year, the firm posted $2.70 earnings per share. Analysts anticipate that General Dynamics will post 14.54 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the transaction, the chief financial officer now owns 79,255 shares of the company’s stock, valued at approximately $23,630,670.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other General Dynamics news, VP Mark Lagrand Burns sold 12,089 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $296.59, for a total value of $3,585,476.51. Following the sale, the vice president now directly owns 64,132 shares in the company, valued at approximately $19,020,909.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kimberly A. Kuryea sold 13,344 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $298.16, for a total transaction of $3,978,647.04. Following the completion of the transaction, the chief financial officer now directly owns 79,255 shares in the company, valued at approximately $23,630,670.80. The disclosure for this sale can be found here. Insiders sold 118,486 shares of company stock valued at $34,391,642 over the last ninety days. 1.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Dynamics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MeadowBrook Investment Advisors LLC purchased a new position in shares of General Dynamics during the fourth quarter worth about $25,000. Richardson Financial Services Inc. bought a new position in shares of General Dynamics in the 4th quarter worth $25,000. Redmont Wealth Advisors LLC purchased a new stake in shares of General Dynamics during the 1st quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of General Dynamics during the 1st quarter valued at $29,000. Finally, New Covenant Trust Company N.A. purchased a new position in General Dynamics in the first quarter worth $29,000. 86.14% of the stock is currently 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.