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

General Dynamics (NYSE:GD) had its target price decreased by equities research analysts at Wells Fargo & Company from $276.00 to $244.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s target price points to a potential downside of 1.77% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Wolfe Research downgraded General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft lowered their target price 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. Barclays cut their target price on General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. dropped their price target on General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Finally, TD Cowen reduced their price objective on General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, General Dynamics presently has a consensus rating of “Hold” and an average target price of $296.71.

General Dynamics Stock Down 0.6 %

Shares of NYSE:GD opened at $248.41 on Wednesday. General Dynamics has a 1 year low of $239.87 and a 1 year high of $316.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The business’s 50-day moving average is $258.97 and its 200-day moving average is $281.88. The company has a market capitalization of $67.16 billion, a price-to-earnings ratio of 18.31, a P/E/G ratio of 1.69 and a beta of 0.61.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.10%. Equities research analysts predict that General Dynamics will post 14.83 earnings per share for the current year.

General Dynamics announced that its board has authorized a stock repurchase program on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the sale, the director now directly owns 11,175 shares in the company, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of General Dynamics by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company’s stock worth $6,265,813,000 after acquiring an additional 706,317 shares during the period. Wellington Management Group LLP increased its holdings in shares of General Dynamics by 0.8% in the 3rd quarter. Wellington Management Group LLP now owns 14,205,330 shares of the aerospace company’s stock worth $4,292,851,000 after buying an additional 109,618 shares during the last quarter. State Street Corp lifted its holdings in shares of General Dynamics by 9.4% in the 3rd quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock valued at $3,307,612,000 after acquiring an additional 943,247 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in General Dynamics by 2.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock worth $2,366,124,000 after acquiring an additional 189,904 shares during the last quarter. Finally, Capital Research Global Investors raised its position in General Dynamics by 7.4% during the fourth quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company’s stock valued at $1,774,381,000 after purchasing an additional 463,497 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.