General Dynamics (NYSE:GD) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

General Dynamics (NYSE:GD) had its target price upped by Wells Fargo & Company from $244.00 to $261.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price target would suggest a potential downside of 2.22% from the company’s current price.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reduced their price objective on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Wolfe Research lowered General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. The Goldman Sachs Group lowered their target price on General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a research note on Tuesday, January 28th. Baird R W downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, TD Cowen reduced their price objective on shares of General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, General Dynamics has an average rating of “Hold” and a consensus price target of $297.71.

General Dynamics Stock Up 0.9 %

GD traded up $2.37 during midday trading on Friday, hitting $266.92. The company had a trading volume of 149,021 shares, compared to its average volume of 1,752,558. The company has a market capitalization of $72.16 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 1.69 and a beta of 0.59. The stock’s 50 day moving average price is $257.69 and its 200 day moving average price is $280.16. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. General Dynamics has a 52 week low of $239.87 and a 52 week high of $316.90.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts anticipate that General Dynamics will post 14.83 earnings per share for the current fiscal year.

General Dynamics declared that its board has initiated a stock buyback plan on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $255.68, for a total transaction of $459,201.28. Following the transaction, the director now owns 11,175 shares in the company, valued at $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in General Dynamics by 17.5% in the third quarter. Principal Financial Group Inc. now owns 297,577 shares of the aerospace company’s stock worth $89,928,000 after purchasing an additional 44,387 shares in the last quarter. Hara Capital LLC bought a new position in General Dynamics during the 3rd quarter valued at approximately $26,000. Western Pacific Wealth Management LP bought a new stake in General Dynamics in the third quarter worth $76,000. Consolidated Planning Corp grew its position in General Dynamics by 1.3% during the 3rd quarter. Consolidated Planning Corp now owns 20,606 shares of the aerospace company’s stock valued at $6,227,000 after purchasing an additional 267 shares during the last quarter. Finally, Portside Wealth Group LLC raised its holdings in General Dynamics by 7.6% in the 3rd quarter. Portside Wealth Group LLC now owns 5,908 shares of the aerospace company’s stock worth $1,785,000 after acquiring an additional 419 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

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.