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

General Dynamics (NYSE:GD) had its price objective decreased by Wells Fargo & Company from $276.00 to $244.00 in a research report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the aerospace company’s stock.

Other analysts have also issued research reports about the company. The Goldman Sachs Group reduced their target price on General Dynamics from $245.00 to $241.00 and set a “sell” rating for the company in a report on Tuesday, January 28th. Royal Bank of Canada reduced their price objective on General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a research note on Thursday, January 30th. JPMorgan Chase & Co. lowered their target price on General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Vertical Research downgraded General Dynamics from a “buy” rating to a “hold” rating and dropped their target price for the company from $352.00 to $290.00 in a report on Monday, January 6th. Finally, Barclays decreased their price target on shares of General Dynamics from $305.00 to $285.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, thirteen have issued 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.com, the stock has an average rating of “Hold” and an average price target of $296.71.

General Dynamics Trading Down 0.4 %

Shares of NYSE GD opened at $248.92 on Wednesday. The business has a fifty day simple moving average of $258.71 and a 200-day simple moving average of $281.65. The company has a market cap of $67.30 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 1.69 and a beta of 0.61. General Dynamics has a 12 month low of $239.87 and a 12 month 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.

General Dynamics (NYSE:GD) last posted its quarterly earnings data 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%. Sell-side analysts predict that General Dynamics will post 14.83 EPS for the current year.

General Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Friday, January 17th were issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Friday, January 17th. General Dynamics’s dividend payout ratio is 41.64%.

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

Insiders Place Their Bets

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the business’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 transaction, the director now owns 11,175 shares of the company’s stock, valued at $2,857,224. The trade was a 13.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On General Dynamics

Large investors have recently made changes to their positions in the business. Financial Life Planners bought a new position in General Dynamics in the 4th quarter worth approximately $25,000. Hara Capital LLC acquired a new stake in shares of General Dynamics in the third quarter worth $26,000. Whipplewood Advisors LLC bought a new position in General Dynamics during the fourth quarter worth $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in General Dynamics during the 4th quarter valued at $26,000. Finally, Sugar Maple Asset Management LLC bought a new stake in General Dynamics in the 4th quarter valued at $28,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

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.