General Dynamics (NYSE:GD) Lowered to Equal Weight at Wells Fargo & Company

General Dynamics (NYSE:GD) was downgraded by Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. They presently have a $317.00 target price on the aerospace company’s stock, down from their previous target price of $334.00. Wells Fargo & Company‘s target price would indicate a potential upside of 4.30% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $293.00 to $345.00 in a research report on Friday, August 9th. BTIG Research started coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price target on the stock. Barclays lifted their price objective on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Robert W. Baird reaffirmed an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a research report on Tuesday, July 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price target on shares of General Dynamics in a report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $317.41.

General Dynamics Trading Down 0.5 %

NYSE GD opened at $303.92 on Tuesday. The firm’s 50 day moving average price is $296.90 and its two-hundred day moving average price is $292.72. The stock has a market cap of $83.38 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.68 and a beta of 0.61. General Dynamics has a twelve month low of $214.53 and a twelve month high of $309.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33.

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). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.46 billion. During the same period in the previous year, the firm posted $2.70 earnings per share. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. Equities analysts anticipate that General Dynamics will post 14.52 EPS for the current year.

Insider Buying and Selling at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On General Dynamics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Modera Wealth Management LLC increased its stake in General Dynamics by 0.4% during the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after acquiring an additional 35 shares during the period. Rathbones Group PLC raised its stake in shares of General Dynamics by 1.8% in the second quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock valued at $587,000 after purchasing an additional 35 shares in the last quarter. Legend Financial Advisors Inc. lifted its position in General Dynamics by 46.8% in the first quarter. Legend Financial Advisors Inc. now owns 113 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 36 shares during the period. Diversified Trust Co increased its holdings in General Dynamics by 2.5% in the 1st quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock valued at $425,000 after buying an additional 36 shares during the period. Finally, Fulton Bank N.A. raised its stake in shares of General Dynamics by 1.1% in the 1st quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock valued at $932,000 after buying an additional 37 shares in the last quarter. Institutional investors 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.