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

General Dynamics (NYSE:GD) had its price objective decreased by stock analysts at Wells Fargo & Company from $279.00 to $276.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 7.32% from the stock’s previous close.

A number of other analysts have also recently issued reports on GD. Deutsche Bank Aktiengesellschaft reduced their price objective on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Jefferies Financial Group reissued a “hold” rating and issued a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. Wolfe Research lowered shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Vertical Research downgraded shares of General Dynamics from a “buy” rating to a “hold” rating and decreased their target price for the stock from $352.00 to $290.00 in a research report on Monday, January 6th. Finally, The Goldman Sachs Group cut their price target on shares of General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $301.24.

General Dynamics Trading Up 0.1 %

Shares of NYSE GD opened at $257.17 on Thursday. The firm has a market capitalization of $70.71 billion, a PE ratio of 18.85, a PEG ratio of 1.34 and a beta of 0.61. General Dynamics has a one year low of $247.01 and a one year high of $316.90. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average price of $267.54 and a two-hundred day moving average price of $287.02.

General Dynamics (NYSE:GD) last announced 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 17.08%. As a group, analysts predict that General Dynamics will post 15.92 earnings per share for the current fiscal year.

General Dynamics declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 4th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the aerospace company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the transaction, the vice president now directly owns 20,296 shares in the company, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Coston McIsaac & Partners increased its stake in shares of General Dynamics by 22.8% in the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after buying an additional 33 shares during the period. Global X Japan Co. Ltd. raised its holdings in General Dynamics by 2.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock worth $448,000 after purchasing an additional 33 shares during the last quarter. Grove Bank & Trust lifted its position in General Dynamics by 10.6% during the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock valued at $107,000 after purchasing an additional 34 shares during the period. Trueblood Wealth Management LLC grew its position in shares of General Dynamics by 1.6% during the 3rd quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock worth $672,000 after buying an additional 34 shares during the period. Finally, Jeppson Wealth Management LLC raised its stake in shares of General Dynamics by 3.8% during the third quarter. Jeppson Wealth Management LLC now owns 955 shares of the aerospace company’s stock worth $289,000 after buying an additional 35 shares during the last quarter. 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.