Barclays Issues Pessimistic Forecast for General Dynamics (NYSE:GD) Stock Price

General Dynamics (NYSE:GD) had its price objective reduced by equities research analysts at Barclays from $305.00 to $285.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the aerospace company’s stock. Barclays‘s price objective indicates a potential upside of 10.98% from the company’s previous close.

GD has been the subject of several other reports. Baird R W lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Citigroup lifted their price target on shares of General Dynamics from $354.00 to $360.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Susquehanna decreased their price objective on shares of General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a research note on Thursday, January 30th. Jefferies Financial Group reiterated a “hold” rating and issued a $300.00 target price (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. Finally, Robert W. Baird restated a “neutral” rating and set a $283.00 price target (down from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $300.06.

General Dynamics Trading Down 0.1 %

Shares of General Dynamics stock opened at $256.80 on Tuesday. The company’s fifty day moving average price is $267.05 and its two-hundred day moving average price is $286.76. The firm has a market capitalization of $70.61 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 1.46 and a beta of 0.61. General Dynamics has a 52-week low of $247.01 and a 52-week 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.

General Dynamics (NYSE:GD) last announced its quarterly 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 return on equity of 17.10% and a net margin of 7.93%. On average, analysts expect that General Dynamics will post 14.88 EPS for the current year.

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

Insider Activity

In related news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the sale, the vice president now owns 20,296 shares in the company, valued at $5,701,349.36. This represents a 21.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On General Dynamics

Several institutional investors have recently modified their holdings of GD. Czech National Bank raised its holdings in shares of General Dynamics by 21.3% during the third quarter. Czech National Bank now owns 52,532 shares of the aerospace company’s stock worth $15,875,000 after acquiring an additional 9,208 shares during the period. GAMMA Investing LLC raised its stake in shares of General Dynamics by 17.2% in the 3rd quarter. GAMMA Investing LLC now owns 3,834 shares of the aerospace company’s stock valued at $1,159,000 after purchasing an additional 563 shares during the period. WealthBridge Capital Management LLC acquired a new stake in shares of General Dynamics in the 3rd quarter valued at about $250,000. Diversified Trust Co boosted its position in shares of General Dynamics by 7.1% during the third quarter. Diversified Trust Co now owns 2,163 shares of the aerospace company’s stock worth $654,000 after buying an additional 143 shares during the period. Finally, Miracle Mile Advisors LLC grew its holdings in shares of General Dynamics by 26.6% during the third quarter. Miracle Mile Advisors LLC now owns 2,486 shares of the aerospace company’s stock worth $751,000 after buying an additional 523 shares in 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.