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

General Dynamics (NYSE:GD) had its price objective raised by analysts at Wells Fargo & Company from $244.00 to $261.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 3.98% from the company’s current price.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lowered their price objective on General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. The Goldman Sachs Group decreased their price target on General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a research report on Tuesday, January 28th. Wolfe Research cut General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Citigroup decreased their price target on General Dynamics from $360.00 to $335.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Finally, Robert W. Baird restated a “neutral” rating and issued a $283.00 price target (down previously from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $297.71.

General Dynamics Stock Up 2.7 %

GD stock opened at $271.82 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The stock has a market capitalization of $73.49 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 1.69 and a beta of 0.59. The business’s fifty day moving average price is $257.80 and its two-hundred day moving average price is $279.88. General Dynamics has a fifty-two week low of $239.87 and a fifty-two week high of $316.90.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share 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, equities analysts anticipate that General Dynamics will post 14.83 earnings per share for the current year.

General Dynamics announced that its Board of Directors has approved a share buyback plan on Wednesday, December 4th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the sale, the director now directly owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Trading of General Dynamics

Hedge funds have recently made changes to their positions in the company. Copia Wealth Management acquired a new position in shares of General Dynamics in the fourth quarter worth approximately $27,000. Wood Tarver Financial Group LLC acquired a new position in shares of General Dynamics in the fourth quarter worth approximately $78,000. Copley Financial Group Inc. lifted its stake in shares of General Dynamics by 10,664.7% in the fourth quarter. Copley Financial Group Inc. now owns 1,830 shares of the aerospace company’s stock worth $482,000 after acquiring an additional 1,813 shares during the period. Cim LLC lifted its stake in shares of General Dynamics by 0.7% in the fourth quarter. Cim LLC now owns 6,952 shares of the aerospace company’s stock worth $1,832,000 after acquiring an additional 45 shares during the period. Finally, BridgePort Financial Solutions LLC acquired a new position in shares of General Dynamics in the fourth quarter worth approximately $206,000. 86.14% of the stock is owned by institutional investors and hedge funds.

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.