Wells Fargo & Company Has Lowered Expectations for General Dynamics (NYSE:GD) Stock Price

General Dynamics (NYSE:GD) had its price target decreased by investment analysts at Wells Fargo & Company from $279.00 to $276.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 9.73% from the company’s current price.

Several other research analysts have also issued reports on GD. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Susquehanna cut their target price on General Dynamics from $330.00 to $315.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Baird R W lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Citigroup increased their price target on shares of General Dynamics from $354.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Jefferies Financial Group restated a “hold” rating and set a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, General Dynamics currently has an average rating of “Hold” and an average price target of $303.53.

General Dynamics Stock Performance

Shares of NYSE:GD opened at $251.52 on Thursday. The business has a fifty day moving average of $268.57 and a 200-day moving average of $287.48. The firm has a market cap of $69.16 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 1.43 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. General Dynamics has a twelve month low of $247.01 and a twelve month 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 (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. On average, equities research analysts predict that General Dynamics will post 13.66 EPS for the current fiscal year.

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

Insider Transactions at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the firm’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 transaction, the vice president now owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.52% of the stock is owned by insiders.

Institutional Investors Weigh In On General Dynamics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its holdings in shares of General Dynamics by 40,389.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock valued at $416,876,000 after buying an additional 1,376,065 shares during the last quarter. State Street Corp raised its position in General Dynamics by 9.4% during the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after acquiring an additional 943,247 shares in the last quarter. Geode Capital Management LLC lifted its stake in General Dynamics by 13.0% in the third quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock valued at $1,674,998,000 after acquiring an additional 638,342 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of General Dynamics by 117.0% in the 3rd quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock valued at $259,469,000 after acquiring an additional 463,000 shares during the period. Finally, Barclays PLC raised its holdings in shares of General Dynamics by 43.1% in the 3rd quarter. Barclays PLC now owns 942,485 shares of the aerospace company’s stock valued at $284,818,000 after purchasing an additional 283,972 shares during the period. 86.14% of the stock is owned by institutional investors.

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.