General Dynamics (NYSE:GD) Price Target Cut to $320.00

General Dynamics (NYSE:GD) had its target price dropped by equities research analysts at Royal Bank of Canada from $325.00 to $320.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the aerospace company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 12.92% from the stock’s previous close.

A number of other analysts have also recently commented on the company. Wells Fargo & Company boosted their price target on General Dynamics from $291.00 to $322.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. UBS Group boosted their price objective on shares of General Dynamics from $286.00 to $296.00 and gave the stock a “neutral” rating in a report on Monday, January 29th. The Goldman Sachs Group boosted their price objective on shares of General Dynamics from $253.00 to $284.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Citigroup boosted their price objective on shares of General Dynamics from $283.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Susquehanna boosted their price objective on shares of General Dynamics from $301.00 to $333.00 and gave the stock a “positive” rating in a report on Friday, April 12th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and a consensus price target of $283.47.

General Dynamics Stock Up 0.8 %

General Dynamics stock traded up $2.28 during trading hours on Thursday, hitting $283.39. 599,940 shares of the stock traded hands, compared to its average volume of 1,098,091. The firm’s 50-day moving average price is $280.26 and its two-hundred day moving average price is $261.22. The company has a current ratio of 1.44, a quick ratio of 0.92 and a debt-to-equity ratio of 0.41. The company has a market cap of $77.75 billion, a PE ratio of 23.56, a PEG ratio of 1.86 and a beta of 0.68. General Dynamics has a one year low of $202.35 and a one year high of $296.50.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.01). The firm had revenue of $10.73 billion for the quarter, compared to the consensus estimate of $10.26 billion. General Dynamics had a net margin of 7.84% and a return on equity of 16.61%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.64 earnings per share. On average, research analysts forecast that General Dynamics will post 14.56 EPS for the current year.

Insider Buying and Selling

In related news, CEO Phebe N. Novakovic sold 32,355 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $264.31, for a total value of $8,551,750.05. Following the completion of the transaction, the chief executive officer now owns 773,977 shares of the company’s stock, valued at approximately $204,569,860.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other General Dynamics news, EVP Mark C. Roualet sold 73,330 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $264.75, for a total transaction of $19,414,117.50. Following the completion of the transaction, the executive vice president now owns 149,205 shares of the company’s stock, valued at approximately $39,502,023.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Phebe N. Novakovic sold 32,355 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $264.31, for a total transaction of $8,551,750.05. Following the transaction, the chief executive officer now directly owns 773,977 shares of the company’s stock, valued at approximately $204,569,860.87. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GD. Legend Financial Advisors Inc. raised its position in General Dynamics by 46.8% in the 1st 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 position in shares of General Dynamics by 2.5% during the first quarter. Diversified Trust Co now owns 1,503 shares of the aerospace company’s stock worth $425,000 after acquiring an additional 36 shares during the period. Fulton Bank N.A. increased its position in shares of General Dynamics by 1.1% during the first quarter. Fulton Bank N.A. now owns 3,299 shares of the aerospace company’s stock worth $932,000 after acquiring an additional 37 shares during the period. Copperwynd Financial LLC increased its position in shares of General Dynamics by 3.7% during the fourth quarter. Copperwynd Financial LLC now owns 1,056 shares of the aerospace company’s stock worth $274,000 after acquiring an additional 38 shares during the period. Finally, Woodward Diversified Capital LLC increased its position in shares of General Dynamics by 2.3% during the fourth quarter. Woodward Diversified Capital LLC now owns 1,727 shares of the aerospace company’s stock worth $448,000 after acquiring an additional 39 shares during the period. 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.