General Dynamics (NYSE:GD) Price Target Cut to $315.00 by Analysts at Susquehanna

General Dynamics (NYSE:GD) had its target price reduced by equities research analysts at Susquehanna from $330.00 to $315.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “positive” rating on the aerospace company’s stock. Susquehanna’s price objective suggests a potential upside of 21.25% from the stock’s current price.

A number of other research firms have also recently weighed in on GD. Sanford C. Bernstein dropped their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company decreased their target price on General Dynamics from $295.00 to $279.00 and set an “equal weight” rating for the company in a research report on Wednesday. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Vertical Research lowered General Dynamics from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $352.00 to $290.00 in a report on Monday. Finally, TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has assigned 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 price target of $308.18.

General Dynamics Stock Up 0.1 %

GD stock traded up $0.14 during mid-day trading on Wednesday, reaching $259.79. 206,881 shares of the company traded hands, compared to its average volume of 1,278,653. The stock has a market cap of $71.43 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 1.62 and a beta of 0.61. General Dynamics has a fifty-two week low of $247.36 and a fifty-two week high of $316.90. The firm’s 50 day moving average price is $278.61 and its 200 day moving average price is $289.74. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The firm had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter in the previous year, the company earned $3.04 EPS. The business’s revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts predict that General Dynamics will post 13.84 EPS for the current fiscal year.

General Dynamics declared that its Board of Directors has initiated a stock repurchase program on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the 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 $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.52% of the stock is owned by insiders.

Institutional Investors Weigh In On General Dynamics

Several institutional investors have recently bought and sold shares of GD. Norway Savings Bank boosted its position in General Dynamics by 4.6% during the 4th quarter. Norway Savings Bank now owns 3,983 shares of the aerospace company’s stock valued at $1,049,000 after buying an additional 174 shares during the period. Diversified Trust Co grew its stake in shares of General Dynamics by 2.7% in the fourth quarter. Diversified Trust Co now owns 2,221 shares of the aerospace company’s stock worth $585,000 after purchasing an additional 58 shares during the last quarter. Capital Market Strategies LLC increased its holdings in General Dynamics by 9.0% during the 4th quarter. Capital Market Strategies LLC now owns 1,492 shares of the aerospace company’s stock valued at $393,000 after purchasing an additional 123 shares during the period. Central Pacific Bank Trust Division lifted its holdings in General Dynamics by 6.3% in the 4th quarter. Central Pacific Bank Trust Division now owns 1,683 shares of the aerospace company’s stock worth $443,000 after buying an additional 100 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of General Dynamics by 17.5% in the 3rd quarter. Principal Financial Group Inc. now owns 297,577 shares of the aerospace company’s stock worth $89,928,000 after buying an additional 44,387 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other 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.