Susquehanna Forecasts Strong Price Appreciation for General Dynamics (NYSE:GD) Stock

General Dynamics (NYSE:GD) had its price objective increased by research analysts at Susquehanna from $300.00 to $315.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “positive” rating on the aerospace company’s stock. Susquehanna’s price target points to a potential upside of 15.11% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Wolfe Research cut shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. cut their price target on General Dynamics from $307.00 to $284.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. 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. TD Cowen lowered their target price on General Dynamics from $315.00 to $295.00 in a research report on Tuesday, January 28th. Finally, William Blair downgraded shares of General Dynamics from an “outperform” rating to a “market perform” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, General Dynamics presently has an average rating of “Hold” and a consensus target price of $298.59.

General Dynamics Trading Down 0.2 %

Shares of General Dynamics stock traded down $0.49 on Wednesday, hitting $273.66. 147,289 shares of the company’s stock traded hands, compared to its average volume of 1,667,684. The company has a fifty day moving average of $258.90 and a two-hundred day moving average of $276.19. General Dynamics has a one year low of $239.87 and a one year high of $316.90. The company has a market capitalization of $73.98 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 1.69 and a beta of 0.59. 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 posted its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (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%. As a group, sell-side analysts expect 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 program on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, SVP Marguerite Amy Gilliland sold 27,562 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the completion of the transaction, the senior vice president now directly owns 45,192 shares of the company’s stock, valued at $12,297,195.12. This represents a 37.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Laura J. Schumacher sold 1,796 shares of General Dynamics stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the sale, the director now directly owns 11,175 shares in the company, valued at $2,857,224. This trade represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

Several large investors have recently added to or reduced their stakes in the company. United Bank lifted its stake in shares of General Dynamics by 4.0% during the 3rd quarter. United Bank now owns 5,776 shares of the aerospace company’s stock valued at $1,746,000 after buying an additional 224 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of General Dynamics during the third quarter worth $94,000. HighTower Advisors LLC boosted its holdings in shares of General Dynamics by 9.5% in the third quarter. HighTower Advisors LLC now owns 250,705 shares of the aerospace company’s stock worth $75,774,000 after acquiring an additional 21,805 shares during the period. Investment Management Corp of Ontario grew its position in shares of General Dynamics by 48.2% in the third quarter. Investment Management Corp of Ontario now owns 7,690 shares of the aerospace company’s stock valued at $2,324,000 after purchasing an additional 2,500 shares in the last quarter. Finally, IHT Wealth Management LLC raised its stake in shares of General Dynamics by 6.1% during the 3rd quarter. IHT Wealth Management LLC now owns 8,797 shares of the aerospace company’s stock valued at $2,659,000 after purchasing an additional 504 shares during the period. Hedge funds and other 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.