General Dynamics (NYSE:GD) Price Target Lowered to $281.00 at UBS Group

General Dynamics (NYSE:GD) had its price objective dropped by analysts at UBS Group from $337.00 to $281.00 in a research report issued on Tuesday. The firm currently has a “neutral” rating on the aerospace company’s stock. UBS Group’s target price indicates a potential upside of 6.64% from the company’s previous close.

Several other analysts have also recently commented on GD. Wells Fargo & Company dropped their target price on shares of General Dynamics from $295.00 to $279.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Vertical Research downgraded General Dynamics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $352.00 to $290.00 in a report on Monday, January 6th. Baird R W cut General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. TD Cowen lowered their price target on General Dynamics from $315.00 to $295.00 in a research note on Tuesday. Finally, The Goldman Sachs Group lowered shares of General Dynamics from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $283.00 to $245.00 in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, General Dynamics has a consensus rating of “Hold” and a consensus target price of $303.28.

General Dynamics Trading Down 2.3 %

Shares of NYSE GD traded down $6.33 during mid-day trading on Tuesday, hitting $263.51. The company’s stock had a trading volume of 719,909 shares, compared to its average volume of 1,554,794. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The stock has a market cap of $72.46 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 1.43 and a beta of 0.61. The company’s fifty day simple moving average is $268.94 and its 200-day simple moving average is $287.64. General Dynamics has a one year low of $257.26 and a one year high of $316.90.

General Dynamics announced that its Board of Directors has approved a share buyback program on Wednesday, December 4th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the 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 sale, the vice president now 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 SEC, which is available through this link. 1.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On General Dynamics

Institutional investors and hedge funds have recently modified their holdings of the company. Global X Japan Co. Ltd. boosted its position in General Dynamics by 2.3% in the third quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock valued at $448,000 after buying an additional 33 shares in the last quarter. Coston McIsaac & Partners grew its position in General Dynamics by 22.8% during the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after acquiring an additional 33 shares during the last quarter. Grove Bank & Trust increased its holdings in General Dynamics by 10.6% in the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after purchasing an additional 34 shares in the last quarter. Trueblood Wealth Management LLC raised its position in General Dynamics by 1.6% in the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock valued at $672,000 after purchasing an additional 34 shares during the last quarter. Finally, Jeppson Wealth Management LLC boosted its stake in shares of General Dynamics by 3.8% during the third quarter. Jeppson Wealth Management LLC now owns 955 shares of the aerospace company’s stock valued at $289,000 after purchasing an additional 35 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

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.