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

General Dynamics (NYSE:GD - Get Free Report) had its price objective cut by stock analysts at Susquehanna from $330.00 to $315.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "positive" rating on the aerospace company's stock. Susquehanna's price target indicates a potential upside of 20.53% from the company's current price.

A number of other research analysts also recently commented on the company. Wells Fargo & Company reduced their target price on General Dynamics from $295.00 to $279.00 and set an "equal weight" rating on the stock in a report on Wednesday. Vertical Research cut shares of General Dynamics from a "buy" rating to a "hold" rating and decreased their target price for the stock from $352.00 to $290.00 in a research report on Monday. Wolfe Research downgraded General Dynamics from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, December 11th. Sanford C. Bernstein lowered their target price on General Dynamics from $343.00 to $331.00 and set a "market perform" rating on the stock in a research report on Thursday, October 24th. Finally, Barclays reduced their price target on General Dynamics from $330.00 to $305.00 and set an "overweight" rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $308.18.

General Dynamics Stock Up 0.7 %

Shares of GD traded up $1.70 during midday trading on Wednesday, reaching $261.35. 1,120,535 shares of the company were exchanged, compared to its average volume of 1,471,764. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. General Dynamics has a 1-year low of $247.36 and a 1-year high of $316.90. The company has a market cap of $71.86 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 1.62 and a beta of 0.61. The stock has a 50-day moving average price of $278.61 and a 200-day moving average price of $289.74.

General Dynamics (NYSE:GD - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm had revenue of $11.67 billion during the quarter, compared to analysts' expectations of $11.65 billion. During the same quarter last year, the company posted $3.04 earnings per share. General Dynamics's revenue for the quarter was up 10.4% compared to the same quarter last year. Research analysts expect that General Dynamics will post 13.84 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 shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Insider Activity

In related news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the sale, 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 the SEC website. 1.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On General Dynamics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Coston McIsaac & Partners boosted its position in General Dynamics by 22.8% during the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company's stock worth $53,000 after purchasing an additional 33 shares during the period. Global X Japan Co. Ltd. raised its holdings in General Dynamics by 2.3% in the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company's stock worth $448,000 after acquiring an additional 33 shares during the period. Grove Bank & Trust lifted its position in General Dynamics by 10.6% during the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company's stock worth $107,000 after acquiring an additional 34 shares during the last quarter. Trueblood Wealth Management LLC grew its position in shares of 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, Rathbones Group PLC increased its stake in shares of General Dynamics by 1.8% in the second quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company's stock worth $587,000 after purchasing an additional 35 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.