Wells Fargo & Company Forecasts Strong Price Appreciation for General Dynamics (NYSE:GD) Stock

General Dynamics (NYSE:GD - Free Report) had its price target raised by Wells Fargo & Company from $244.00 to $261.00 in a research note released on Friday morning,Benzinga reports. They currently have an equal weight rating on the aerospace company's stock.

Other research analysts have also issued reports about the company. BTIG Research lowered General Dynamics from a "buy" rating to a "neutral" rating in a research report on Thursday, February 13th. Wolfe Research downgraded General Dynamics from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, December 11th. Susquehanna cut their target price on General Dynamics from $315.00 to $300.00 and set a "positive" rating on the stock in a report on Thursday, January 30th. Vertical Research lowered General Dynamics from a "buy" rating to a "hold" rating and cut their target price for the company from $352.00 to $290.00 in a report on Monday, January 6th. Finally, William Blair downgraded shares of General Dynamics from an "outperform" rating to a "market perform" rating in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $297.71.

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General Dynamics Stock Performance

GD stock traded up $7.27 during trading on Friday, reaching $271.82. 1,978,836 shares of the company's stock were exchanged, compared to its average volume of 1,795,760. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. General Dynamics has a 1-year low of $239.87 and a 1-year high of $316.90. The company's fifty day moving average price is $257.80 and its 200-day moving average price is $279.88. The firm has a market cap of $73.49 billion, a PE ratio of 19.93, a P/E/G ratio of 1.69 and a beta of 0.59.

General Dynamics (NYSE:GD - Get Free Report) last released its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share 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%. On average, research analysts expect that General Dynamics will post 14.83 EPS for the current fiscal year.

General Dynamics declared that its board has approved a stock repurchase plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be paid a $1.50 dividend. This is a positive change from General Dynamics's previous quarterly dividend of $1.42. The ex-dividend date is Friday, April 11th. This represents a $6.00 annualized dividend and a yield of 2.21%. General Dynamics's dividend payout ratio is currently 41.64%.

Insider Buying and Selling at General Dynamics

In related news, Director Laura J. Schumacher sold 1,796 shares of the business's stock in a transaction 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 sale, the director now owns 11,175 shares in the company, valued at $2,857,224. The trade was a 13.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.60% of the company's stock.

Hedge Funds Weigh In On General Dynamics

A number of institutional investors and hedge funds have recently modified their holdings of GD. Jeppson Wealth Management LLC lifted its holdings in shares of General Dynamics by 3.8% in the 3rd quarter. Jeppson Wealth Management LLC now owns 955 shares of the aerospace company's stock worth $289,000 after purchasing an additional 35 shares in the last quarter. Community Bank N.A. lifted its stake in shares of General Dynamics by 0.6% in the third quarter. Community Bank N.A. now owns 5,461 shares of the aerospace company's stock valued at $1,650,000 after buying an additional 35 shares in the last quarter. Freedom Investment Management Inc. grew its holdings in shares of General Dynamics by 0.9% during the third quarter. Freedom Investment Management Inc. now owns 4,344 shares of the aerospace company's stock valued at $1,313,000 after buying an additional 37 shares during the last quarter. Purus Wealth Management LLC increased its position in shares of General Dynamics by 1.5% during the fourth quarter. Purus Wealth Management LLC now owns 2,660 shares of the aerospace company's stock worth $701,000 after acquiring an additional 39 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in shares of General Dynamics by 0.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 8,450 shares of the aerospace company's stock worth $2,554,000 after acquiring an additional 40 shares during the last quarter. 86.14% of the stock is currently owned by 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.