General Dynamics (NYSE:GD) PT Lowered to $331.00

General Dynamics (NYSE:GD) had its target price cut by equities researchers at Sanford C. Bernstein from $343.00 to $331.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the aerospace company’s stock. Sanford C. Bernstein’s price objective points to a potential upside of 9.41% from the company’s previous close.

A number of other brokerages have also recently commented on GD. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $293.00 to $345.00 in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Barclays raised their target price on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company boosted their price target on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, BTIG Research began coverage on General Dynamics in a research report on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and an average target price of $323.88.

General Dynamics Price Performance

Shares of General Dynamics stock opened at $302.52 on Thursday. The company’s fifty day simple moving average is $300.28 and its two-hundred day simple moving average is $294.60. General Dynamics has a 12-month low of $236.58 and a 12-month high of $313.11. The firm has a market cap of $83.00 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last released its quarterly earnings data 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 return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter last year, the business posted $3.04 EPS. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts expect that General Dynamics will post 14.38 EPS for the current year.

Insider Activity at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Massachusetts Financial Services Co. MA raised its position in General Dynamics by 4.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after purchasing an additional 293,316 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in General Dynamics by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after buying an additional 115,063 shares during the period. Ameriprise Financial Inc. lifted its position in General Dynamics by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock worth $601,756,000 after buying an additional 47,915 shares during the last quarter. Boston Partners boosted its stake in General Dynamics by 1.4% during the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock worth $474,927,000 after buying an additional 23,262 shares during the period. Finally, Bank of New York Mellon Corp increased its position in General Dynamics by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock valued at $466,049,000 after acquiring an additional 23,304 shares during the last quarter. 86.14% of the stock is 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.