General Dynamics (NYSE:GD) Price Target Lowered to $305.00 at Barclays

General Dynamics (NYSE:GD) had its target price reduced by equities research analysts at Barclays from $330.00 to $305.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the aerospace company’s stock. Barclays‘s price objective would suggest a potential upside of 16.93% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group restated a “hold” rating and set a $300.00 target price (down previously from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Susquehanna upped their price target on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Wells Fargo & Company reduced their price objective on shares of General Dynamics from $322.00 to $295.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada cut shares of General Dynamics from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $330.00 to $290.00 in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $311.29.

General Dynamics Stock Performance

Shares of GD stock traded down $2.54 on Monday, hitting $260.83. 594,280 shares of the stock were exchanged, compared to its average volume of 1,195,335. The firm’s 50 day moving average is $280.38 and its two-hundred day moving average is $290.31. General Dynamics has a one year low of $247.36 and a one year high of $316.90. The firm has a market capitalization of $71.72 billion, a PE ratio of 19.87, a P/E/G ratio of 1.62 and a beta of 0.61. 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 (NYSE:GD) last issued its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The business had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter in the prior year, the business earned $3.04 EPS. General Dynamics’s revenue for the quarter was up 10.4% compared to the same quarter last year. Sell-side analysts expect that General Dynamics will post 13.84 earnings per share for the current fiscal year.

General Dynamics declared that its board has initiated a share 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 buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are 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 shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the sale, the vice president now owns 20,296 shares in the company, valued at $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On General Dynamics

Several hedge funds and other institutional investors have recently modified their holdings of GD. Coston McIsaac & Partners increased its stake in shares of General Dynamics by 22.8% during the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after purchasing an additional 33 shares in the last quarter. Global X Japan Co. Ltd. grew its stake in shares of 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 worth $448,000 after acquiring an additional 33 shares during the last quarter. Grove Bank & Trust increased its holdings in shares of General Dynamics by 10.6% during the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock valued at $107,000 after acquiring an additional 34 shares in the last quarter. Trueblood Wealth Management LLC raised its position in shares of General Dynamics by 1.6% in the 3rd quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock worth $672,000 after purchasing an additional 34 shares during the last quarter. Finally, Rathbones Group PLC boosted its stake in General Dynamics by 1.8% in the 2nd quarter. Rathbones Group PLC now owns 2,022 shares of the aerospace company’s stock worth $587,000 after purchasing an additional 35 shares in the last quarter. 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.