General Dynamics (NYSE:GD) Price Target Lowered to $295.00 at Deutsche Bank Aktiengesellschaft

General Dynamics (NYSE:GD) had its price target lowered by Deutsche Bank Aktiengesellschaft from $303.00 to $295.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the aerospace company’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 11.96% from the stock’s current price.

Several other research firms have also commented on GD. Jefferies Financial Group reaffirmed a “hold” rating and set a $300.00 target price (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Sanford C. Bernstein dropped their price target 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. Wells Fargo & Company lowered their price objective on General Dynamics from $322.00 to $295.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Wolfe Research lowered shares of General Dynamics from an “outperform” rating to a “peer perform” rating 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 cut their price objective for the stock from $330.00 to $290.00 in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $314.19.

General Dynamics Price Performance

General Dynamics stock opened at $263.49 on Thursday. The company has a market cap of $72.45 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 1.63 and a beta of 0.59. The business’s 50 day simple moving average is $281.97 and its 200 day simple moving average is $290.83. 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 12 month low of $247.36 and a 12 month high of $316.90.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.04 EPS. Sell-side analysts forecast that General Dynamics will post 13.87 EPS for the current year.

General Dynamics declared that its Board of Directors has approved a share buyback program on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now owns 20,296 shares of the company’s stock, valued at $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On General Dynamics

Several institutional investors and hedge funds have recently bought and sold shares of GD. Coston McIsaac & Partners increased its position in shares of General Dynamics by 22.8% in the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after acquiring an additional 33 shares during the period. Global X Japan Co. Ltd. grew its stake in General Dynamics by 2.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock valued at $448,000 after purchasing an additional 33 shares during the last quarter. Grove Bank & Trust increased its holdings in shares of General Dynamics by 10.6% in the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock valued at $107,000 after purchasing an additional 34 shares during the period. Trueblood Wealth Management LLC lifted its holdings in shares of General Dynamics by 1.6% during the third 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 period. Finally, Rathbones Group PLC increased its holdings 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 buying an additional 35 shares during the period. 86.14% of the stock is owned by hedge funds and other 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.