General Dynamics (NYSE:GD) Given New $279.00 Price Target at Wells Fargo & Company

General Dynamics (NYSE:GD) had its target price cut by Wells Fargo & Company from $295.00 to $279.00 in a research note published on Wednesday,Benzinga reports. They currently have an equal weight rating on the aerospace company’s stock.

A number of other analysts have also recently commented on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $300.00 target price (down from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. The Goldman Sachs Group lowered shares of General Dynamics from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $283.00 to $245.00 in a report on Thursday, December 12th. Vertical Research lowered General Dynamics from a “buy” rating to a “hold” rating and reduced their target price for the stock from $352.00 to $290.00 in a research note on Monday, January 6th. Wolfe Research downgraded General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. Finally, TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, General Dynamics has an average rating of “Hold” and an average price target of $308.18.

General Dynamics Price Performance

NYSE GD opened at $259.38 on Wednesday. The firm’s fifty day simple moving average is $276.54 and its two-hundred day simple moving average is $289.08. The firm has a market capitalization of $71.32 billion, a P/E ratio of 19.75, 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 has a 12-month low of $247.36 and a 12-month high of $316.90.

General Dynamics (NYSE:GD) last announced 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 business had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.04 earnings per share. Analysts forecast that General Dynamics will post 13.84 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 2.19%. The ex-dividend date is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is 43.26%.

General Dynamics declared that its Board of Directors has initiated a share repurchase program on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the transaction, the vice president now directly owns 20,296 shares in the company, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

Several hedge funds have recently modified their holdings of GD. MFA Wealth Advisors LLC boosted its holdings in General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 58 shares in the last quarter. Hara Capital LLC purchased a new position in General Dynamics in the third quarter worth $26,000. Lowe Wealth Advisors LLC acquired a new stake in General Dynamics in the third quarter valued at $30,000. True Wealth Design LLC purchased a new stake in shares of General Dynamics during the 3rd quarter worth $34,000. Finally, Meeder Asset Management Inc. increased its holdings in shares of General Dynamics by 385.2% in the 2nd quarter. Meeder Asset Management Inc. now owns 131 shares of the aerospace company’s stock valued at $38,000 after purchasing an additional 104 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

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.