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

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

Other research analysts have also issued reports about the company. The Goldman Sachs Group lowered General Dynamics from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $283.00 to $245.00 in a research report on Thursday, December 12th. Royal Bank of Canada cut General Dynamics from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $330.00 to $290.00 in a report on Thursday, December 19th. Vertical Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $352.00 to $290.00 in a report on Monday. Susquehanna upped their price objective on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, General Dynamics presently has an average rating of “Hold” and a consensus target price of $311.29.

General Dynamics Trading Down 1.0 %

General Dynamics stock traded down $2.54 during trading hours on Monday, hitting $260.83. The stock had a trading volume of 594,280 shares, compared to its average volume of 1,195,335. The stock has a market cap of $71.72 billion, a price-to-earnings ratio of 19.87, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The business’s 50 day simple moving average is $280.38 and its 200-day simple moving average is $290.31. General Dynamics has a one year low of $247.36 and a one year high of $316.90.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $11.65 billion. During the same quarter in the prior year, the business earned $3.04 earnings per share. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. On average, equities analysts predict that General Dynamics will post 13.84 EPS for the current fiscal year.

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

Insider Activity at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction 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 completion of the sale, the vice president now directly owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.52% of the stock is owned by insiders.

Institutional Trading of General Dynamics

Several institutional investors and hedge funds have recently made changes to their positions in GD. TD Asset Management Inc lifted its position in shares of General Dynamics by 4.6% during the 2nd quarter. TD Asset Management Inc now owns 84,907 shares of the aerospace company’s stock worth $24,635,000 after buying an additional 3,769 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in General Dynamics in the second quarter worth $182,000. Chris Bulman Inc bought a new position in General Dynamics in the 2nd quarter valued at $66,000. Acadian Asset Management LLC raised its stake in shares of General Dynamics by 239.7% during the 2nd quarter. Acadian Asset Management LLC now owns 8,075 shares of the aerospace company’s stock worth $2,341,000 after purchasing an additional 5,698 shares during the period. Finally, Caprock Group LLC boosted its holdings in shares of General Dynamics by 41.9% in the 2nd quarter. Caprock Group LLC now owns 8,500 shares of the aerospace company’s stock worth $2,466,000 after buying an additional 2,511 shares during 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.