JPMorgan Chase & Co. Issues Pessimistic Forecast for General Dynamics (NYSE:GD) Stock Price

General Dynamics (NYSE:GD) had its price target reduced by analysts at JPMorgan Chase & Co. from $307.00 to $284.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the aerospace company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 10.43% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. TD Cowen reduced their price objective on shares of General Dynamics from $315.00 to $295.00 in a research note on Tuesday. Barclays reduced their price objective on shares of General Dynamics from $330.00 to $305.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Robert W. Baird reaffirmed a “neutral” rating and set a $283.00 price objective (down previously from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. Finally, Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $301.24.

General Dynamics Price Performance

GD opened at $257.17 on Thursday. The company has a market capitalization of $70.71 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 1.34 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 firm has a 50-day moving average price of $267.54 and a 200-day moving average price of $287.02. General Dynamics has a twelve month low of $247.01 and a twelve month high of $316.90.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a return on equity of 17.08% and a net margin of 7.93%. Equities analysts expect that General Dynamics will post 15.92 EPS for the current year.

General Dynamics announced that its board has approved a share buyback plan on Wednesday, December 4th that permits the company to buyback 10,000,000 shares. This buyback authorization permits the aerospace company to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the sale, the vice president now owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This represents a 21.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On General Dynamics

Several institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in General Dynamics by 0.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,205,330 shares of the aerospace company’s stock valued at $4,292,851,000 after buying an additional 109,618 shares during the period. State Street Corp lifted its position in shares of General Dynamics by 9.4% in the 3rd quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after purchasing an additional 943,247 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of General Dynamics by 2.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock worth $2,366,124,000 after purchasing an additional 189,904 shares during the period. Geode Capital Management LLC lifted its position in shares of General Dynamics by 13.0% in the 3rd quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock worth $1,674,998,000 after purchasing an additional 638,342 shares during the period. Finally, FMR LLC lifted its position in shares of General Dynamics by 0.5% in the 3rd quarter. FMR LLC now owns 4,940,537 shares of the aerospace company’s stock worth $1,493,030,000 after purchasing an additional 24,464 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

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.