Sanford C. Bernstein Cuts General Dynamics (NYSE:GD) Price Target to $331.00

General Dynamics (NYSE:GD) had its price objective dropped by equities researchers at Sanford C. Bernstein from $343.00 to $331.00 in a report released on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the aerospace company’s stock. Sanford C. Bernstein’s price objective points to a potential upside of 9.53% from the stock’s previous close.

A number of other analysts have also recently weighed in on GD. Citigroup boosted their target price on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 target price on shares of General Dynamics in a research note on Tuesday, July 2nd. Royal Bank of Canada boosted their target price on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday. Susquehanna lifted their price target on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company lifted their price target on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $322.76.

General Dynamics Stock Performance

Shares of GD traded down $2.20 during mid-day trading on Thursday, hitting $302.20. 451,061 shares of the company’s stock were exchanged, compared to its average volume of 1,089,941. General Dynamics has a 52 week low of $236.58 and a 52 week high of $313.11. The stock’s 50-day simple moving average is $300.17 and its 200-day simple moving average is $294.55. The firm has a market cap of $82.91 billion, a price-to-earnings ratio of 24.70, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The firm had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same period last year, the business earned $3.04 earnings per share. On average, equities research analysts expect that General Dynamics will post 14.38 EPS for the current year.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.52% of the company’s stock.

Institutional Trading of General Dynamics

Institutional investors have recently modified their holdings of the business. Kingsview Wealth Management LLC lifted its stake in shares of General Dynamics by 87.6% during the 1st quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company’s stock valued at $4,150,000 after buying an additional 6,858 shares in the last quarter. Clearbridge Investments LLC purchased a new stake in General Dynamics in the 1st quarter worth approximately $493,000. Wealth Enhancement Advisory Services LLC lifted its stake in General Dynamics by 2.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 147,736 shares of the aerospace company’s stock worth $41,734,000 after purchasing an additional 3,531 shares in the last quarter. Cetera Investment Advisers lifted its stake in General Dynamics by 291.4% in the 1st quarter. Cetera Investment Advisers now owns 96,539 shares of the aerospace company’s stock worth $27,271,000 after purchasing an additional 71,871 shares in the last quarter. Finally, Peak Financial Advisors LLC purchased a new stake in General Dynamics in the 3rd quarter worth approximately $3,022,000. 86.14% of the stock is currently 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.