Citigroup Lowers General Dynamics (NYSE:GD) Price Target to $330.00

General Dynamics (NYSE:GD) had its target price cut by stock analysts at Citigroup from $335.00 to $330.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the aerospace company’s stock. Citigroup’s price objective suggests a potential upside of 23.83% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. Baird R W downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Wells Fargo & Company reduced their target price on General Dynamics from $261.00 to $236.00 and set an “equal weight” rating for the company in a report on Tuesday. BTIG Research downgraded shares of General Dynamics from a “buy” rating to a “neutral” rating in a report on Thursday, February 13th. Wolfe Research cut shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. dropped their target price on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $296.82.

General Dynamics Stock Performance

Shares of GD traded down $5.03 during mid-day trading on Thursday, hitting $266.49. 738,126 shares of the company’s stock were exchanged, compared to its average volume of 1,338,849. The firm has a market capitalization of $71.52 billion, a P/E ratio of 19.55, a P/E/G ratio of 1.69 and a beta of 0.43. General Dynamics has a fifty-two week low of $239.20 and a fifty-two week high of $316.90. The business’s 50 day moving average is $258.79 and its two-hundred day moving average is $274.17. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last announced 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 net margin of 7.93% and a return on equity of 17.10%. On average, equities analysts expect that General Dynamics will post 14.83 earnings per share for the current year.

Insider Transactions at General Dynamics

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $272.11, for a total transaction of $7,499,895.82. Following the transaction, the senior vice president now directly owns 45,192 shares of the company’s stock, valued at $12,297,195.12. The trade was a 37.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the sale, the director now directly owns 11,175 shares of the company’s stock, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Institutional Trading of General Dynamics

Several large investors have recently bought and sold shares of GD. GAMMA Investing LLC grew its holdings in General Dynamics by 34,578.2% during the 1st quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company’s stock valued at $339,253,000 after purchasing an additional 1,241,011 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in shares of General Dynamics during the fourth quarter worth about $279,582,000. Raymond James Financial Inc. acquired a new position in shares of General Dynamics in the fourth quarter worth about $197,238,000. Vanguard Group Inc. boosted its holdings in General Dynamics by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company’s stock valued at $6,265,813,000 after purchasing an additional 706,317 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in General Dynamics by 7.4% during the 4th quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company’s stock worth $1,774,381,000 after purchasing an additional 463,497 shares during the last quarter. Institutional investors and hedge funds 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.