General Dynamics (NYSE:GD) Price Target Lowered to $375.00 at DA Davidson

General Dynamics (NYSE:GDGet Free Report) had its price objective cut by research analysts at DA Davidson from $384.00 to $375.00 in a report issued on Thursday,MarketScreener reports. DA Davidson’s price objective suggests a potential upside of 9.47% from the company’s current price.

Several other analysts have also recently issued reports on the company. Bank of America reiterated a “buy” rating and issued a $400.00 price objective on shares of General Dynamics in a research note on Friday, January 30th. Wells Fargo & Company started coverage on General Dynamics in a research note on Wednesday, April 1st. They set an “overweight” rating and a $400.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered General Dynamics from a “buy” rating to a “hold” rating and set a $387.00 price target on the stock. in a research report on Wednesday, April 8th. Argus lifted their price objective on General Dynamics from $380.00 to $395.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Finally, JPMorgan Chase & Co. boosted their price objective on General Dynamics from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $387.70.

Check Out Our Latest Report on GD

General Dynamics Trading Down 0.5%

Shares of GD stock opened at $342.56 on Thursday. General Dynamics has a fifty-two week low of $266.98 and a fifty-two week high of $369.70. The company has a 50 day moving average price of $345.59 and a 200 day moving average price of $346.18. The stock has a market capitalization of $92.78 billion, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 2.26 and a beta of 0.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.89 and a current ratio of 1.38.

General Dynamics (NYSE:GDGet Free Report) last released its earnings results on Wednesday, April 29th. The aerospace company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.43. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The company had revenue of $13.48 billion for the quarter, compared to analyst estimates of $12.70 billion. During the same period in the prior year, the business earned $3.66 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. Equities research analysts predict that General Dynamics will post 16.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Phebe N. Novakovic sold 32,918 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $354.09, for a total transaction of $11,655,934.62. Following the completion of the transaction, the chief executive officer directly owned 766,457 shares of the company’s stock, valued at approximately $271,394,759.13. This represents a 4.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Marguerite Amy Gilliland sold 3,819 shares of the stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $353.50, for a total value of $1,350,016.50. Following the completion of the transaction, the executive vice president owned 44,767 shares in the company, valued at approximately $15,825,134.50. The trade was a 7.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 51,260 shares of company stock valued at $18,133,971 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of General Dynamics

Institutional investors have recently modified their holdings of the stock. Joule Financial LLC increased its holdings in General Dynamics by 4.3% in the fourth quarter. Joule Financial LLC now owns 705 shares of the aerospace company’s stock valued at $237,000 after buying an additional 29 shares in the last quarter. Brown Miller Wealth Management LLC grew its holdings in shares of General Dynamics by 0.3% in the 4th quarter. Brown Miller Wealth Management LLC now owns 8,889 shares of the aerospace company’s stock worth $2,993,000 after acquiring an additional 29 shares during the period. Crowley Wealth Management Inc. grew its holdings in shares of General Dynamics by 1.4% in the 3rd quarter. Crowley Wealth Management Inc. now owns 2,249 shares of the aerospace company’s stock worth $767,000 after acquiring an additional 30 shares during the period. First Financial Bankshares Inc increased its stake in General Dynamics by 2.6% in the 3rd quarter. First Financial Bankshares Inc now owns 1,196 shares of the aerospace company’s stock valued at $408,000 after purchasing an additional 30 shares in the last quarter. Finally, Steph & Co. raised its holdings in General Dynamics by 65.2% during the fourth quarter. Steph & Co. now owns 76 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Key Headlines Impacting General Dynamics

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About General Dynamics

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General Dynamics is a major American aerospace and defense contractor that designs, manufactures and supports a broad range of products and services for government and commercial customers worldwide. Headquartered in the United States (Reston, Virginia), the company supplies platforms and systems used by armed forces, civil authorities and private operators across multiple domains including air, land, sea and cyber.

Its principal activities span several operating businesses: a business aviation unit that develops and supports Gulfstream business jets; land systems that produce armored combat vehicles and related logistics and sustainment services; marine systems that design and construct submarines and surface ships for navies; and mission systems and information technology operations that provide command-and-control, communications, cybersecurity and systems-integration services.

Further Reading

Analyst Recommendations for General Dynamics (NYSE:GD)

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