General Dynamics (GD) Price Target Cut to $178.00

General Dynamics (NYSE:GD) had its price target decreased by analysts at Sanford C. Bernstein from $186.00 to $178.00 in a research report issued to clients and investors on Monday, February 4th, The Fly 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 5.15% from the company’s current price.

Several other analysts have also recently commented on GD. Zacks Investment Research cut shares of General Dynamics from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Robert W. Baird lowered their target price on shares of General Dynamics from $243.00 to $222.00 and set an “outperform” rating for the company in a research note on Thursday, October 25th. Stifel Nicolaus lowered their target price on shares of General Dynamics from $210.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, October 26th. Argus decreased their price target on shares of General Dynamics from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Finally, Citigroup decreased their price target on shares of General Dynamics from $210.00 to $195.00 and set a “neutral” rating on the stock in a report on Thursday, October 25th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $207.88.

Shares of GD traded down $0.94 during mid-day trading on Monday, reaching $169.28. 1,109,092 shares of the company’s stock were exchanged, compared to its average volume of 1,436,464. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.23 and a quick ratio of 0.83. General Dynamics has a 52-week low of $143.87 and a 52-week high of $230.00. The stock has a market cap of $49.73 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.60 and a beta of 1.16.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, January 30th. The aerospace company reported $3.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.98 by $0.09. General Dynamics had a net margin of 9.24% and a return on equity of 28.33%. The business had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.34 billion. During the same period last year, the company posted $2.50 EPS. The company’s revenue was up 25.4% on a year-over-year basis. On average, equities analysts expect that General Dynamics will post 11.71 earnings per share for the current fiscal year.

In other news, Director Catherine B. Reynolds bought 600 shares of the firm’s stock in a transaction on Friday, December 7th. The stock was purchased at an average price of $167.64 per share, for a total transaction of $100,584.00. Following the transaction, the director now owns 1,153 shares in the company, valued at $193,288.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lester L. Lyles sold 4,580 shares of the company’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $172.42, for a total transaction of $789,683.60. Following the completion of the transaction, the director now owns 12,314 shares of the company’s stock, valued at approximately $2,123,179.88. The disclosure for this sale can be found here. 6.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of GD. Griffin Asset Management Inc. lifted its stake in General Dynamics by 6.7% during the fourth quarter. Griffin Asset Management Inc. now owns 1,303 shares of the aerospace company’s stock valued at $205,000 after purchasing an additional 82 shares during the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in General Dynamics by 11.6% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 982 shares of the aerospace company’s stock valued at $154,000 after purchasing an additional 102 shares during the last quarter. Actinver Wealth Management Inc. acquired a new stake in General Dynamics during the fourth quarter valued at approximately $534,000. Aspire Private Capital LLC acquired a new stake in General Dynamics during the fourth quarter valued at approximately $29,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in General Dynamics during the fourth quarter valued at approximately $866,000. Hedge funds and other institutional investors own 86.39% of the company’s stock.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.

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