Susquehanna Has Lowered Expectations for General Dynamics (NYSE:GD) Stock Price

General Dynamics (NYSE:GD) had its target price decreased by equities researchers at Susquehanna from $330.00 to $315.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “positive” rating on the aerospace company’s stock. Susquehanna’s price target indicates a potential upside of 20.53% from the stock’s current price.

GD has been the topic of several other research reports. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $300.00 price objective (down from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Wells Fargo & Company reduced their target price on General Dynamics from $295.00 to $279.00 and set an “equal weight” rating for the company in a report on Wednesday. Barclays lowered their price target on General Dynamics from $330.00 to $305.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $308.18.

General Dynamics Stock Up 0.7 %

Shares of NYSE GD opened at $261.35 on Wednesday. The firm has a fifty day simple moving average of $277.21 and a two-hundred day simple moving average of $289.35. The firm has a market capitalization of $71.86 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. General Dynamics has a 12 month low of $247.36 and a 12 month high of $316.90.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 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 analysts’ expectations of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.04 EPS. Equities analysts expect that General Dynamics will post 13.84 earnings per share for the current year.

General Dynamics announced that its Board of Directors has authorized a stock buyback plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

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

Institutional Trading of General Dynamics

Large investors have recently modified their holdings of the company. Acadian Asset Management LLC increased its position in General Dynamics by 239.7% during the 2nd quarter. Acadian Asset Management LLC now owns 8,075 shares of the aerospace company’s stock valued at $2,341,000 after purchasing an additional 5,698 shares during the period. PFG Investments LLC raised its stake in General Dynamics by 22.1% in the second quarter. PFG Investments LLC now owns 1,548 shares of the aerospace company’s stock worth $449,000 after buying an additional 280 shares in the last quarter. Prudential PLC lifted its holdings in General Dynamics by 52.9% during the second quarter. Prudential PLC now owns 13,700 shares of the aerospace company’s stock worth $3,975,000 after buying an additional 4,739 shares during the period. Choreo LLC boosted its position in General Dynamics by 773.8% during the 2nd quarter. Choreo LLC now owns 7,174 shares of the aerospace company’s stock valued at $2,066,000 after acquiring an additional 6,353 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its holdings in shares of General Dynamics by 3.0% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 2,013 shares of the aerospace company’s stock valued at $584,000 after acquiring an additional 58 shares during the period. Hedge funds and other institutional investors 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.