General Dynamics (NYSE:GD) Price Target Lowered to $295.00 at TD Cowen

General Dynamics (NYSE:GD) had its target price lowered by TD Cowen from $315.00 to $295.00 in a research report report published on Tuesday morning.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company dropped their target price on General Dynamics from $295.00 to $279.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Sanford C. Bernstein reduced their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Susquehanna lowered their price target on shares of General Dynamics from $330.00 to $315.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Citigroup boosted their price objective on shares of General Dynamics from $354.00 to $360.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $303.28.

General Dynamics Stock Performance

NYSE GD opened at $262.33 on Tuesday. The firm has a market cap of $72.13 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 1.43 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $268.94 and its 200-day moving average is $287.64. General Dynamics has a 12-month low of $257.26 and a 12-month high of $316.90.

General Dynamics declared that its board has approved a stock buyback plan on Wednesday, December 4th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a $1.42 dividend. The ex-dividend date is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.17%. General Dynamics’s payout ratio is 43.26%.

Insider Activity at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the transaction, the vice president now directly owns 20,296 shares in the company, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.52% of the stock is owned by insiders.

Institutional Trading of General Dynamics

A number of institutional investors have recently made changes to their positions in GD. Wellington Management Group LLP boosted its position in General Dynamics by 0.8% during the 3rd quarter. Wellington Management Group LLP now owns 14,205,330 shares of the aerospace company’s stock valued at $4,292,851,000 after buying an additional 109,618 shares during the period. State Street Corp raised its stake in shares of General Dynamics by 9.4% during the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock valued at $3,307,612,000 after acquiring an additional 943,247 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of General Dynamics by 2.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock worth $2,366,124,000 after purchasing an additional 189,904 shares during the period. Geode Capital Management LLC increased its holdings in General Dynamics by 13.0% during the 3rd quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock valued at $1,674,998,000 after purchasing an additional 638,342 shares during the period. Finally, FMR LLC raised its position in General Dynamics by 0.5% during the 3rd quarter. FMR LLC now owns 4,940,537 shares of the aerospace company’s stock valued at $1,493,030,000 after purchasing an additional 24,464 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Company Profile

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.