General Dynamics (NYSE:GD) Given New $276.00 Price Target at Wells Fargo & Company

General Dynamics (NYSE:GD) had its target price cut by Wells Fargo & Company from $279.00 to $276.00 in a research note published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the aerospace company’s stock.

Several other equities analysts have also weighed in on GD. Jefferies Financial Group restated a “hold” rating and set a $300.00 target price (down previously from $345.00) on shares of General Dynamics in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft cut their target price on General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Wolfe Research lowered shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 11th. Susquehanna decreased their price target on General Dynamics from $330.00 to $315.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, TD Cowen cut their price objective on General Dynamics from $315.00 to $295.00 in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $301.24.

General Dynamics Stock Up 2.2 %

Shares of NYSE:GD opened at $256.93 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. General Dynamics has a fifty-two week low of $247.01 and a fifty-two week high of $316.90. The stock has a market cap of $70.65 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 1.34 and a beta of 0.61. The firm’s 50 day moving average price is $268.00 and its 200 day moving average price is $287.23.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a return on equity of 17.08% and a net margin of 7.93%. As a group, equities research analysts predict that General Dynamics will post 15.92 earnings per share for the current fiscal year.

General Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio is currently 41.64%.

General Dynamics announced that its Board of Directors has approved a share buyback plan on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Transactions at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. MFA Wealth Advisors LLC raised its holdings in shares of General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 58 shares in the last quarter. Financial Life Planners purchased a new stake in General Dynamics during the fourth quarter worth $25,000. Hara Capital LLC purchased a new position in shares of General Dynamics in the 3rd quarter valued at $26,000. Sugar Maple Asset Management LLC bought a new stake in shares of General Dynamics in the 4th quarter valued at about $28,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of General Dynamics during the fourth quarter worth about $28,000. 86.14% of the stock is currently owned by institutional investors.

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.