General Dynamics (NYSE:GD) Given New $313.00 Price Target at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group cut its price target on General Dynamics to $313 (from $327) and maintained a sell rating, implying roughly a 9.25% downside from the prior close.
• Despite Goldman Sachs' stance, the consensus is more positive: MarketBeat shows an average rating of Moderate Buy (2 Strong Buy, 11 Buy, 7 Hold, 1 Sell) with an average price target of $388.70.
• Fundamentals show strength — General Dynamics reported quarterly EPS of $4.10 (vs. $3.67 est.) and revenue of $13.48B (vs. $12.70B); the stock trades near $345 with a market cap of about $93.3B and a PE of 21.6.

General Dynamics (NYSE:GD - Get Free Report) had its price objective lowered by The Goldman Sachs Group from $327.00 to $313.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage currently has a "sell" rating on the aerospace company's stock. The Goldman Sachs Group's price objective points to a potential downside of 9.25% from the stock's previous close.

Other analysts have also issued research reports about the stock. Bank of America reissued a "buy" rating and issued a $400.00 price objective on shares of General Dynamics in a research report on Friday, January 30th. Wells Fargo & Company began coverage on General Dynamics in a research note on Wednesday, April 1st. They set an "overweight" rating and a $400.00 target price on the stock. Jefferies Financial Group lowered their target price on shares of General Dynamics from $385.00 to $380.00 and set a "hold" rating on the stock in a report on Tuesday, April 7th. Susquehanna restated a "positive" rating and issued a $420.00 target price on shares of General Dynamics in a research report on Thursday, January 15th. Finally, DA Davidson cut their price objective on General Dynamics from $384.00 to $375.00 in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $388.70.

General Dynamics Stock Down 0.3%

General Dynamics stock opened at $344.90 on Monday. The company has a 50 day moving average of $345.59 and a 200-day moving average of $346.34. The company has a quick ratio of 0.90, a current ratio of 1.38 and a debt-to-equity ratio of 0.24. General Dynamics has a twelve month low of $267.39 and a twelve month high of $369.70. The stock has a market capitalization of $93.27 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 2.28 and a beta of 0.34.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The aerospace company reported $4.10 EPS for the quarter, beating the consensus estimate of $3.67 by $0.43. The business had revenue of $13.48 billion for the quarter, compared to analysts' expectations of $12.70 billion. General Dynamics had a net margin of 8.07% and a return on equity of 17.41%. The firm's revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.66 EPS. On average, equities research analysts anticipate that General Dynamics will post 16.46 EPS for the current fiscal year.

Insider Activity

In other General Dynamics news, EVP Mark Lagrand Burns sold 10,153 shares of the company's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $354.95, for a total value of $3,603,807.35. Following the completion of the sale, the executive vice president directly owned 38,975 shares of the company's stock, valued at approximately $13,834,176.25. This represents a 20.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Marguerite Amy Gilliland sold 3,819 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $353.50, for a total transaction of $1,350,016.50. Following the sale, the executive vice president owned 44,767 shares of the company's stock, valued at approximately $15,825,134.50. The trade was a 7.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 51,260 shares of company stock valued at $18,133,971 over the last ninety days. Company insiders own 1.40% of the company's stock.

Institutional Trading of General Dynamics

Several institutional investors have recently bought and sold shares of the company. Persium Advisors LLC lifted its stake in shares of General Dynamics by 3.7% during the 1st quarter. Persium Advisors LLC now owns 2,354 shares of the aerospace company's stock valued at $808,000 after buying an additional 85 shares in the last quarter. Global Assets Advisory LLC purchased a new position in General Dynamics in the 1st quarter worth about $220,000. Diversify Wealth Management LLC boosted its position in General Dynamics by 12.5% in the 1st quarter. Diversify Wealth Management LLC now owns 11,833 shares of the aerospace company's stock valued at $4,008,000 after buying an additional 1,317 shares during the period. Valmark Advisers Inc. increased its holdings in General Dynamics by 0.5% during the 1st quarter. Valmark Advisers Inc. now owns 7,010 shares of the aerospace company's stock worth $2,406,000 after purchasing an additional 32 shares during the period. Finally, Pittenger & Anderson Inc. boosted its stake in General Dynamics by 3.9% in the 1st quarter. Pittenger & Anderson Inc. now owns 3,494 shares of the aerospace company's stock worth $1,199,000 after purchasing an additional 130 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

About General Dynamics

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.

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