General Dynamics (NYSE:GD) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

General Dynamics (NYSE:GD - Free Report) had its price objective lifted by Wells Fargo & Company from $244.00 to $261.00 in a research note issued to investors on Friday morning, MarketBeat reports. They currently have an equal weight rating on the aerospace company's stock.

GD has been the topic of a number of other reports. Vertical Research downgraded shares of General Dynamics from a "buy" rating to a "hold" rating and reduced their price target for the stock from $352.00 to $290.00 in a research report on Monday, January 6th. William Blair downgraded General Dynamics from an "outperform" rating to a "market perform" rating in a research note on Friday, February 21st. Susquehanna lowered their target price on General Dynamics from $315.00 to $300.00 and set a "positive" rating for the company in a report on Thursday, January 30th. Wolfe Research downgraded General Dynamics from an "outperform" rating to a "peer perform" rating in a report on Wednesday, December 11th. Finally, Robert W. Baird reissued a "neutral" rating and set a $283.00 price target (down previously from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, General Dynamics currently has a consensus rating of "Hold" and an average target price of $297.71.

General Dynamics Stock Down 2.8 %

Shares of GD stock traded down $7.69 during mid-day trading on Friday, reaching $264.25. 1,674,482 shares of the company were exchanged, compared to its average volume of 1,232,278. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.82 and a current ratio of 1.37. The business's 50 day simple moving average is $257.97 and its 200 day simple moving average is $279.63. The company has a market capitalization of $71.44 billion, a P/E ratio of 19.37, a P/E/G ratio of 1.69 and a beta of 0.59. General Dynamics has a fifty-two week low of $239.87 and a fifty-two week high of $316.90.

General Dynamics (NYSE:GD - Get Free Report) last released its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing analysts' consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. Research analysts predict that General Dynamics will post 14.83 earnings per share for the current year.

General Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 11th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, April 11th. This is a positive change from General Dynamics's previous quarterly dividend of $1.42. This represents a $6.00 dividend on an annualized basis and a yield of 2.27%. General Dynamics's dividend payout ratio (DPR) is presently 43.99%.

General Dynamics announced that its board has initiated a share repurchase program on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Activity at General Dynamics

In other General Dynamics news, Director Laura J. Schumacher sold 1,796 shares of the company's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $255.68, for a total value of $459,201.28. Following the transaction, the director now directly owns 11,175 shares of the company's stock, valued at $2,857,224. This represents a 13.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On General Dynamics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jeppson Wealth Management LLC raised its holdings in General Dynamics by 3.8% during the third quarter. Jeppson Wealth Management LLC now owns 955 shares of the aerospace company's stock valued at $289,000 after buying an additional 35 shares in the last quarter. Community Bank N.A. raised its stake in shares of General Dynamics by 0.6% in the 3rd quarter. Community Bank N.A. now owns 5,461 shares of the aerospace company's stock valued at $1,650,000 after acquiring an additional 35 shares in the last quarter. Freedom Investment Management Inc. lifted its holdings in General Dynamics by 0.9% in the 3rd quarter. Freedom Investment Management Inc. now owns 4,344 shares of the aerospace company's stock worth $1,313,000 after purchasing an additional 37 shares during the last quarter. Purus Wealth Management LLC boosted its position in General Dynamics by 1.5% during the fourth quarter. Purus Wealth Management LLC now owns 2,660 shares of the aerospace company's stock worth $701,000 after purchasing an additional 39 shares during the period. Finally, Verdence Capital Advisors LLC raised its position in shares of General Dynamics by 0.5% in the third quarter. Verdence Capital Advisors LLC now owns 8,450 shares of the aerospace company's stock valued at $2,554,000 after purchasing an additional 40 shares during the period. 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.