Sanford C. Bernstein Cuts General Dynamics (NYSE:GD) Price Target to $331.00

General Dynamics (NYSE:GD) had its target price cut by research analysts at Sanford C. Bernstein from $343.00 to $331.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the aerospace company’s stock. Sanford C. Bernstein’s target price would suggest a potential upside of 9.53% from the company’s previous close.

Several other research analysts also recently commented on GD. Robert W. Baird reissued an “outperform” rating and issued a $345.00 target price on shares of General Dynamics in a report on Tuesday, July 2nd. Citigroup upped their price objective on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barclays upped their price objective on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Susquehanna increased their price target on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Finally, BTIG Research began coverage on shares of General Dynamics in a research report on Wednesday, June 26th. They issued a “buy” rating and a $345.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $322.76.

General Dynamics Price Performance

Shares of GD traded down $2.20 on Thursday, hitting $302.20. The company’s stock had a trading volume of 451,061 shares, compared to its average volume of 1,089,941. The company has a market capitalization of $82.91 billion, a PE ratio of 24.70, a PEG ratio of 1.67 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.33 and a quick ratio of 0.80. General Dynamics has a fifty-two week low of $236.58 and a fifty-two week high of $313.11. The company has a 50 day moving average price of $300.17 and a 200 day moving average price of $294.55.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). The business had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.04 earnings per share. On average, research analysts anticipate that General Dynamics will post 14.38 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On General Dynamics

Several hedge funds have recently bought and sold shares of GD. Brookstone Capital Management lifted its stake in General Dynamics by 3.1% in the 1st quarter. Brookstone Capital Management now owns 21,368 shares of the aerospace company’s stock valued at $6,036,000 after purchasing an additional 651 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its position in General Dynamics by 114.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 3,032 shares of the aerospace company’s stock worth $857,000 after acquiring an additional 1,620 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in General Dynamics by 2.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 147,736 shares of the aerospace company’s stock worth $41,734,000 after acquiring an additional 3,531 shares during the last quarter. Cypress Wealth Services LLC acquired a new stake in General Dynamics during the first quarter worth approximately $243,000. Finally, Courier Capital LLC lifted its position in General Dynamics by 22.6% during the first quarter. Courier Capital LLC now owns 7,844 shares of the aerospace company’s stock worth $2,216,000 after acquiring an additional 1,447 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

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.