The Goldman Sachs Group Lowers General Dynamics (NYSE:GD) Price Target to $241.00

General Dynamics (NYSE:GD) had its price objective decreased by The Goldman Sachs Group from $245.00 to $241.00 in a research report report published on Tuesday. The Goldman Sachs Group currently has a sell rating on the aerospace company’s stock.

Other analysts have also recently issued reports about the stock. Citigroup raised their price target on shares of General Dynamics from $354.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Sanford C. Bernstein reduced their price objective on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Finally, UBS Group dropped their target price on General Dynamics from $337.00 to $281.00 and set a “neutral” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, General Dynamics presently has an average rating of “Hold” and a consensus price target of $303.28.

General Dynamics Stock Down 2.8 %

Shares of General Dynamics stock opened at $262.33 on Tuesday. General Dynamics has a 1 year low of $257.26 and a 1 year high of $316.90. The company has a market cap of $72.13 billion, a P/E ratio of 19.98, a P/E/G ratio of 1.43 and a beta of 0.61. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average price of $268.94 and a 200 day moving average price of $287.64.

General Dynamics Dividend Announcement

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 paid a $1.42 dividend. The ex-dividend date of this dividend 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 presently 43.26%.

General Dynamics announced that its Board of Directors has authorized a stock repurchase 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 an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the sale, 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 document filed with the SEC, which is available at the SEC website. Insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in General Dynamics by 0.8% in 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 acquiring an additional 109,618 shares in the last quarter. State Street Corp raised its stake in shares of General Dynamics by 9.4% in 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 purchasing an additional 943,247 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in General Dynamics by 2.5% in 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% in 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 buying an additional 638,342 shares during the period. Finally, FMR LLC raised its stake in shares of General Dynamics by 0.5% in the 3rd quarter. FMR LLC now owns 4,940,537 shares of the aerospace company’s stock valued at $1,493,030,000 after buying an additional 24,464 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

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.