General Dynamics (NYSE:GD) Price Target Cut to $241.00 by Analysts at The Goldman Sachs Group

General Dynamics (NYSE:GD) had its price target cut by research analysts at The Goldman Sachs Group from $245.00 to $241.00 in a research note issued on Tuesday. The brokerage presently has a “sell” rating on the aerospace company’s stock. The Goldman Sachs Group’s price target would suggest a potential downside of 8.54% from the company’s previous close.

GD has been the subject of several other reports. Citigroup increased their price target on General Dynamics from $354.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. TD Cowen lowered their target price on shares of General Dynamics from $315.00 to $295.00 in a report on Tuesday. Barclays dropped their price target on shares of General Dynamics from $330.00 to $305.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Jefferies Financial Group restated a “hold” rating and issued a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Finally, Royal Bank of Canada cut General Dynamics from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $330.00 to $290.00 in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $303.28.

General Dynamics Stock Performance

GD traded down $6.33 on Tuesday, hitting $263.51. 719,909 shares of the company traded hands, compared to its average volume of 1,554,794. The company has a 50 day moving average of $268.94 and a 200-day moving average of $287.64. General Dynamics has a 12-month low of $257.26 and a 12-month high of $316.90. The stock has a market capitalization of $72.46 billion, a PE ratio of 20.07, a PEG ratio of 1.43 and a beta of 0.61. 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 announced that its board has initiated a share repurchase plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 20,296 shares of the company’s stock, valued at $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Global X Japan Co. Ltd. grew its position in General Dynamics by 2.3% during the third quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock valued at $448,000 after acquiring an additional 33 shares during the period. Coston McIsaac & Partners lifted its stake in shares of General Dynamics by 22.8% in the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after purchasing an additional 33 shares in the last quarter. Grove Bank & Trust increased its position in shares of General Dynamics by 10.6% in the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after acquiring an additional 34 shares in the last quarter. Trueblood Wealth Management LLC lifted its holdings in shares of General Dynamics by 1.6% during the 3rd quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock valued at $672,000 after acquiring an additional 34 shares in the last quarter. Finally, Jeppson Wealth Management LLC boosted its position in General Dynamics by 3.8% during the 3rd quarter. Jeppson Wealth Management LLC now owns 955 shares of the aerospace company’s stock worth $289,000 after purchasing an additional 35 shares during the period. 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.