Royal Bank of Canada Lowers General Dynamics (NYSE:GD) Price Target to $280.00

General Dynamics (NYSE:GD) had its price target reduced by research analysts at Royal Bank of Canada from $290.00 to $280.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the aerospace company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 9.62% from the company’s current price.

Several other research analysts have also commented on the company. Vertical Research lowered General Dynamics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $352.00 to $290.00 in a research report on Monday, January 6th. Sanford C. Bernstein cut their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Susquehanna cut their price target on shares of General Dynamics from $315.00 to $300.00 and set a “positive” rating on the stock in a report on Thursday. Citigroup boosted their target price on General Dynamics from $354.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, TD Cowen decreased their price target on General Dynamics from $315.00 to $295.00 in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eleven have issued 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 has an average rating of “Hold” and a consensus target price of $301.24.

General Dynamics Trading Up 1.6 %

Shares of NYSE GD traded up $3.99 during midday trading on Thursday, hitting $255.44. 560,443 shares of the company traded hands, compared to its average volume of 1,675,880. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. General Dynamics has a 12-month low of $247.01 and a 12-month high of $316.90. The firm has a market cap of $70.24 billion, a P/E ratio of 19.46, a P/E/G ratio of 1.43 and a beta of 0.61. The stock has a 50-day moving average price of $268.00 and a 200 day moving average price of $287.23.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. As a group, analysts expect that General Dynamics will post 13.66 earnings per share for the current year.

General Dynamics announced that its board has authorized a share buyback plan on Wednesday, December 4th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the business’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 transaction, the vice president now directly owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.52% of the company’s stock.

Institutional Trading of General Dynamics

Several institutional investors and hedge funds have recently modified their holdings of the business. Coston McIsaac & Partners lifted its stake in shares of General Dynamics by 22.8% during the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after buying an additional 33 shares during the period. Global X Japan Co. Ltd. lifted 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 worth $448,000 after buying an additional 33 shares during the period. Grove Bank & Trust increased its stake in shares of General Dynamics by 10.6% during the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock valued at $107,000 after acquiring an additional 34 shares during the last quarter. Trueblood Wealth Management LLC grew its holdings in General Dynamics by 1.6% in the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock valued at $672,000 after purchasing an additional 34 shares during the period. Finally, Jeppson Wealth Management LLC raised its stake in General Dynamics by 3.8% during the third 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. Hedge funds and other institutional investors own 86.14% of the company’s stock.

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.