Deutsche Bank Aktiengesellschaft Lowers General Dynamics (NYSE:GD) Price Target to $295.00

General Dynamics (NYSE:GD) had its price objective cut by Deutsche Bank Aktiengesellschaft from $303.00 to $295.00 in a research note published on Thursday morning,Benzinga reports. They currently have a hold rating on the aerospace company’s stock.

A number of other brokerages have also issued reports on GD. Citigroup boosted their price target on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada lowered General Dynamics from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $330.00 to $290.00 in a research report on Thursday, December 19th. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Sanford C. Bernstein reduced their price target 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, Susquehanna boosted their price target on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.19.

General Dynamics Trading Up 0.9 %

NYSE:GD opened at $263.37 on Thursday. General Dynamics has a 12-month low of $247.36 and a 12-month high of $316.90. The firm has a market capitalization of $72.42 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.62 and a beta of 0.59. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The business has a 50 day simple moving average of $280.38 and a 200 day simple moving average of $290.41.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the prior year, the firm earned $3.04 EPS. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. Equities research analysts predict that General Dynamics will post 13.84 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Friday, January 17th. General Dynamics’s dividend payout ratio (DPR) is presently 43.26%.

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

Insider Transactions at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the transaction, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GD. Fifth Third Wealth Advisors LLC grew its stake in General Dynamics by 67.6% in the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock valued at $2,583,000 after purchasing an additional 3,448 shares in the last quarter. Olstein Capital Management L.P. grew its stake in General Dynamics by 36.4% in the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after purchasing an additional 4,000 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in General Dynamics by 10.0% in the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after purchasing an additional 3,363 shares in the last quarter. Lummis Asset Management LP grew its stake in General Dynamics by 32.6% in the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock valued at $3,133,000 after purchasing an additional 2,551 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in General Dynamics by 17.5% in the third quarter. Principal Financial Group Inc. now owns 297,577 shares of the aerospace company’s stock valued at $89,928,000 after purchasing an additional 44,387 shares in the last quarter. Hedge funds and other 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.