TD Cowen Issues Pessimistic Forecast for General Dynamics (NYSE:GD) Stock Price

General Dynamics (NYSE:GD) had its price target dropped by analysts at TD Cowen from $315.00 to $295.00 in a note issued to investors on Tuesday. TD Cowen’s price objective indicates a potential upside of 11.95% from the company’s current price.

A number of other research analysts have also weighed in on the company. Citigroup raised their price objective on General Dynamics from $354.00 to $360.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Susquehanna reduced their price objective on General Dynamics from $330.00 to $315.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. The Goldman Sachs Group downgraded General Dynamics from a “neutral” rating to a “sell” rating and cut their price objective for the company from $283.00 to $245.00 in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft cut their target price on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Finally, Baird R W downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, General Dynamics currently has an average rating of “Hold” and a consensus target price of $303.28.

General Dynamics Trading Down 2.3 %

Shares of GD stock traded down $6.33 during trading hours on Tuesday, reaching $263.51. The company’s stock had a trading volume of 719,909 shares, compared to its average volume of 1,554,794. The firm’s fifty day simple moving average is $268.94 and its 200 day simple moving average is $287.64. General Dynamics has a one year low of $257.26 and a one year high of $316.90. 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 market capitalization of $72.46 billion, a P/E ratio of 20.07, a P/E/G ratio of 1.43 and a beta of 0.61.

General Dynamics declared that its board has approved a stock buyback plan on Wednesday, December 4th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the aerospace company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Creative Planning increased its holdings in shares of General Dynamics by 4.6% in the second quarter. Creative Planning now owns 45,042 shares of the aerospace company’s stock valued at $13,068,000 after purchasing an additional 1,988 shares during the period. NewEdge Advisors LLC lifted its stake in shares of General Dynamics by 19.5% in the 2nd quarter. NewEdge Advisors LLC now owns 38,038 shares of the aerospace company’s stock worth $11,036,000 after acquiring an additional 6,205 shares during the period. Quarry LP boosted its holdings in shares of General Dynamics by 85.0% in the second quarter. Quarry LP now owns 283 shares of the aerospace company’s stock valued at $82,000 after acquiring an additional 130 shares in the last quarter. Kimelman & Baird LLC acquired a new position in shares of General Dynamics during the second quarter worth about $290,000. Finally, EP Wealth Advisors LLC lifted its position in General Dynamics by 36.2% in the second quarter. EP Wealth Advisors LLC now owns 17,740 shares of the aerospace company’s stock valued at $5,147,000 after purchasing an additional 4,711 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.