TD Cowen Cuts General Dynamics (NYSE:GD) Price Target to $295.00

General Dynamics (NYSE:GD) had its price objective cut by TD Cowen from $315.00 to $295.00 in a report released on Tuesday.

Several other equities analysts also recently commented on GD. Wolfe Research downgraded shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a report on Wednesday, December 11th. Sanford C. Bernstein decreased 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 report on Thursday, October 24th. Baird R W downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Vertical Research downgraded shares of General Dynamics from a “buy” rating to a “hold” rating and decreased their price target for the company from $352.00 to $290.00 in a research note on Monday, January 6th. Finally, Robert W. Baird restated a “neutral” rating and issued a $283.00 price target (down from $345.00) on shares of General Dynamics in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $301.24.

General Dynamics Stock Performance

NYSE GD opened at $256.93 on Tuesday. 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 firm’s fifty day moving average price is $268.00 and its two-hundred day moving average price is $287.23. General Dynamics has a 1 year low of $247.01 and a 1 year high of $316.90. The firm has a market capitalization of $70.65 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 1.43 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. As a group, research analysts anticipate that General Dynamics will post 13.66 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 issued a $1.42 dividend. The ex-dividend date is Friday, January 17th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.21%. General Dynamics’s dividend payout ratio (DPR) is currently 43.26%.

General Dynamics declared that its board has approved a share repurchase program on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the firm’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 in the company, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.52% of the company’s stock.

Institutional Trading of General Dynamics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Coston McIsaac & Partners increased its position in General Dynamics by 22.8% during 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 during the period. Global X Japan Co. Ltd. increased its position in General Dynamics by 2.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock valued at $448,000 after purchasing an additional 33 shares during the period. Grove Bank & Trust increased its position in 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 purchasing an additional 34 shares during the period. Trueblood Wealth Management LLC increased its position in 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 purchasing an additional 34 shares during the period. Finally, Jeppson Wealth Management LLC increased 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 valued at $289,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds 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.