General Dynamics (NYSE:GD) Given New $241.00 Price Target at The Goldman Sachs Group

General Dynamics (NYSE:GD) had its price objective decreased by investment analysts at The Goldman Sachs Group from $245.00 to $241.00 in a research report issued to clients and investors on Tuesday. The brokerage currently has a “sell” rating on the aerospace company’s stock. The Goldman Sachs Group’s price objective points to a potential downside of 8.54% from the company’s current price.

A number of other brokerages have also issued reports on GD. Vertical Research lowered General Dynamics from a “buy” rating to a “hold” rating and lowered their price target for the stock from $352.00 to $290.00 in a research note on Monday, January 6th. TD Cowen lowered their target price on shares of General Dynamics from $315.00 to $295.00 in a research note on Tuesday. Wells Fargo & Company reduced their target price on shares of General Dynamics from $295.00 to $279.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. UBS Group lowered their price target on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Robert W. Baird restated a “neutral” rating and issued a $283.00 target price (down from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $303.28.

General Dynamics Price Performance

General Dynamics stock traded down $6.33 during midday trading on Tuesday, reaching $263.51. The company had a trading volume of 719,909 shares, compared to its average volume of 1,554,794. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. General Dynamics has a 12-month low of $257.26 and a 12-month high of $316.90. The company 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. The firm’s fifty day simple moving average is $268.94 and its 200-day simple moving average is $287.64.

General Dynamics declared that its board has initiated a share buyback plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

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 sale, the vice president now owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On General Dynamics

A number of large investors have recently modified their holdings of the company. Global X Japan Co. Ltd. lifted its position in General Dynamics by 2.3% in 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 last quarter. Coston McIsaac & Partners increased its position 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 worth $53,000 after purchasing an additional 33 shares in the last quarter. Grove Bank & Trust lifted its holdings in shares of General Dynamics by 10.6% in 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 last quarter. Trueblood Wealth Management LLC boosted its position in shares of General Dynamics by 1.6% in 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 grew its stake 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 buying an additional 35 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

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.