General Dynamics (NYSE:GD) Price Target Cut to $160.00

General Dynamics (NYSE:GD) had its price target decreased by stock analysts at Stifel Nicolaus from $180.00 to $160.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The firm currently has a “hold” rating on the aerospace company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 9.04% from the company’s previous close.

Several other research analysts have also weighed in on GD. UBS Group dropped their price target on General Dynamics from $190.00 to $171.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Seaport Global Securities assumed coverage on General Dynamics in a report on Tuesday, May 19th. They issued a “buy” rating and a $188.00 target price on the stock. Susquehanna Bancshares raised their price target on shares of General Dynamics from $167.00 to $184.00 and gave the stock a “positive” rating in a report on Thursday, June 4th. ValuEngine upgraded shares of General Dynamics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Finally, TheStreet lowered shares of General Dynamics from a “b-” rating to a “c+” rating in a research note on Thursday, July 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $183.57.

GD stock opened at $146.74 on Thursday. General Dynamics has a one year low of $100.55 and a one year high of $193.76. The firm has a 50-day moving average of $148.68 and a two-hundred day moving average of $151.85. The firm has a market capitalization of $42.09 billion, a PE ratio of 13.03, a P/E/G ratio of 2.50 and a beta of 1.05. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 0.75.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 29th. The aerospace company reported $2.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.15 by $0.03. General Dynamics had a net margin of 8.47% and a return on equity of 24.10%. The business had revenue of $9.26 billion during the quarter, compared to the consensus estimate of $9.03 billion. During the same quarter in the prior year, the firm earned $2.77 EPS. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. On average, equities research analysts anticipate that General Dynamics will post 11.1 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in GD. Comerica Bank increased its holdings in General Dynamics by 31.3% in the 2nd quarter. Comerica Bank now owns 66,665 shares of the aerospace company’s stock valued at $10,101,000 after buying an additional 15,886 shares during the period. Valmark Advisers Inc. acquired a new stake in shares of General Dynamics during the second quarter worth approximately $223,000. Jaffetilchin Investment Partners LLC bought a new position in General Dynamics in the 2nd quarter valued at $43,000. Lincoln National Corp raised its holdings in shares of General Dynamics by 11.3% in the second quarter. Lincoln National Corp now owns 6,038 shares of the aerospace company’s stock valued at $902,000 after buying an additional 612 shares during the last quarter. Finally, QCI Asset Management Inc. NY raised its stake in shares of General Dynamics by 7.8% in the second quarter. QCI Asset Management Inc. NY now owns 104,999 shares of the aerospace company’s stock worth $15,693,000 after acquiring an additional 7,636 shares during the last quarter. Hedge funds and other institutional investors own 85.57% of the company’s stock.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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