JPMorgan Chase & Co. Has Lowered Expectations for General Dynamics (NYSE:GD) Stock Price

General Dynamics (NYSE:GD) had its price objective lowered by JPMorgan Chase & Co. from $307.00 to $284.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the aerospace company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 10.43% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Vertical Research downgraded shares of General Dynamics from a “buy” rating to a “hold” rating and dropped their price target for the company from $352.00 to $290.00 in a research note on Monday, January 6th. Susquehanna decreased their price objective on shares of General Dynamics from $315.00 to $300.00 and set a “positive” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a research report on Thursday, January 2nd. Citigroup increased their price objective on shares of General Dynamics from $354.00 to $360.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Finally, UBS Group decreased their price objective on shares of General Dynamics from $337.00 to $281.00 and set a “neutral” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, General Dynamics currently has an average rating of “Hold” and an average price target of $301.24.

General Dynamics Price Performance

Shares of NYSE:GD opened at $257.17 on Thursday. The firm has a 50 day simple moving average of $267.54 and a 200 day simple moving average of $287.02. The company has a market cap of $70.71 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 1.34 and a beta of 0.61. General Dynamics has a one year low of $247.01 and a one year high of $316.90. 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 (NYSE:GD) last released 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 net margin of 7.93% and a return on equity of 17.08%. Research analysts predict that General Dynamics will post 15.92 earnings per share for the current fiscal year.

General Dynamics declared that its Board of Directors has initiated a share repurchase plan on Wednesday, December 4th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the transaction, the vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Global Retirement Partners LLC lifted its position in shares of General Dynamics by 14.9% during the fourth quarter. Global Retirement Partners LLC now owns 2,125 shares of the aerospace company’s stock valued at $560,000 after purchasing an additional 276 shares in the last quarter. Atlas Legacy Advisors LLC bought a new stake in General Dynamics in the fourth quarter worth about $550,000. Bank of Jackson Hole Trust bought a new stake in General Dynamics in the fourth quarter worth about $916,000. Mcdonald Partners LLC raised its position in General Dynamics by 6.8% in the fourth quarter. Mcdonald Partners LLC now owns 5,542 shares of the aerospace company’s stock worth $1,460,000 after acquiring an additional 351 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its position in General Dynamics by 55.2% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 11,849 shares of the aerospace company’s stock worth $3,122,000 after acquiring an additional 4,214 shares during the period. 86.14% of the stock is owned by institutional investors.

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.