Wells Fargo Sticks to Their Buy Rating for General Dynamics (GD)

In a report released today, Matthew Akers from Wells Fargo maintained a Buy rating on General Dynamics (GD – Research Report), with a price target of $322.00. The company’s shares closed yesterday at $291.69.

Akers covers the Industrials sector, focusing on stocks such as General Electric, Raytheon Technologies, and Hexcel. According to TipRanks, Akers has an average return of 21.7% and an 83.33% success rate on recommended stocks.

General Dynamics has an analyst consensus of Moderate Buy, with a price target consensus of $301.35, a 3.31% upside from current levels. In a report released on April 1, Wolfe Research also maintained a Buy rating on the stock with a $325.00 price target.

Based on General Dynamics’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $11.67 billion and a net profit of $1.01 billion. In comparison, last year the company earned a revenue of $10.85 billion and had a net profit of $992 million

Based on the recent corporate insider activity of 110 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GD in relation to earlier this year. Most recently, in January 2024, Mark Roualet, the EVP of GD sold 73,330.00 shares for a total of $19,413,782.82.

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General Dynamics (GD) Company Description:

Virginia-based General Dynamics Corp. is an aerospace and defense company. The company provides the world’s most technologically advanced business jets, wheeled combat vehicles, command and control systems and nuclear submarines. It operates through five business groups: Aerospace, Combat Systems, Information Technology, Mission Systems and Marine Systems.