General Dynamics (NYSE:GD) Cut to “Hold” at Vertical Research

General Dynamics (NYSE:GD) was downgraded by Vertical Research from a “buy” rating to a “hold” rating in a research report issued on Monday,Briefing.com Automated Import reports. They currently have a $290.00 price objective on the aerospace company’s stock, down from their previous price objective of $352.00. Vertical Research’s target price would suggest a potential upside of 10.11% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. The Goldman Sachs Group cut General Dynamics from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $283.00 to $245.00 in a report on Thursday, December 12th. Jefferies Financial Group reiterated a “hold” rating and set a $300.00 price objective (down from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. Sanford C. Bernstein dropped their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Wolfe Research lowered shares of General Dynamics from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada cut General Dynamics from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $330.00 to $290.00 in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $312.76.

General Dynamics Stock Up 0.9 %

GD opened at $263.37 on Monday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The stock has a fifty day moving average of $280.38 and a 200-day moving average of $290.31. General Dynamics has a fifty-two week low of $247.36 and a fifty-two week high of $316.90. The company has a market capitalization of $72.42 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.62 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same period in the prior year, the firm earned $3.04 EPS. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities analysts expect that General Dynamics will post 13.84 EPS for the current year.

General Dynamics announced that its board has authorized 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 usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other General Dynamics 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 transaction of $1,556,241.40. Following the completion of the transaction, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On General Dynamics

Large investors have recently modified their holdings of the company. International Assets Investment Management LLC grew its holdings in General Dynamics by 40,389.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after acquiring an additional 1,376,065 shares during the period. State Street Corp grew its stake in General Dynamics by 9.4% during the third quarter. State Street Corp now owns 10,945,110 shares of the aerospace company’s stock worth $3,307,612,000 after purchasing an additional 943,247 shares during the period. Geode Capital Management LLC increased its holdings in General Dynamics by 13.0% in the third quarter. Geode Capital Management LLC now owns 5,557,404 shares of the aerospace company’s stock worth $1,674,998,000 after purchasing an additional 638,342 shares in the last quarter. Two Sigma Advisers LP lifted its stake in General Dynamics by 117.0% in the third quarter. Two Sigma Advisers LP now owns 858,600 shares of the aerospace company’s stock valued at $259,469,000 after buying an additional 463,000 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in shares of General Dynamics by 2,189.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock worth $108,572,000 after buying an additional 357,861 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

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.