General Dynamics (NYSE:GD) was downgraded by research analysts at J P Morgan Chase & Co from a “neutral” rating to an “underweight” rating in a report issued on Tuesday, MarketBeat.com reports. They currently have a $215.00 price objective on the aerospace company’s stock, down from their previous price objective of $225.00. J P Morgan Chase & Co’s price target would indicate a potential upside of 8.13% from the stock’s previous close.
A number of other analysts have also issued reports on GD. ValuEngine lowered shares of General Dynamics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Deutsche Bank reiterated a “hold” rating and set a $210.00 price target (up from $200.00) on shares of General Dynamics in a research note on Monday, October 2nd. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $238.00 price target on the stock in a research note on Thursday, October 26th. Cowen reiterated a “buy” rating and set a $230.00 price target on shares of General Dynamics in a research note on Thursday, October 19th. Finally, Citigroup reiterated a “neutral” rating and set a $215.00 price target (up from $210.00) on shares of General Dynamics in a research note on Monday, October 9th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $218.24.
Shares of General Dynamics (NYSE:GD) traded up $2.62 on Tuesday, reaching $198.84. 1,691,110 shares of the company traded hands, compared to its average volume of 1,124,808. The stock has a market cap of $59,377.41, a price-to-earnings ratio of 19.75, a P/E/G ratio of 2.38 and a beta of 0.72. General Dynamics has a 12-month low of $171.65 and a 12-month high of $214.81. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.93 and a current ratio of 1.37.
General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.43 by $0.09. The company had revenue of $7.58 billion for the quarter, compared to analyst estimates of $7.94 billion. General Dynamics had a net margin of 9.94% and a return on equity of 27.98%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.36 earnings per share. research analysts anticipate that General Dynamics will post 9.81 earnings per share for the current year.
In related news, insider John Patrick Casey sold 34,945 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total value of $7,037,224.10. Following the completion of the transaction, the insider now directly owns 144,378 shares of the company’s stock, valued at $29,074,841.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $202.93, for a total value of $15,903,624.10. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in GD. Quadrant Capital Group LLC boosted its holdings in General Dynamics by 6.1% in the second quarter. Quadrant Capital Group LLC now owns 645 shares of the aerospace company’s stock valued at $110,000 after purchasing an additional 37 shares in the last quarter. Vantage Investment Advisors LLC boosted its holdings in General Dynamics by 9.3% in the second quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock valued at $116,000 after purchasing an additional 50 shares in the last quarter. Captrust Financial Advisors acquired a new position in General Dynamics in the second quarter valued at approximately $129,000. WFG Advisors LP boosted its holdings in General Dynamics by 0.3% in the second quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock valued at $132,000 after purchasing an additional 2 shares in the last quarter. Finally, Fieldpoint Private Securities LLC acquired a new position in General Dynamics in the third quarter valued at approximately $148,000. 86.87% of the stock is owned by hedge funds and other institutional investors.
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About General Dynamics
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.