General Dynamics (NYSE:GD) Lowered to Neutral Rating by BTIG Research

General Dynamics (NYSE:GD) was downgraded by BTIG Research from a “buy” rating to a “neutral” rating in a report released on Thursday, Marketbeat.com reports.

Several other analysts also recently weighed in on GD. Robert W. Baird reissued a “neutral” rating and issued a $283.00 target price (down from $345.00) on shares of General Dynamics in a report on Tuesday, January 14th. Wells Fargo & Company reduced their price objective on General Dynamics from $279.00 to $276.00 and set an “equal weight” rating for the company in a research note on Thursday, January 30th. Royal Bank of Canada reduced their price objective on General Dynamics from $290.00 to $280.00 and set a “sector perform” rating for the company in a research note on Thursday, January 30th. TD Cowen reduced their price objective on General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. Finally, Vertical Research downgraded General Dynamics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $352.00 to $290.00 in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, General Dynamics presently has an average rating of “Hold” and a consensus target price of $298.59.

General Dynamics Stock Down 1.7 %

Shares of NYSE GD opened at $241.98 on Thursday. General Dynamics has a 1 year low of $239.87 and a 1 year high of $316.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The company has a market capitalization of $66.54 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 1.61 and a beta of 0.61. The business has a 50-day moving average of $262.55 and a two-hundred day moving average of $284.58.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share 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 17.10%. On average, analysts forecast that General Dynamics will post 14.84 earnings per share for the current fiscal year.

General Dynamics announced that its board has authorized a share repurchase program on Wednesday, December 4th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the sale, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Laura J. Schumacher sold 1,796 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the sale, the director now owns 11,175 shares in the company, valued at approximately $2,857,224. This trade represents a 13.85 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

Large investors have recently bought and sold shares of the stock. MFA Wealth Advisors LLC grew its holdings in General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after buying an additional 58 shares during the last quarter. Hara Capital LLC acquired a new stake in General Dynamics during the 3rd quarter valued at $26,000. Financial Life Planners acquired a new stake in General Dynamics during the 4th quarter valued at $25,000. Whipplewood Advisors LLC acquired a new stake in General Dynamics during the 4th quarter valued at $26,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in General Dynamics during the 4th quarter valued at $26,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

About General Dynamics

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.