General Dynamics Corporation (GD) Downgraded by Zacks Investment Research to “Hold”
General Dynamics Corporation (NYSE:GD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Being one of the only two contractors in the world equipped to build nuclear-powered submarines, General Dynamics’ diverse portfolio of products and services along with its wide customer base provides it with an opportunity to generate solid revenues from different sources. Moreover, the recently approved fiscal 2018 defense policy bill, which includes provision to spend $6 billion in Navy shipbuilding, will surely boost the company's growth trajectory. Also its Gulfstream business continues to grow on the back of solid jet sales. However, the company operates in a highly competitive market and has to rely on other companies to provide materials, components and subsystems for its products. Moreover, the company has been witnessing declining backlogs in recent times.Also it has underperformed its broader industry in past one year.”
Several other brokerages have also recently weighed in on GD. Citigroup Inc. restated a “neutral” rating and set a $215.00 target price (up from $210.00) on shares of General Dynamics Corporation in a report on Monday, October 9th. ValuEngine cut General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Deutsche Bank AG restated a “hold” rating and set a $210.00 target price (up from $200.00) on shares of General Dynamics Corporation in a report on Monday, October 2nd. BidaskClub upgraded General Dynamics Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Finally, Jefferies Group LLC restated a “buy” rating and set a $220.00 target price on shares of General Dynamics Corporation in a report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. General Dynamics Corporation currently has a consensus rating of “Hold” and a consensus price target of $209.45.
General Dynamics Corporation (NYSE:GD) traded down 0.08% during trading on Monday, hitting $213.16. The company had a trading volume of 211,260 shares. The company’s 50 day moving average price is $204.55 and its 200-day moving average price is $199.01. The stock has a market capitalization of $63.90 billion, a price-to-earnings ratio of 21.06 and a beta of 0.72. General Dynamics Corporation has a 1-year low of $148.76 and a 1-year high of $214.81.
General Dynamics Corporation (NYSE:GD) last issued its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.02. The company had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.76 billion. General Dynamics Corporation had a return on equity of 28.17% and a net margin of 9.63%. General Dynamics Corporation’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.30 EPS. On average, analysts expect that General Dynamics Corporation will post $9.81 EPS for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC lifted its stake in shares of General Dynamics Corporation by 6.1% in the 2nd 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 during the period. Vantage Investment Advisors LLC lifted its stake in shares of General Dynamics Corporation by 9.3% in the 2nd 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 during the period. Ruggie Capital Group purchased a new position in shares of General Dynamics Corporation in the 1st quarter valued at approximately $119,000. Captrust Financial Advisors purchased a new position in shares of General Dynamics Corporation in the 2nd quarter valued at approximately $129,000. Finally, WFG Advisors LP lifted its stake in shares of General Dynamics Corporation by 0.3% in the 2nd quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock valued at $132,000 after purchasing an additional 2 shares during the period. Institutional investors and hedge funds own 86.17% of the company’s stock.
About General Dynamics Corporation
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.
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