General Dynamics (GD) Rating Lowered to Hold at ValuEngine
General Dynamics (NYSE:GD) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday.
Other equities research analysts also recently issued reports about the stock. Jefferies Group restated a “buy” rating and issued a $236.00 target price on shares of General Dynamics in a research note on Thursday, October 26th. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $238.00 target price for the company in a research note on Thursday, October 26th. BidaskClub upgraded shares of General Dynamics from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Cowen restated a “buy” rating and issued a $230.00 target price on shares of General Dynamics in a research note on Thursday, October 19th. Finally, Royal Bank Of Canada set a $239.00 target price on shares of General Dynamics and gave the company a “buy” rating in a research note on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $218.45.
General Dynamics (NYSE GD) opened at $204.17 on Thursday. 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 has a one year low of $168.00 and a one year high of $214.81. The stock has a market cap of $60,730.00, a P/E ratio of 19.86, a PEG ratio of 2.40 and a beta of 0.73.
General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.09. The company had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $7.94 billion. General Dynamics had a net margin of 9.94% and a return on equity of 27.98%. General Dynamics’s revenue was down 1.0% compared to the same quarter last year. During the same period last year, the firm earned $2.36 earnings per share. analysts predict that General Dynamics will post 9.81 EPS for the current year.
In other news, insider John Patrick Casey sold 34,945 shares of General Dynamics stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total transaction of $7,037,224.10. Following the completion of the sale, the insider now directly owns 144,378 shares in the company, valued at $29,074,841.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gregory S. Gallopoulos sold 78,370 shares of General Dynamics stock in a transaction on Monday, November 6th. The stock was sold at an average price of $202.93, for a total transaction of $15,903,624.10. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.
Several large investors have recently bought and sold shares of GD. Steward Partners Investment Advisory LLC purchased a new position in shares of General Dynamics during the third quarter worth $3,884,000. Public Employees Retirement System of Ohio raised its holdings in shares of General Dynamics by 0.7% during the third quarter. Public Employees Retirement System of Ohio now owns 185,535 shares of the aerospace company’s stock worth $38,142,000 after purchasing an additional 1,293 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in shares of General Dynamics during the third quarter worth $586,000. IFM Investors Pty Ltd purchased a new position in shares of General Dynamics during the third quarter worth $1,494,000. Finally, Smith & Howard Wealth Management LLC purchased a new position in shares of General Dynamics during the third quarter worth $206,000. Institutional investors and hedge funds own 86.86% of the company’s stock.
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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.
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