General Dynamics (NYSE:GD) Stock Rating Lowered by Goldman Sachs Group

Goldman Sachs Group downgraded shares of General Dynamics (NYSE:GD) from a buy rating to a sell rating in a research note released on Thursday, Benzinga reports. Goldman Sachs Group currently has $138.00 price target on the aerospace company’s stock, down from their previous price target of $205.00.

Several other research firms have also recently commented on GD. Stifel Nicolaus lowered their target price on shares of General Dynamics from $180.00 to $160.00 and set a hold rating for the company in a research note on Thursday, July 30th. ValuEngine downgraded General Dynamics from a hold rating to a sell rating in a research report on Monday, August 3rd. Jefferies Financial Group reiterated a hold rating and set a $160.00 target price on shares of General Dynamics in a research report on Tuesday, August 11th. Argus lowered General Dynamics from a buy rating to a hold rating in a research note on Monday, August 3rd. Finally, Royal Bank of Canada upped their price objective on shares of General Dynamics from $157.00 to $164.00 and gave the company an outperform rating in a research note on Thursday, July 30th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $178.47.

GD opened at $142.99 on Thursday. The firm has a market cap of $42.31 billion, a P/E ratio of 13.10, a PEG ratio of 2.57 and a beta of 1.01. The business’s fifty day simple moving average is $150.52 and its 200 day simple moving average is $144.15. General Dynamics has a 52 week low of $100.55 and a 52 week high of $190.19. The company has a quick ratio of 0.87, a current ratio of 1.27 and a debt-to-equity ratio of 0.75.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, July 29th. The aerospace company reported $2.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.15 by $0.03. The company had revenue of $9.26 billion for the quarter, compared to analyst estimates of $9.03 billion. General Dynamics had a net margin of 8.47% and a return on equity of 24.10%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.77 EPS. As a group, equities analysts expect that General Dynamics will post 11.04 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 9th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Thursday, October 8th. General Dynamics’s payout ratio is currently 36.73%.

A number of hedge funds and other institutional investors have recently made changes to their positions in GD. Seeyond boosted its position in shares of General Dynamics by 70.4% in the first quarter. Seeyond now owns 4,580 shares of the aerospace company’s stock worth $500,000 after buying an additional 1,892 shares during the period. Clarius Group LLC grew its position in General Dynamics by 6.1% in the second quarter. Clarius Group LLC now owns 1,655 shares of the aerospace company’s stock valued at $247,000 after acquiring an additional 95 shares in the last quarter. Personal CFO Solutions LLC grew its position in General Dynamics by 2.5% in the second quarter. Personal CFO Solutions LLC now owns 9,568 shares of the aerospace company’s stock valued at $1,430,000 after acquiring an additional 235 shares in the last quarter. First Mercantile Trust Co. raised its stake in shares of General Dynamics by 6.0% during the first quarter. First Mercantile Trust Co. now owns 17,901 shares of the aerospace company’s stock valued at $2,368,000 after purchasing an additional 1,018 shares during the period. Finally, Cigna Investments Inc. New lifted its position in shares of General Dynamics by 6.3% during the first quarter. Cigna Investments Inc. New now owns 6,783 shares of the aerospace company’s stock worth $897,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 84.98% of the company’s stock.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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