General Dynamics (NYSE:GD) Downgraded to Buy at StockNews.com

StockNews.com lowered shares of General Dynamics (NYSE:GD) from a strong-buy rating to a buy rating in a research note released on Friday morning.

A number of other brokerages have also issued reports on GD. Citigroup increased their price target on General Dynamics from $300.00 to $320.00 and gave the stock a buy rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. lifted their target price on General Dynamics from $280.00 to $298.00 and gave the company an overweight rating in a research note on Thursday, April 25th. Royal Bank of Canada dropped their price target on General Dynamics from $325.00 to $320.00 and set an outperform rating for the company in a research note on Thursday, April 25th. UBS Group lifted their price objective on shares of General Dynamics from $286.00 to $296.00 and gave the company a neutral rating in a research report on Monday, January 29th. Finally, Barclays upped their target price on shares of General Dynamics from $285.00 to $310.00 and gave the stock an overweight rating in a research report on Monday, April 15th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, General Dynamics has a consensus rating of Moderate Buy and a consensus price target of $300.53.

General Dynamics Price Performance

NYSE GD opened at $291.37 on Friday. The stock has a market capitalization of $79.94 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 1.80 and a beta of 0.67. General Dynamics has a 1-year low of $202.35 and a 1-year high of $296.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 0.87. The business’s fifty day moving average price is $282.84 and its 200-day moving average price is $264.06.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, April 24th. The aerospace company reported $2.88 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($0.01). The business had revenue of $10.73 billion during the quarter, compared to the consensus estimate of $10.26 billion. General Dynamics had a return on equity of 16.48% and a net margin of 7.85%. General Dynamics’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $2.64 EPS. On average, equities analysts predict that General Dynamics will post 14.55 earnings per share for the current year.

General Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 12th will be paid a $1.42 dividend. The ex-dividend date is Thursday, April 11th. This represents a $5.68 annualized dividend and a yield of 1.95%. This is a boost from General Dynamics’s previous quarterly dividend of $1.32. General Dynamics’s dividend payout ratio is 46.33%.

Insider Transactions at General Dynamics

In other General Dynamics news, VP Gregory S. Gallopoulos sold 13,567 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total transaction of $3,914,215.17. Following the transaction, the vice president now directly owns 103,345 shares in the company, valued at approximately $29,816,065.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the completion of the sale, the chief executive officer now directly owns 768,977 shares in the company, valued at approximately $218,773,956.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $288.51, for a total value of $3,914,215.17. Following the completion of the transaction, the vice president now owns 103,345 shares in the company, valued at approximately $29,816,065.95. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On General Dynamics

Several institutional investors and hedge funds have recently bought and sold shares of GD. MeadowBrook Investment Advisors LLC acquired a new stake in General Dynamics in the 4th quarter worth approximately $25,000. Richardson Financial Services Inc. purchased a new position in shares of General Dynamics in the fourth quarter worth $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of General Dynamics during the first quarter worth $25,000. Briaud Financial Planning Inc purchased a new stake in shares of General Dynamics during the third quarter valued at $27,000. Finally, Financial Synergies Wealth Advisors Inc. acquired a new position in shares of General Dynamics in the 1st quarter valued at $29,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

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.