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

StockNews.com cut shares of General Dynamics (NYSE:GD) from a strong-buy rating to a buy rating in a report released on Friday.

GD has been the subject of a number of other research reports. Argus boosted their price objective on shares of General Dynamics from $290.00 to $310.00 and gave the company a buy rating in a research report on Monday, April 29th. Wells Fargo & Company upped their target price on General Dynamics from $291.00 to $322.00 and gave the company an overweight rating in a report on Thursday, April 4th. Royal Bank of Canada dropped their price target on General Dynamics from $325.00 to $320.00 and set an outperform rating on the stock in a research report on Thursday, April 25th. Citigroup boosted their price objective on General Dynamics from $300.00 to $320.00 and gave the company a buy rating in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group increased their target price on General Dynamics from $253.00 to $284.00 and gave the stock a neutral rating in a research report on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $300.53.

General Dynamics Trading Up 1.1 %

NYSE:GD opened at $291.37 on Friday. The company has a market cap of $79.94 billion, a PE ratio of 23.77, a P/E/G ratio of 1.80 and a beta of 0.67. The business’s 50 day moving average is $282.84 and its two-hundred day moving average is $264.06. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.41. General Dynamics has a 52 week low of $202.35 and a 52 week high of $296.50.

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

General Dynamics Increases Dividend

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

Insider Activity at General Dynamics

In related news, CEO Phebe N. Novakovic sold 49,850 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $284.50, for a total transaction of $14,182,325.00. Following the transaction, the chief executive officer now owns 768,977 shares in the company, valued at $218,773,956.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Gregory S. Gallopoulos sold 13,567 shares of General Dynamics stock in a transaction dated Monday, April 29th. The stock was 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 of the company’s stock, valued at $29,816,065.95. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Phebe N. Novakovic sold 49,850 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were 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 of the company’s stock, valued at $218,773,956.50. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Institutional Trading of General Dynamics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of General Dynamics in the fourth quarter worth about $728,284,000. Wellington Management Group LLP lifted its position in shares of General Dynamics by 12.0% in the 3rd quarter. Wellington Management Group LLP now owns 16,360,526 shares of the aerospace company’s stock valued at $3,615,185,000 after acquiring an additional 1,755,276 shares in the last quarter. International Assets Investment Management LLC boosted its stake in General Dynamics by 10,763.2% in the 4th quarter. International Assets Investment Management LLC now owns 923,593 shares of the aerospace company’s stock worth $239,829,000 after purchasing an additional 915,091 shares during the period. Verity & Verity LLC purchased a new position in General Dynamics during the 1st quarter worth approximately $179,000. Finally, 1832 Asset Management L.P. raised its stake in General Dynamics by 3,645.4% during the 4th quarter. 1832 Asset Management L.P. now owns 558,586 shares of the aerospace company’s stock valued at $145,048,000 after purchasing an additional 543,672 shares during the period. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Company Profile

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.