General Dynamics (GD) Downgraded by J P Morgan Chase & Co to Underweight
J P Morgan Chase & Co cut shares of General Dynamics (NYSE:GD) from a neutral rating to an underweight rating in a research report sent to investors on Tuesday morning. The firm currently has $215.00 target price on the aerospace company’s stock, down from their prior target price of $225.00.
Several other equities research analysts have also issued reports on the stock. Credit Suisse Group reissued an outperform rating and issued a $238.00 price target (up previously from $216.00) on shares of General Dynamics in a report on Thursday, October 26th. ValuEngine raised shares of General Dynamics from a hold rating to a buy rating in a report on Friday, September 1st. Stifel Nicolaus boosted their price target on shares of General Dynamics from $200.00 to $210.00 and gave the company a hold rating in a report on Thursday, October 26th. Zacks Investment Research lowered shares of General Dynamics from a buy rating to a hold rating in a report on Monday, October 16th. Finally, Royal Bank of Canada set a $239.00 price target on shares of General Dynamics and gave the company a buy rating in a report on Wednesday, November 15th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $218.24.
General Dynamics (GD) traded down $3.46 during trading hours on Tuesday, reaching $196.18. 1,960,900 shares of the company traded hands, compared to its average volume of 1,152,645. The firm has a market cap of $59,609.09, a PE ratio of 19.83, a P/E/G ratio of 2.39 and a beta of 0.72. General Dynamics has a 1 year low of $171.65 and a 1 year high of $214.81. The company has a current ratio of 1.37, a quick ratio of 0.93 and a debt-to-equity ratio of 0.34.
General Dynamics (NYSE:GD) last released its earnings results on Wednesday, October 25th. The aerospace company reported $2.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.43 by $0.09. The firm had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $7.94 billion. General Dynamics had a net margin of 9.94% and a return on equity of 27.98%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.36 EPS. research analysts forecast that General Dynamics will post 9.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 19th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, January 18th. General Dynamics’s payout ratio is 33.50%.
In other General Dynamics news, insider John Patrick Casey sold 34,945 shares of the stock in a transaction dated 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 sale, the insider now owns 144,378 shares of the company’s stock, valued at approximately $29,074,841.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the stock in a transaction dated 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. 6.70% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. Quadrant Capital Group LLC lifted its position in General Dynamics by 6.1% during 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 position in General Dynamics by 9.3% during 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. Captrust Financial Advisors acquired a new position in General Dynamics during the 2nd quarter valued at about $129,000. WFG Advisors LP lifted its position in General Dynamics by 0.3% during 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. Finally, Fieldpoint Private Securities LLC acquired a new position in General Dynamics during the 3rd quarter valued at about $148,000. 86.87% of the stock is currently owned by hedge funds and other institutional investors.
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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