General Dynamics (NYSE:GD) Downgraded by Wolfe Research to “Peer Perform”

Wolfe Research cut shares of General Dynamics (NYSE:GD) from an outperform rating to a peer perform rating in a report issued on Wednesday morning, Marketbeat Ratings reports.

GD has been the topic of several other reports. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Susquehanna upped their price target on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Finally, Wells Fargo & Company increased their target price on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $317.38.

General Dynamics Trading Up 0.1 %

General Dynamics stock opened at $263.18 on Wednesday. General Dynamics has a 1 year low of $247.36 and a 1 year high of $316.90. The firm’s 50-day moving average is $291.83 and its 200-day moving average is $293.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The company has a market cap of $72.37 billion, a P/E ratio of 20.04, a PEG ratio of 1.63 and a beta of 0.59.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter in the prior year, the business earned $3.04 earnings per share. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities analysts expect that General Dynamics will post 13.87 earnings per share for the current year.

General Dynamics announced that its board has authorized a stock repurchase plan on Wednesday, December 4th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

General Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s payout ratio is 43.26%.

Insider Transactions at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the transaction, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter A. Wall sold 1,320 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now owns 3,592 shares in the company, valued at $1,106,515.60. The trade was a 26.87 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by insiders.

Institutional Trading of General Dynamics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC raised its position in shares of General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 58 shares during the period. Hara Capital LLC bought a new stake in General Dynamics in the third quarter valued at approximately $26,000. American Capital Advisory LLC acquired a new stake in General Dynamics in the second quarter worth $29,000. Lowe Wealth Advisors LLC bought a new position in shares of General Dynamics during the third quarter worth $30,000. Finally, Atlantic Edge Private Wealth Management LLC grew its holdings in shares of General Dynamics by 120.0% in the 2nd quarter. Atlantic Edge Private Wealth Management LLC now owns 110 shares of the aerospace company’s stock valued at $32,000 after buying an additional 60 shares during the period. 86.14% of the stock is 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.