General Dynamics (NYSE:GD) Downgraded to “Hold” at Seaport Res Ptn

General Dynamics (NYSE:GD) was downgraded by equities researchers at Seaport Res Ptn from a “strong-buy” rating to a “hold” rating in a research report issued on Friday, Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $293.00 to $345.00 in a research report on Friday, August 9th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada restated an “outperform” rating and set a $320.00 price objective on shares of General Dynamics in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Finally, Citigroup boosted their price target on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $319.06.

General Dynamics Trading Up 1.6 %

Shares of General Dynamics stock opened at $299.44 on Friday. The business has a fifty day simple moving average of $297.70 and a 200-day simple moving average of $293.62. The firm has a market cap of $82.28 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 1.67 and a beta of 0.61. General Dynamics has a fifty-two week low of $232.29 and a fifty-two week high of $309.97. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing the consensus estimate of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The business had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter last year, the business posted $2.70 EPS. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities analysts forecast that General Dynamics will post 14.38 EPS for the current fiscal year.

Insider Buying and Selling at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.52% of the company’s stock.

Hedge Funds Weigh In On General Dynamics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GD. Creative Planning grew its stake in General Dynamics by 4.2% in the 3rd quarter. Creative Planning now owns 46,948 shares of the aerospace company’s stock valued at $14,188,000 after buying an additional 1,906 shares during the last quarter. Grove Bank & Trust boosted its holdings in General Dynamics by 10.6% during the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock valued at $107,000 after acquiring an additional 34 shares during the period. Boston Mountain Money Management Inc. grew its position in shares of General Dynamics by 17.3% in the third quarter. Boston Mountain Money Management Inc. now owns 1,384 shares of the aerospace company’s stock valued at $418,000 after purchasing an additional 204 shares during the last quarter. Affinity Wealth Management LLC lifted its position in shares of General Dynamics by 18.1% during the 3rd quarter. Affinity Wealth Management LLC now owns 856 shares of the aerospace company’s stock worth $259,000 after purchasing an additional 131 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in General Dynamics during the 3rd quarter valued at approximately $702,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

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.