General Dynamics (NYSE:GD) Downgraded to “Sell” Rating by The Goldman Sachs Group

General Dynamics (NYSE:GD) was downgraded by research analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued on Thursday, Marketbeat Ratings reports. They presently have a $245.00 price target on the aerospace company’s stock, down from their previous price target of $283.00. The Goldman Sachs Group’s target price suggests a potential downside of 6.91% from the company’s previous close.

GD has been the topic of a number of other reports. Citigroup upped their price target on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wells Fargo & Company dropped their price target on shares of General Dynamics from $322.00 to $295.00 and set an “equal weight” rating on the stock in a report on Wednesday. Sanford C. Bernstein cut their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Wolfe Research downgraded General Dynamics from an “outperform” rating to a “peer perform” rating in a research note on Wednesday. Finally, Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $317.38.

General Dynamics Stock Up 0.1 %

NYSE:GD opened at $263.18 on Thursday. 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 firm has a market cap of $72.37 billion, a P/E ratio of 20.04, a P/E/G ratio of 1.63 and a beta of 0.59. General Dynamics has a fifty-two week low of $247.36 and a fifty-two week high of $316.90. The firm has a 50-day simple moving average of $291.83 and a two-hundred day simple moving average of $293.73.

General Dynamics (NYSE:GD) last announced its quarterly earnings results 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). The firm had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. General Dynamics’s revenue was up 10.4% on a year-over-year basis. During the same period last year, the business earned $3.04 EPS. Analysts predict that General Dynamics will post 13.87 earnings per share for the current fiscal year.

General Dynamics announced that its Board of Directors has initiated a share buyback program on Wednesday, December 4th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the aerospace company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction 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 sale, the vice president now directly owns 20,296 shares in the company, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their position. The sale 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 General Dynamics stock in a transaction that occurred 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 completion of the sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 26.87 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

Large investors have recently bought and sold shares of the business. MFA Wealth Advisors LLC grew its stake 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 worth $25,000 after buying an additional 58 shares in the last quarter. Hara Capital LLC bought a new stake in General Dynamics during the third quarter worth approximately $26,000. American Capital Advisory LLC purchased a new stake in General Dynamics during the second quarter valued at approximately $29,000. Lowe Wealth Advisors LLC bought a new stake in shares of General Dynamics in the 3rd quarter valued at approximately $30,000. Finally, Atlantic Edge Private Wealth Management LLC boosted 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 worth $32,000 after purchasing an additional 60 shares during the period. Institutional investors own 86.14% of the company’s stock.

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.