Zacks Investment Research lowered shares of General Dynamics Corporation (NYSE:GD) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

According to Zacks, “Being one of the only two contractors in the world equipped to build nuclear-powered submarines, General Dynamics’ diverse portfolio of products and services along with its wide customer base provides it with an opportunity to generate solid revenues from different sources. Moreover, the recently approved fiscal 2018 defense policy bill, which includes provision to spend $6 billion in Navy shipbuilding, will surely boost the company's growth trajectory. Also its Gulfstream business continues to grow on the back of solid jet sales. However, the company operates in a highly competitive market and has to rely on other companies to provide materials, components and subsystems for its products. Moreover, the company has been witnessing declining backlogs in recent times.Also it has underperformed its broader industry in past one year.”

GD has been the topic of several other reports. Deutsche Bank AG reiterated a hold rating and set a $210.00 target price (up from $200.00) on shares of General Dynamics Corporation in a report on Monday, October 2nd. ValuEngine upgraded shares of General Dynamics Corporation from a hold rating to a buy rating in a report on Friday, September 1st. BidaskClub cut shares of General Dynamics Corporation from a strong-buy rating to a buy rating in a report on Tuesday, June 27th. Berenberg Bank started coverage on shares of General Dynamics Corporation in a report on Wednesday, July 12th. They set a buy rating and a $230.00 target price on the stock. Finally, Citigroup Inc. reiterated a neutral rating and set a $215.00 target price (up from $210.00) on shares of General Dynamics Corporation in a report on Monday, October 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $209.45.

General Dynamics Corporation (GD) traded up 0.41% during midday trading on Monday, reaching $211.25. 175,551 shares of the company traded hands. The company has a 50 day moving average price of $205.46 and a 200-day moving average price of $199.44. General Dynamics Corporation has a one year low of $148.76 and a one year high of $214.81. The stock has a market capitalization of $63.33 billion, a P/E ratio of 20.87 and a beta of 0.72.

General Dynamics Corporation (NYSE:GD) last issued its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.43 by $0.02. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The company had revenue of $7.68 billion for the quarter, compared to analysts’ expectations of $7.76 billion. During the same period in the prior year, the business earned $2.30 EPS. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. Analysts forecast that General Dynamics Corporation will post $9.81 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio is currently 34.57%.

Several large investors have recently added to or reduced their stakes in GD. Quantitative Investment Management LLC boosted its holdings in shares of General Dynamics Corporation by 57.4% in the 1st quarter. Quantitative Investment Management LLC now owns 39,200 shares of the aerospace company’s stock valued at $7,338,000 after buying an additional 14,300 shares in the last quarter. HL Financial Services LLC boosted its holdings in shares of General Dynamics Corporation by 36.2% in the 1st quarter. HL Financial Services LLC now owns 5,510 shares of the aerospace company’s stock valued at $1,032,000 after buying an additional 1,464 shares in the last quarter. Palladium Partners LLC boosted its holdings in shares of General Dynamics Corporation by 5.9% in the 1st quarter. Palladium Partners LLC now owns 23,182 shares of the aerospace company’s stock valued at $4,340,000 after buying an additional 1,287 shares in the last quarter. Eagle Global Advisors LLC boosted its holdings in shares of General Dynamics Corporation by 15.4% in the 1st quarter. Eagle Global Advisors LLC now owns 1,500 shares of the aerospace company’s stock valued at $281,000 after buying an additional 200 shares in the last quarter. Finally, Condor Capital Management bought a new stake in shares of General Dynamics Corporation in the 1st quarter valued at about $772,000. Institutional investors and hedge funds own 86.17% of the company’s stock.

General Dynamics Corporation Company Profile

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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