General Dynamics (GD) Stock Rating Lowered by ValuEngine
General Dynamics (NYSE:GD) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday.
A number of other brokerages have also recently issued reports on GD. Zacks Investment Research cut shares of General Dynamics from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Citigroup reiterated a “neutral” rating and set a $215.00 price objective (up from $210.00) on shares of General Dynamics in a report on Monday, October 9th. Cowen reiterated a “buy” rating and set a $230.00 price objective on shares of General Dynamics in a report on Thursday, October 19th. Jefferies Group restated a “buy” rating and set a $236.00 price target on shares of General Dynamics in a report on Thursday, October 26th. Finally, Credit Suisse Group restated an “outperform” rating and set a $238.00 price target (up from $216.00) on shares of General Dynamics in a report on Thursday, October 26th. Two investment 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. The company presently has an average rating of “Hold” and a consensus price target of $218.45.
Shares of General Dynamics (GD) traded down $4.52 during midday trading on Thursday, hitting $202.64. 1,311,450 shares of the stock were exchanged, compared to its average volume of 954,073. The firm has a market capitalization of $61,854.44, a PE ratio of 20.57, a P/E/G ratio of 2.48 and a beta of 0.72. General Dynamics has a 52-week low of $168.00 and a 52-week high of $214.81. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.93.
In other General Dynamics news, insider John Patrick Casey sold 34,945 shares of General Dynamics stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total value of $7,037,224.10. Following the sale, the insider now owns 144,378 shares of the company’s stock, valued at $29,074,841.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Gregory S. Gallopoulos sold 78,370 shares of General Dynamics 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 insiders.
A number of hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new stake in shares of General Dynamics in the third quarter valued at approximately $3,884,000. Public Employees Retirement System of Ohio raised its position in shares of General Dynamics by 0.7% in the third quarter. Public Employees Retirement System of Ohio now owns 185,535 shares of the aerospace company’s stock valued at $38,142,000 after purchasing an additional 1,293 shares during the period. Belpointe Asset Management LLC bought a new stake in shares of General Dynamics in the third quarter valued at approximately $586,000. IFM Investors Pty Ltd bought a new stake in shares of General Dynamics in the third quarter valued at approximately $1,494,000. Finally, Smith & Howard Wealth Management LLC bought a new stake in shares of General Dynamics in the third quarter valued at approximately $206,000. 86.86% of the stock is currently owned by institutional investors and hedge funds.
General Dynamics 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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