General Dynamics (GD) Downgraded by Jefferies Financial Group
Jefferies Financial Group cut shares of General Dynamics (NYSE:GD) from a buy rating to a hold rating in a report released on Tuesday, Marketbeat reports. Jefferies Financial Group currently has $164.00 target price on the aerospace company’s stock, down from their prior target price of $197.00. Jefferies Financial Group also issued estimates for General Dynamics’ FY2019 earnings at $12.05 EPS, FY2020 earnings at $13.30 EPS and FY2021 earnings at $14.45 EPS.
Several other equities analysts have also recently commented on GD. Robert W. Baird lowered their target price on shares of General Dynamics from $243.00 to $222.00 and set an outperform rating on the stock in a research note on Thursday, October 25th. Stifel Nicolaus lowered their price objective on shares of General Dynamics from $210.00 to $200.00 and set a hold rating on the stock in a research note on Friday, October 26th. Argus lowered their price objective on shares of General Dynamics from $250.00 to $200.00 and set a buy rating on the stock in a research note on Friday, October 26th. Zacks Investment Research cut shares of General Dynamics from a hold rating to a sell rating in a research note on Wednesday, October 10th. Finally, Citigroup lowered their price objective on shares of General Dynamics from $210.00 to $195.00 and set a neutral rating on the stock in a research note on Thursday, October 25th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $220.32.
NYSE:GD traded down $0.13 during mid-day trading on Tuesday, hitting $162.30. The stock had a trading volume of 34,781 shares, compared to its average volume of 1,714,320. The company has a market cap of $47.65 billion, a PE ratio of 16.35, a P/E/G ratio of 1.29 and a beta of 1.09. General Dynamics has a 52 week low of $143.87 and a 52 week high of $230.00. The company has a quick ratio of 0.87, a current ratio of 1.27 and a debt-to-equity ratio of 0.89.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Shareholders of record on Friday, January 18th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Thursday, January 17th. General Dynamics’s dividend payout ratio (DPR) is presently 37.39%.
In other news, Director Catherine B. Reynolds purchased 600 shares of the company’s stock in a transaction dated Friday, December 7th. The shares were bought at an average price of $167.64 per share, with a total value of $100,584.00. Following the completion of the transaction, the director now directly owns 1,153 shares in the company, valued at approximately $193,288.92. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark Malcolm purchased 3,000 shares of the company’s stock in a transaction dated Friday, October 26th. The stock was purchased at an average cost of $169.87 per share, for a total transaction of $509,610.00. Following the transaction, the director now owns 4,455 shares of the company’s stock, valued at $756,770.85. The disclosure for this purchase can be found here. 6.90% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Moody National Bank Trust Division boosted its stake in shares of General Dynamics by 120.0% in the 4th quarter. Moody National Bank Trust Division now owns 363 shares of the aerospace company’s stock valued at $57,000 after purchasing an additional 198 shares in the last quarter. Csenge Advisory Group acquired a new stake in General Dynamics during the 3rd quarter valued at $80,000. Zions Bancorporation bought a new position in General Dynamics during the 3rd quarter worth $109,000. Ruggie Capital Group bought a new position in General Dynamics during the 2nd quarter worth $122,000. Finally, Ffcm LLC increased its position in General Dynamics by 504.1% during the 3rd quarter. Ffcm LLC now owns 53,032 shares of the aerospace company’s stock worth $126,000 after buying an additional 44,253 shares during the period. 86.36% of the stock is currently owned by institutional investors.
General Dynamics Company Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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