General Dynamics (NYSE:GD) Downgraded to Market Perform Rating by William Blair

General Dynamics (NYSE:GD) was downgraded by stock analysts at William Blair from an “outperform” rating to a “market perform” rating in a research note issued on Friday,Finviz reports.

Several other analysts have also weighed in on GD. Vertical Research lowered General Dynamics from a “buy” rating to a “hold” rating and lowered their price objective for the company from $352.00 to $290.00 in a report on Monday, January 6th. Citigroup decreased their price objective on shares of General Dynamics from $360.00 to $335.00 and set a “buy” rating for the company in a report on Monday, February 10th. Susquehanna lowered their price objective on shares of General Dynamics from $315.00 to $300.00 and set a “positive” rating for the company in a research report on Thursday, January 30th. Wells Fargo & Company lowered their target price on General Dynamics from $279.00 to $276.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. Finally, The Goldman Sachs Group cut their target price on General Dynamics from $245.00 to $241.00 and set a “sell” rating on the stock in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $298.59.

General Dynamics Stock Performance

NYSE:GD opened at $246.25 on Friday. General Dynamics has a 1-year low of $239.87 and a 1-year high of $316.90. The stock has a market cap of $66.57 billion, a P/E ratio of 18.05, a PEG ratio of 1.68 and a beta of 0.61. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 0.82. The firm has a 50-day moving average of $260.08 and a two-hundred day moving average of $282.84.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. On average, research analysts expect that General Dynamics will post 14.83 earnings per share for the current fiscal year.

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

Insider Activity at General Dynamics

In other news, Director Laura J. Schumacher sold 1,796 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $255.68, for a total transaction of $459,201.28. Following the completion of the sale, the director now directly owns 11,175 shares of the company’s stock, valued at $2,857,224. This represents a 13.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Financial Life Planners purchased a new stake in shares of General Dynamics in the 4th quarter valued at approximately $25,000. Hara Capital LLC acquired a new stake in shares of General Dynamics in the third quarter worth $26,000. Whipplewood Advisors LLC purchased a new stake in General Dynamics in the 4th quarter worth about $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in General Dynamics during the 4th quarter worth about $26,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of General Dynamics in the 4th quarter valued at about $28,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

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.