General Dynamics’ (GD) “Neutral” Rating Reiterated at Robert W. Baird

Robert W. Baird reissued their neutral rating on shares of General Dynamics (NYSE:GD) in a research note published on Tuesday morning, Marketbeat reports. They currently have a $283.00 price objective on the aerospace company’s stock, down from their previous price objective of $345.00.

GD has been the subject of a number of other research reports. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Wells Fargo & Company reduced their price target on General Dynamics from $295.00 to $279.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Jefferies Financial Group reiterated a “hold” rating and set a $300.00 price target (down previously from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, General Dynamics has a consensus rating of “Hold” and a consensus target price of $304.53.

General Dynamics Trading Up 0.5 %

NYSE:GD opened at $264.92 on Tuesday. General Dynamics has a 12-month low of $247.36 and a 12-month high of $316.90. The firm has a market capitalization of $72.84 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.62 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The business has a 50 day simple moving average of $275.30 and a 200 day simple moving average of $288.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The business had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same quarter last year, the firm posted $3.04 EPS. The company’s revenue was up 10.4% compared to the same quarter last year. Equities research analysts predict that General Dynamics will post 13.84 EPS for the current year.

General Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, January 17th. General Dynamics’s dividend payout ratio is 43.26%.

General Dynamics announced that its Board of Directors has initiated a stock repurchase program on Wednesday, December 4th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the aerospace company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the sale, the vice president now directly owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

Several hedge funds have recently bought and sold shares of GD. MFA Wealth Advisors LLC lifted its stake in 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 acquiring an additional 58 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of General Dynamics during the 3rd quarter worth about $26,000. Lowe Wealth Advisors LLC purchased a new stake in shares of General Dynamics during the 3rd quarter worth about $30,000. True Wealth Design LLC purchased a new stake in shares of General Dynamics during the 3rd quarter worth about $34,000. Finally, Coston McIsaac & Partners raised its stake in shares of General Dynamics by 22.8% during the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after purchasing an additional 33 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Company Profile

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.