BTIG Research Downgrades General Dynamics (NYSE:GD) to Neutral

General Dynamics (NYSE:GD) was downgraded by equities research analysts at BTIG Research from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday,Briefing.com Automated Import reports.

Several other research firms have also commented on GD. JPMorgan Chase & Co. reduced their price target on shares of General Dynamics from $307.00 to $284.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Wells Fargo & Company lowered their price target on shares of General Dynamics from $279.00 to $276.00 and set an “equal weight” rating on the stock in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Sanford C. Bernstein cut their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $300.00 price target (down from $345.00) on shares of General Dynamics in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $298.59.

General Dynamics Stock Performance

Shares of GD stock opened at $251.26 on Thursday. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. General Dynamics has a 52 week low of $247.01 and a 52 week high of $316.90. The firm has a market capitalization of $69.09 billion, a PE ratio of 18.42, a P/E/G ratio of 1.61 and a beta of 0.61. The company has a 50 day moving average price of $263.66 and a 200-day moving average price of $285.08.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, January 29th. The aerospace company reported $4.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.14). General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. As a group, equities research analysts expect that General Dynamics will post 14.84 earnings per share for the current year.

General Dynamics declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 4th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the aerospace company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, VP Christopher J. Brady sold 5,540 shares of the company’s 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 transaction, the vice president now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Laura J. Schumacher sold 1,796 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $255.68, for a total value of $459,201.28. Following the completion of the sale, the director now directly owns 11,175 shares in the company, valued at approximately $2,857,224. The trade was a 13.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On General Dynamics

Several institutional investors and hedge funds have recently added to or reduced their stakes in GD. MFA Wealth Advisors LLC boosted its position in General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 58 shares during the last quarter. Financial Life Planners purchased a new stake in General Dynamics in the 4th quarter valued at $25,000. Hara Capital LLC acquired a new stake in shares of General Dynamics in the 3rd quarter worth $26,000. Whipplewood Advisors LLC acquired a new position in shares of General Dynamics during the 4th quarter valued at about $26,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in General Dynamics during the fourth quarter worth about $26,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

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.