General Dynamics (NYSE:GD) Rating Lowered to "Hold" at Baird R W

General Dynamics (NYSE:GD - Get Free Report) was downgraded by research analysts at Baird R W from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Vertical Research cut General Dynamics from a "buy" rating to a "hold" rating and lowered their target price for the stock from $352.00 to $290.00 in a report on Monday, January 6th. Barclays cut their target price on shares of General Dynamics from $330.00 to $305.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. The Goldman Sachs Group downgraded shares of General Dynamics from a "neutral" rating to a "sell" rating and dropped their price target for the company from $283.00 to $245.00 in a research note on Thursday, December 12th. Sanford C. Bernstein decreased their price objective on General Dynamics from $343.00 to $331.00 and set a "market perform" rating for the company in a report on Thursday, October 24th. Finally, Wells Fargo & Company cut their target price on General Dynamics from $295.00 to $279.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $304.53.

General Dynamics Price Performance

General Dynamics stock traded up $0.77 during midday trading on Tuesday, reaching $265.89. The company's stock had a trading volume of 626,134 shares, compared to its average volume of 1,333,547. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The stock has a market cap of $73.11 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. General Dynamics has a 52 week low of $247.36 and a 52 week high of $316.90. The business has a 50-day moving average price of $275.30 and a 200-day moving average price of $288.61.

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

General Dynamics announced that its Board of Directors has approved a share buyback plan on Wednesday, December 4th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the aerospace company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Insider Activity

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

Hedge Funds Weigh In On General Dynamics

Large investors have recently bought and sold shares of the stock. Fifth Third Wealth Advisors LLC raised its holdings in shares of General Dynamics by 67.6% in the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company's stock valued at $2,583,000 after purchasing an additional 3,448 shares during the last quarter. Olstein Capital Management L.P. lifted its position in shares of General Dynamics by 36.4% during the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company's stock worth $4,533,000 after buying an additional 4,000 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of General Dynamics by 10.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company's stock worth $11,204,000 after buying an additional 3,363 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of General Dynamics by 69.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 261,992 shares of the aerospace company's stock valued at $69,032,000 after acquiring an additional 107,095 shares in the last quarter. Finally, Lummis Asset Management LP increased its position in shares of General Dynamics by 32.6% during the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company's stock valued at $3,133,000 after acquiring an additional 2,551 shares during the last quarter. 86.14% 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 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.