General Dynamics Corporation (NYSE:GD) Downgraded to Buy at BidaskClub

General Dynamics Corporation (NYSE:GD) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday, July 31st.

Other equities research analysts also recently issued research reports about the stock. Cowen and Company reaffirmed an “outperform” rating and issued a $207.00 price objective on shares of General Dynamics Corporation in a report on Monday, April 17th. Zacks Investment Research raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating and set a $224.00 price target for the company in a report on Tuesday, June 27th. Royal Bank Of Canada upped their price target on shares of General Dynamics Corporation from $211.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, April 27th. Jefferies Group LLC reaffirmed a “buy” rating and set a $220.00 price objective (up from $200.00) on shares of General Dynamics Corporation in a research note on Friday, April 28th. Finally, Sanford C. Bernstein reiterated a “mkt perform” rating on shares of General Dynamics Corporation in a report on Wednesday, May 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $206.59.

Shares of General Dynamics Corporation (NYSE:GD) traded up 0.37% during mid-day trading on Monday, reaching $198.73. 1,581,719 shares of the company’s stock traded hands. General Dynamics Corporation has a 12-month low of $148.76 and a 12-month high of $205.90. The stock has a market capitalization of $59.58 billion, a PE ratio of 19.63 and a beta of 0.71. The company’s 50-day moving average price is $199.79 and its 200-day moving average price is $194.45.

General Dynamics Corporation (NYSE:GD) last released its quarterly earnings results on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.43 by $0.02. The business had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.30 earnings per share. Analysts anticipate that General Dynamics Corporation will post $9.81 earnings per share for the current year.

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In other news, VP Christopher Marzilli sold 43,890 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $201.37, for a total value of $8,838,129.30. Following the completion of the sale, the vice president now directly owns 107,857 shares in the company, valued at $21,719,164.09. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 6.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in GD. BlackRock Inc. raised its stake in shares of General Dynamics Corporation by 2,645.5% in the first quarter. BlackRock Inc. now owns 15,509,344 shares of the aerospace company’s stock worth $2,903,351,000 after buying an additional 14,944,453 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of General Dynamics Corporation by 44,941.4% in the second quarter. Janus Henderson Group PLC now owns 4,998,693 shares of the aerospace company’s stock worth $990,241,000 after buying an additional 4,987,595 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of General Dynamics Corporation by 4.7% in the first quarter. Vanguard Group Inc. now owns 19,799,817 shares of the aerospace company’s stock worth $3,706,525,000 after buying an additional 894,177 shares during the last quarter. Janus Capital Management LLC raised its stake in shares of General Dynamics Corporation by 22.1% in the first quarter. Janus Capital Management LLC now owns 4,148,390 shares of the aerospace company’s stock worth $776,563,000 after buying an additional 749,793 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in shares of General Dynamics Corporation by 4.5% in the second quarter. Capital Research Global Investors now owns 16,792,408 shares of the aerospace company’s stock worth $3,326,576,000 after buying an additional 725,896 shares during the last quarter. Institutional investors own 86.77% of the company’s stock.

General Dynamics Corporation Company Profile

General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.

Analyst Recommendations for General Dynamics Corporation (NYSE:GD)

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