General Dynamics (NYSE:GD) Stock Price Down 5.8%

General Dynamics Co. (NYSE:GD) was down 5.8% during mid-day trading on Tuesday . The stock traded as low as $173.27 and last traded at $173.92, approximately 2,780,079 shares changed hands during trading. An increase of 87% from the average daily volume of 1,484,532 shares. The stock had previously closed at $184.61.

A number of research analysts recently issued reports on GD shares. Cowen reissued a “buy” rating and issued a $215.00 price objective on shares of General Dynamics in a research note on Tuesday, December 17th. Argus upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. raised General Dynamics from a “neutral” rating to an “overweight” rating and raised their target price for the company from $210.00 to $225.00 in a report on Thursday, February 6th. ValuEngine lowered General Dynamics from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley boosted their price target on General Dynamics from $172.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. General Dynamics currently has a consensus rating of “Buy” and an average target price of $205.60.

The company has a market capitalization of $54.33 billion, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 1.79 and a beta of 1.14. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.80 and a current ratio of 1.18. The firm’s fifty day moving average is $183.56 and its 200-day moving average is $182.59.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $3.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.44 by $0.07. The business had revenue of $10.77 billion during the quarter, compared to analysts’ expectations of $10.64 billion. General Dynamics had a net margin of 8.85% and a return on equity of 26.70%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $3.07 EPS. As a group, analysts expect that General Dynamics Co. will post 12.73 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, February 7th. Shareholders of record on Friday, January 17th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.35%. General Dynamics’s payout ratio is presently 34.06%.

In related news, EVP Mark C. Roualet sold 50,195 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $181.78, for a total transaction of $9,124,447.10. Following the sale, the executive vice president now owns 169,443 shares in the company, valued at approximately $30,801,348.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.10% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Redpoint Investment Management Pty Ltd increased its position in General Dynamics by 110.4% in the 4th quarter. Redpoint Investment Management Pty Ltd now owns 10,089 shares of the aerospace company’s stock valued at $1,779,000 after acquiring an additional 5,293 shares during the period. Redhawk Wealth Advisors Inc. raised its stake in shares of General Dynamics by 49.7% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 1,738 shares of the aerospace company’s stock valued at $307,000 after acquiring an additional 577 shares during the last quarter. Procyon Private Wealth Partners LLC bought a new position in shares of General Dynamics during the fourth quarter valued at $135,000. National Pension Service lifted its holdings in shares of General Dynamics by 1.8% during the fourth quarter. National Pension Service now owns 320,522 shares of the aerospace company’s stock worth $56,524,000 after purchasing an additional 5,789 shares during the period. Finally, Archer Investment Corp acquired a new position in shares of General Dynamics during the fourth quarter worth $529,000. 77.48% of the stock is owned by institutional investors.

About General Dynamics (NYSE:GD)

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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