JPMorgan Chase & Co. Has Lowered Expectations for General Dynamics (NYSE:GD) Stock Price

General Dynamics (NYSE:GD) had its price objective lowered by JPMorgan Chase & Co. from $307.00 to $284.00 in a report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the aerospace company’s stock.

GD has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Dynamics from $303.00 to $295.00 and set a “hold” rating for the company in a report on Thursday, January 2nd. Jefferies Financial Group reissued a “hold” rating and set a $300.00 price objective (down previously from $345.00) on shares of General Dynamics in a research report on Thursday, December 12th. Baird R W downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Robert W. Baird reissued a “neutral” rating and set a $283.00 target price (down previously from $345.00) on shares of General Dynamics in a research report on Tuesday, January 14th. Finally, TD Cowen dropped their target price on shares of General Dynamics from $315.00 to $295.00 in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $301.24.

General Dynamics Stock Up 0.1 %

GD stock opened at $257.17 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. General Dynamics has a fifty-two week low of $247.01 and a fifty-two week high of $316.90. The business has a 50-day moving average of $267.05 and a 200-day moving average of $286.83. The stock has a market capitalization of $70.71 billion, a P/E ratio of 18.85, a P/E/G ratio of 1.34 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, January 29th. The aerospace company reported $4.15 EPS for the quarter, missing the consensus estimate of $4.29 by ($0.14). General Dynamics had a net margin of 7.93% and a return on equity of 17.08%. On average, sell-side analysts anticipate that General Dynamics will post 15.92 earnings per share for the current fiscal 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 reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

General Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, January 17th. General Dynamics’s dividend payout ratio is currently 41.64%.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the transaction, the vice president now directly owns 20,296 shares in the company, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On General Dynamics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC increased its holdings in General Dynamics by 14.9% during the 4th quarter. Global Retirement Partners LLC now owns 2,125 shares of the aerospace company’s stock valued at $560,000 after acquiring an additional 276 shares in the last quarter. Atlas Legacy Advisors LLC acquired a new stake in shares of General Dynamics in the fourth quarter valued at approximately $550,000. Bank of Jackson Hole Trust purchased a new position in shares of General Dynamics during the 4th quarter worth approximately $916,000. Mcdonald Partners LLC raised its position in shares of General Dynamics by 6.8% during the 4th quarter. Mcdonald Partners LLC now owns 5,542 shares of the aerospace company’s stock worth $1,460,000 after purchasing an additional 351 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its stake in General Dynamics by 55.2% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 11,849 shares of the aerospace company’s stock valued at $3,122,000 after buying an additional 4,214 shares in the last quarter. Institutional investors and hedge funds 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.