General Dynamics Stock Lower After Analyst Downgrade

Core Viewpoint - General Dynamics Corp has been downgraded by Jefferies from "buy" to "hold" with a price target reduction from $345 to $300 due to delivery delays of G700 aircrafts and extended certification times for custom interiors [1] Group 1: Stock Performance - General Dynamics shares are down 1.5% at $261.47, marking the lowest level since January [2] - The stock has decreased by 13.8% this quarter and has gapped lower from a record high of $316.90 on November 14 [2] - The equity recently breached its 320-day moving average [2] Group 2: Market Sentiment - Short-term options traders exhibit bearish sentiment towards General Dynamics, as indicated by a Schaeffer's put/call open interest ratio that is higher than 84% of readings from the past 12 months [3]