Here is the verse in full, as it appears in NA/28:
δόξα ἐν ὑψίστοις θεῷ καὶ ἐπὶ γῆς εἰρήνη ἐν ἀνθρώποις εὐδοκίας.
Glory to God in the highest, And on earth peace among men with whom he is pleased
with the marginal reading
Lit. of good pleasure; or of good will
εὐδοκίας is genitive, and this differs from the Textus Receptus reading only in that the word in that text is nominative (εὐδοκία), resulting in the translation "good will toward men." (KJV)
BAG (1957) states that εὐδοκία can refer to (1) "good will of men" or (2) "favor, good pleasure; this would refer to the persons upon whom divine favor rests."
If we accept the textual readings which employ the genitive (εὐδοκίας), why would a translator prefer 'men of God's good pleasure' rather than 'men of good will;' that is, men who are recipient's of God's good will rather than men of good will toward God? The former is what a preponderance of translators prefer. (See NASB, NIV, ESV, RSV, NRSV, etc.)