Granite Group Advisors LLC Reduces Holdings in General Dynamics Co. (NYSE:GD)

Granite Group Advisors LLC reduced its stake in General Dynamics Co. (NYSE:GD) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,935 shares of the aerospace company’s stock after selling 107 shares during the period. General Dynamics accounts for 0.8% of Granite Group Advisors LLC’s portfolio, making the stock its 28th largest position. Granite Group Advisors LLC’s holdings in General Dynamics were worth $1,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Global X Japan Co. Ltd. lifted its holdings in General Dynamics by 2.3% in the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock worth $448,000 after purchasing an additional 33 shares in the last quarter. Coston McIsaac & Partners raised its position in shares of General Dynamics by 22.8% during the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after buying an additional 33 shares during the last quarter. Grove Bank & Trust lifted its holdings in shares of General Dynamics by 10.6% in the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after buying an additional 34 shares in the last quarter. Trueblood Wealth Management LLC boosted its position in shares of General Dynamics by 1.6% during the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock worth $672,000 after acquiring an additional 34 shares during the last quarter. Finally, Modera Wealth Management LLC grew its stake in General Dynamics by 0.4% during the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after acquiring an additional 35 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

General Dynamics Trading Up 0.7 %

NYSE GD traded up $2.24 during trading on Friday, hitting $308.24. The stock had a trading volume of 49,311 shares, compared to its average volume of 1,092,395. The stock has a market capitalization of $84.76 billion, a price-to-earnings ratio of 23.31, a P/E/G ratio of 1.78 and a beta of 0.61. The stock has a 50 day simple moving average of $301.25 and a 200 day simple moving average of $295.38. General Dynamics Co. has a one year low of $238.31 and a one year high of $313.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter in the previous year, the firm earned $3.04 EPS. General Dynamics’s revenue was up 10.4% compared to the same quarter last year. Sell-side analysts predict that General Dynamics Co. will post 13.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays boosted their price target on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $293.00 to $345.00 in a report on Friday, August 9th. Sanford C. Bernstein decreased their price objective on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Citigroup increased their target price on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company boosted their price target on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, eleven have given 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 “Moderate Buy” and a consensus price target of $323.69.

About General Dynamics

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.