General Dynamics Co. (NYSE:GD) Shares Sold by Strategy Asset Managers LLC

Strategy Asset Managers LLC reduced its holdings in General Dynamics Co. (NYSE:GD) by 15.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,208 shares of the aerospace company’s stock after selling 4,226 shares during the quarter. General Dynamics comprises approximately 1.3% of Strategy Asset Managers LLC’s investment portfolio, making the stock its 21st biggest holding. Strategy Asset Managers LLC’s holdings in General Dynamics were worth $7,013,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Segall Bryant & Hamill LLC acquired a new position in General Dynamics during the 3rd quarter worth approximately $3,039,000. Prospera Private Wealth LLC acquired a new position in shares of General Dynamics during the third quarter worth $197,000. West Family Investments Inc. purchased a new position in shares of General Dynamics in the third quarter valued at $216,000. Fifth Third Wealth Advisors LLC grew its holdings in General Dynamics by 67.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock valued at $2,583,000 after purchasing an additional 3,448 shares in the last quarter. Finally, Prospera Financial Services Inc increased its stake in General Dynamics by 2.2% during the 3rd quarter. Prospera Financial Services Inc now owns 12,392 shares of the aerospace company’s stock worth $3,750,000 after buying an additional 271 shares during the period. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays upped their price target on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Sanford C. Bernstein reduced their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, Citigroup lifted their price target on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $323.69.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The trade was a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

General Dynamics Stock Performance

Shares of NYSE:GD opened at $280.98 on Wednesday. The business has a fifty day moving average of $301.71 and a 200-day moving average of $296.28. 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 Co. has a twelve month low of $243.87 and a twelve month high of $316.90. The firm has a market cap of $77.26 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 1.74 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The business had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm earned $3.04 earnings per share. On average, equities research analysts predict that General Dynamics Co. will post 13.98 EPS for the current fiscal year.

General Dynamics 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.