Moran Wealth Management LLC Sells 919 Shares of General Dynamics Co. (NYSE:GD)

Moran Wealth Management LLC cut its position in shares of General Dynamics Co. (NYSE:GD) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,765 shares of the aerospace company’s stock after selling 919 shares during the period. Moran Wealth Management LLC’s holdings in General Dynamics were worth $17,457,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Massachusetts Financial Services Co. MA increased its position in shares of General Dynamics by 4.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after acquiring an additional 293,316 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in General Dynamics by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after acquiring an additional 115,063 shares during the period. Ameriprise Financial Inc. raised its position in General Dynamics by 2.4% during the second quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock valued at $601,756,000 after acquiring an additional 47,915 shares in the last quarter. Boston Partners raised its position in General Dynamics by 1.4% during the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock worth $474,927,000 after acquiring an additional 23,262 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in General Dynamics by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock worth $466,049,000 after buying an additional 23,304 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of NYSE GD traded down $1.92 during mid-day trading on Wednesday, reaching $279.04. The company had a trading volume of 136,007 shares, compared to its average volume of 1,100,384. General Dynamics Co. has a 1-year low of $243.87 and a 1-year high of $316.90. The stock has a market cap of $76.73 billion, a PE ratio of 21.40, a P/E/G ratio of 1.74 and a beta of 0.61. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $301.71 and a two-hundred day moving average price of $296.28.

General Dynamics (NYSE:GD) last released its earnings results 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). The business had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. General Dynamics’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.04 EPS. On average, equities analysts anticipate that General Dynamics Co. will post 13.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft cut their price target on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a report on Friday, November 1st. Citigroup increased their price target on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Susquehanna boosted their price objective on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company raised their target price 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 assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $323.69.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction 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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is owned by corporate insiders.

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.