Fiduciary Trust Co Sells 871 Shares of General Dynamics Co. (NYSE:GD)

Fiduciary Trust Co lessened its position in General Dynamics Co. (NYSE:GD) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,732 shares of the aerospace company’s stock after selling 871 shares during the period. Fiduciary Trust Co’s holdings in General Dynamics were worth $8,381,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GD. MFA Wealth Advisors LLC raised its stake in General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after buying an additional 58 shares during the period. Hara Capital LLC acquired a new position in shares of General Dynamics during the 3rd quarter worth approximately $26,000. American Capital Advisory LLC bought a new stake in General Dynamics in the 2nd quarter valued at $29,000. Lowe Wealth Advisors LLC acquired a new stake in General Dynamics during the 3rd quarter valued at $30,000. Finally, New Covenant Trust Company N.A. bought a new position in General Dynamics during the first quarter worth $29,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Performance

NYSE:GD opened at $282.31 on Thursday. The stock’s 50-day moving average is $299.07 and its 200-day moving average is $295.72. General Dynamics Co. has a 1-year low of $243.87 and a 1-year high of $316.90. 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 stock has a market cap of $77.63 billion, a P/E ratio of 21.50, a price-to-earnings-growth ratio of 1.70 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its 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 revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.04 earnings per share. Equities research analysts anticipate that General Dynamics Co. will post 13.98 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. TD Cowen raised General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Finally, Citigroup upped their price objective 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 assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $323.69.

Insider Buying and Selling

In other news, Director Peter A. Wall sold 1,320 shares of the 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 directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the transaction, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is owned by insiders.

General Dynamics Company 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.