D.A. Davidson & CO. Reduces Holdings in General Dynamics Co. (NYSE:GD)

D.A. Davidson & CO. lessened its position in shares of General Dynamics Co. (NYSE:GD) by 13.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 72,884 shares of the aerospace company’s stock after selling 11,257 shares during the quarter. D.A. Davidson & CO.’s holdings in General Dynamics were worth $22,026,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in GD. Silvercrest Asset Management Group LLC grew its holdings in shares of General Dynamics by 10.0% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 7,466 shares of the aerospace company’s stock worth $2,109,000 after purchasing an additional 679 shares during the period. Waverly Advisors LLC boosted its stake in General Dynamics by 6.8% during the first quarter. Waverly Advisors LLC now owns 3,606 shares of the aerospace company’s stock worth $1,019,000 after buying an additional 231 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in General Dynamics by 15.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 8,443 shares of the aerospace company’s stock worth $2,385,000 after buying an additional 1,140 shares during the period. California State Teachers Retirement System raised its stake in shares of General Dynamics by 0.5% in the 1st quarter. California State Teachers Retirement System now owns 378,884 shares of the aerospace company’s stock valued at $107,031,000 after acquiring an additional 1,704 shares during the period. Finally, Tidal Investments LLC lifted its holdings in shares of General Dynamics by 7.8% in the 1st quarter. Tidal Investments LLC now owns 4,704 shares of the aerospace company’s stock worth $1,329,000 after acquiring an additional 340 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated 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 transaction, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GD. Sanford C. Bernstein cut their target price on 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. Barclays increased their target price on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Citigroup lifted 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. Deutsche Bank Aktiengesellschaft reduced their price target on General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Finally, Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $323.69.

General Dynamics Trading Down 0.2 %

NYSE GD opened at $281.30 on Tuesday. General Dynamics Co. has a 52-week low of $243.87 and a 52-week high of $316.90. The firm has a 50-day moving average price of $299.91 and a 200 day moving average price of $295.92. The stock has a market capitalization of $77.35 billion, a P/E ratio of 21.42, a P/E/G ratio of 1.70 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last issued 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). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The business had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same period last year, the company posted $3.04 earnings per share. The business’s quarterly revenue was up 10.4% on a year-over-year basis. Equities research analysts expect that General Dynamics Co. will post 13.98 EPS for the current year.

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.