Auxier Asset Management Sells 130 Shares of General Dynamics Co. (NYSE:GD)

Auxier Asset Management reduced its holdings in shares of General Dynamics Co. (NYSE:GD) by 12.0% in the third quarter, Holdings Channel reports. The institutional investor owned 952 shares of the aerospace company’s stock after selling 130 shares during the period. Auxier Asset Management’s holdings in General Dynamics were worth $288,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GD. Coston McIsaac & Partners increased 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 acquiring an additional 33 shares during the last quarter. Global X Japan Co. Ltd. increased its position in shares of General Dynamics by 2.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock valued at $448,000 after purchasing an additional 33 shares during the last quarter. Grove Bank & Trust raised its stake in shares of General Dynamics by 10.6% during the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after purchasing an additional 34 shares during the period. Trueblood Wealth Management LLC boosted its holdings in shares of General Dynamics by 1.6% in the 3rd quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock worth $672,000 after buying an additional 34 shares during the last quarter. Finally, Modera Wealth Management LLC grew its position 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 buying an additional 35 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Performance

NYSE:GD opened at $282.31 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The stock has a 50-day simple moving average of $298.62 and a two-hundred day simple moving average of $295.63. The firm has a market capitalization of $77.63 billion, a PE ratio of 21.50, a P/E/G ratio of 1.71 and a beta of 0.61. General Dynamics Co. has a 52-week low of $243.87 and a 52-week high of $316.90.

General Dynamics (NYSE:GD) last announced 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). The company had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.04 earnings per share. Analysts forecast that General Dynamics Co. will post 13.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GD. TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Citigroup lifted their price objective on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Royal Bank of Canada upped their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Wells Fargo & Company boosted their price target on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Finally, Barclays raised their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.69.

Insider Buying and Selling at General Dynamics

In related 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the transaction, the vice president now owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

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.