Verity Asset Management Inc. Reduces Holdings in General Dynamics Co. (NYSE:GD)

Verity Asset Management Inc. reduced its stake in General Dynamics Co. (NYSE:GD) by 3.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,022 shares of the aerospace company’s stock after selling 120 shares during the quarter. Verity Asset Management Inc.’s holdings in General Dynamics were worth $912,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GD. MFA Wealth Advisors LLC lifted its stake in shares of General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after buying an additional 58 shares during the period. Hara Capital LLC acquired a new stake in General Dynamics during the 3rd quarter worth about $26,000. New Covenant Trust Company N.A. purchased a new stake in General Dynamics during the 1st quarter valued at about $29,000. American Capital Advisory LLC acquired a new position in shares of General Dynamics in the second quarter valued at about $29,000. Finally, Lowe Wealth Advisors LLC purchased a new position in shares of General Dynamics in the third quarter worth about $30,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of NYSE:GD opened at $306.08 on Friday. The business’s 50 day moving average price is $301.25 and its 200-day moving average price is $295.38. General Dynamics Co. has a 1 year low of $238.31 and a 1 year high of $313.11. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The firm has a market capitalization of $84.16 billion, a PE ratio of 23.31, a P/E/G ratio of 1.78 and a beta of 0.61.

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 for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. General Dynamics’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.04 EPS. As a group, equities research analysts expect that General Dynamics Co. will post 13.97 earnings per share for the current fiscal year.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

GD has been the topic of several research reports. Susquehanna increased their price target on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research note on Friday, November 1st. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Citigroup lifted their price target on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $323.69.

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.