Centaurus Financial Inc. Cuts Stock Position in General Dynamics Co. (NYSE:GD)

Centaurus Financial Inc. reduced its position in General Dynamics Co. (NYSE:GD) by 32.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,128 shares of the aerospace company’s stock after selling 1,473 shares during the quarter. Centaurus Financial Inc.’s holdings in General Dynamics were worth $945,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. MFA Wealth Advisors LLC grew its stake in General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 58 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of General Dynamics during the third quarter worth approximately $26,000. American Capital Advisory LLC purchased a new position in General Dynamics in the second quarter worth approximately $29,000. Lowe Wealth Advisors LLC acquired a new position in General Dynamics during the 3rd quarter worth approximately $30,000. Finally, New Covenant Trust Company N.A. purchased a new stake in shares of General Dynamics in the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GD shares. Deutsche Bank Aktiengesellschaft lowered 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. Citigroup raised their target price on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Sanford C. Bernstein dropped their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, Royal Bank of Canada lifted their price target on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Seven investment 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.69.

Insider Transactions at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

General Dynamics Stock Performance

NYSE:GD opened at $281.30 on Tuesday. 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 cap of $77.35 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 1.70 and a beta of 0.61. The firm’s fifty day moving average price is $299.91 and its 200 day moving average price is $295.92. General Dynamics Co. has a 1-year low of $243.87 and a 1-year high of $316.90.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). The firm 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%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.04 EPS. On average, sell-side analysts expect that General Dynamics Co. will post 13.98 EPS for the current year.

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.