Haverford Trust Co. decreased its position in shares of General Dynamics Co. (NYSE:GD) by 3.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,430 shares of the aerospace company’s stock after selling 56 shares during the period. Haverford Trust Co.’s holdings in General Dynamics were worth $261,000 at the end of the most recent quarter.
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A number of other institutional investors and hedge funds have also recently bought and sold shares of GD. Nuveen Asset Management LLC lifted its stake in General Dynamics by 852.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,044,973 shares of the aerospace company’s stock worth $189,997,000 after acquiring an additional 935,275 shares in the last quarter. Thoroughbred Financial Services LLC lifted its stake in General Dynamics by 18,507.6% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 926,285 shares of the aerospace company’s stock worth $92,628,000 after acquiring an additional 921,307 shares in the last quarter. Impala Asset Management LLC acquired a new position in General Dynamics during the 2nd quarter worth about $94,759,000. Caisse DE Depot ET Placement DU Quebec raised its position in General Dynamics by 11.4% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,748,497 shares of the aerospace company’s stock valued at $681,552,000 after purchasing an additional 383,200 shares in the last quarter. Finally, Farallon Capital Management LLC raised its position in General Dynamics by 23.5% in the 2nd quarter. Farallon Capital Management LLC now owns 1,335,214 shares of the aerospace company’s stock valued at $242,769,000 after purchasing an additional 253,726 shares in the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE GD traded up $2.13 during midday trading on Friday, hitting $185.08. 1,426,248 shares of the company’s stock were exchanged, compared to its average volume of 1,287,989. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.11 and a quick ratio of 0.74. General Dynamics Co. has a twelve month low of $143.87 and a twelve month high of $193.76. The company has a market cap of $51.87 billion, a PE ratio of 16.21, a P/E/G ratio of 1.75 and a beta of 1.17. The firm’s fifty day simple moving average is $179.25 and its 200-day simple moving average is $179.37.
General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, October 23rd. The aerospace company reported $3.14 earnings per share for the quarter, topping the consensus estimate of $3.06 by $0.08. General Dynamics had a return on equity of 26.79% and a net margin of 8.66%. The business had revenue of $9.76 billion for the quarter, compared to analyst estimates of $9.75 billion. During the same quarter last year, the company earned $2.89 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. Equities analysts anticipate that General Dynamics Co. will post 11.91 EPS for the current fiscal year.
In other news, EVP Christopher Marzilli sold 32,930 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $187.16, for a total transaction of $6,163,178.80. Following the sale, the executive vice president now owns 100,557 shares of the company’s stock, valued at approximately $18,820,248.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.10% of the stock is currently owned by company insiders.
A number of research firms have issued reports on GD. Morgan Stanley reduced their price target on General Dynamics from $173.00 to $172.00 and set an “underweight” rating on the stock in a research report on Thursday, October 10th. Credit Suisse Group reduced their price target on General Dynamics from $197.00 to $193.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Cowen set a $202.00 price target on General Dynamics and gave the company a “buy” rating in a research report on Friday, August 30th. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price target on the stock in a research report on Monday, September 2nd. Finally, Barclays set a $215.00 price target on General Dynamics and gave the company a “buy” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $192.66.
General Dynamics Company Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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