D.A. Davidson & CO. Sells 11,257 Shares of General Dynamics Co. (NYSE:GD)

D.A. Davidson & CO. trimmed its stake in General Dynamics Co. (NYSE:GD - Free Report) by 13.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Fifth Third Wealth Advisors LLC boosted its stake in shares of General Dynamics by 67.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company's stock valued at $2,583,000 after buying an additional 3,448 shares during the period. Olstein Capital Management L.P. increased its holdings in General Dynamics by 36.4% in the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company's stock worth $4,533,000 after buying an additional 4,000 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in General Dynamics by 10.0% during the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company's stock valued at $11,204,000 after acquiring an additional 3,363 shares in the last quarter. Lummis Asset Management LP lifted its stake in General Dynamics by 32.6% in the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company's stock valued at $3,133,000 after acquiring an additional 2,551 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of General Dynamics by 0.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 588,619 shares of the aerospace company's stock worth $177,881,000 after purchasing an additional 5,069 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the business's 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 sale, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter A. Wall sold 1,320 shares of the firm's 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 directly owns 3,592 shares of the company's stock, valued at $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

General Dynamics Trading Up 0.2 %

General Dynamics stock traded up $0.66 during midday trading on Tuesday, hitting $282.01. 1,057,616 shares of the stock were exchanged, compared to its average volume of 1,112,573. The company has a fifty day simple moving average of $299.91 and a two-hundred day simple moving average of $295.92. The stock has a market capitalization of $77.54 billion, a PE ratio of 21.42, a P/E/G ratio of 1.70 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. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $11.65 billion. During the same period in the previous year, the business posted $3.04 EPS. The business's quarterly revenue was up 10.4% compared to the same quarter last year. Equities research analysts anticipate that General Dynamics Co. will post 13.98 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on GD shares. Morgan Stanley upgraded General Dynamics from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $293.00 to $345.00 in a report on Friday, August 9th. Seaport Res Ptn lowered General Dynamics from a "strong-buy" rating to a "hold" rating in a report on Friday, October 11th. Royal Bank of Canada boosted their target price on shares of General Dynamics from $320.00 to $330.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Sanford C. Bernstein decreased 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 report on Thursday, October 24th. Finally, Citigroup upped their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Seven investment 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $323.69.

General Dynamics 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.