General Dynamics Co. (NYSE:GD) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc reduced its stake in shares of General Dynamics Co. (NYSE:GD - Free Report) by 7.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,920 shares of the aerospace company's stock after selling 4,793 shares during the quarter. Pinnacle Financial Partners Inc's holdings in General Dynamics were worth $18,712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in General Dynamics by 40,389.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company's stock valued at $416,876,000 after acquiring an additional 1,376,065 shares during the period. 1832 Asset Management L.P. grew its holdings in shares of General Dynamics by 2,189.3% in the second quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company's stock worth $108,572,000 after purchasing an additional 357,861 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in General Dynamics by 879.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company's stock valued at $96,148,000 after buying an additional 305,624 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in General Dynamics by 4.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company's stock valued at $2,216,599,000 after buying an additional 293,316 shares during the period. Finally, Hsbc Holdings PLC grew its stake in General Dynamics by 24.2% in the 2nd quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company's stock worth $391,119,000 after acquiring an additional 262,164 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

NYSE GD traded up $1.92 on Wednesday, reaching $313.97. 906,709 shares of the company's stock traded hands, compared to its average volume of 1,093,028. General Dynamics Co. has a fifty-two week low of $243.87 and a fifty-two week high of $316.90. 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 firm has a market cap of $86.33 billion, a price-to-earnings ratio of 24.08, a P/E/G ratio of 1.89 and a beta of 0.61. The stock has a 50 day moving average price of $302.25 and a 200-day moving average price of $296.11.

General Dynamics (NYSE:GD - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts' consensus estimates of $3.48 by ($0.13). The company had revenue of $11.67 billion during 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%. The firm's quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.04 EPS. Equities research analysts predict that General Dynamics Co. will post 13.97 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GD. Seaport Res Ptn lowered General Dynamics from a "strong-buy" rating to a "hold" rating in a report on Friday, October 11th. Susquehanna increased their price target on General Dynamics from $333.00 to $352.00 and gave the stock a "positive" rating in a research report on Thursday, October 17th. Morgan Stanley upgraded shares of General Dynamics from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Citigroup upped their price target on shares of General Dynamics from $331.00 to $354.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company boosted their price target on General Dynamics from $317.00 to $322.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 24th. Seven research 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $323.69.

Insider Activity

In other 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 transaction of $406,626.00. Following the sale, the director now directly owns 3,592 shares of the company's stock, valued at $1,106,515.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.52% of the company's stock.

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.