PNC Financial Services Group Inc. decreased its stake in General Dynamics Co. (NYSE:GD - Free Report) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 216,060 shares of the aerospace company's stock after selling 7,076 shares during the quarter. PNC Financial Services Group Inc. owned about 0.08% of General Dynamics worth $65,293,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in GD. MFA Wealth Advisors LLC boosted its holdings in shares of General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company's stock valued at $25,000 after buying an additional 58 shares in the last quarter. Hara Capital LLC acquired a new position in shares of General Dynamics in the third quarter valued at about $26,000. New Covenant Trust Company N.A. acquired a new stake in shares of General Dynamics during the first quarter worth about $29,000. American Capital Advisory LLC acquired a new position in General Dynamics during the second quarter valued at $29,000. Finally, Lowe Wealth Advisors LLC purchased a new position in shares of General Dynamics during the 3rd quarter valued at approximately $30,000. 86.14% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
GD has been the topic of a number of recent research reports. Citigroup boosted 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. Deutsche Bank Aktiengesellschaft cut their price target on General Dynamics from $309.00 to $306.00 and set a "hold" rating on the stock in a report on Friday, November 1st. Morgan Stanley upgraded General Dynamics from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Wells Fargo & Company increased their price objective on General Dynamics from $317.00 to $322.00 and gave the company an "equal weight" rating in a report on Thursday, October 24th. Finally, Sanford C. Bernstein lowered their price objective 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. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $323.69.
Read Our Latest Stock Report on GD
Insider Activity at General Dynamics
In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business's 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 completion of the transaction, the director now directly owns 3,592 shares of the company's stock, valued at $1,106,515.60. The trade was a 26.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.52% of the stock is currently owned by corporate insiders.
General Dynamics Stock Down 0.3 %
Shares of NYSE:GD opened at $279.98 on Thursday. General Dynamics Co. has a 1 year low of $243.87 and a 1 year high of $316.90. The stock has a 50-day simple moving average of $301.32 and a 200-day simple moving average of $296.16. The stock has a market capitalization of $76.99 billion, a P/E ratio of 21.32, a PEG ratio of 1.70 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32.
General Dynamics (NYSE:GD - Get Free Report) last announced its earnings results 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 net margin of 7.90% and a return on equity of 16.59%. The company had revenue of $11.67 billion for the quarter, compared to analysts' expectations of $11.65 billion. During the same quarter in the previous year, the business posted $3.04 earnings per share. The business's quarterly revenue was up 10.4% compared to the same quarter last year. Equities analysts forecast that General Dynamics Co. will post 13.98 earnings per share for the current year.
General Dynamics Profile
(
Free Report)
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.
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