Primecap Management Co. CA Cuts Stock Holdings in General Dynamics Co. (NYSE:GD)

Primecap Management Co. CA reduced its position in shares of General Dynamics Co. (NYSE:GD - Free Report) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 798,440 shares of the aerospace company's stock after selling 8,010 shares during the period. Primecap Management Co. CA owned 0.29% of General Dynamics worth $241,289,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. MFA Wealth Advisors LLC boosted its holdings in shares of 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 during the last quarter. Hara Capital LLC acquired a new position in General Dynamics in the third quarter valued at approximately $26,000. American Capital Advisory LLC purchased a new stake in General Dynamics in the second quarter valued at approximately $29,000. Lowe Wealth Advisors LLC purchased a new stake in General Dynamics in the third quarter valued at approximately $30,000. Finally, New Covenant Trust Company N.A. purchased a new stake in shares of General Dynamics during the first quarter worth $29,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 26.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.52% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GD has been the topic of several recent analyst reports. Barclays increased their target price on General Dynamics from $325.00 to $330.00 and gave the company an "overweight" rating in a report on Tuesday, October 29th. Sanford C. Bernstein decreased their price objective on shares of General Dynamics from $343.00 to $331.00 and set a "market perform" rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company upped their price objective on shares of General Dynamics from $317.00 to $322.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. Susquehanna upped their price objective on shares of General Dynamics from $333.00 to $352.00 and gave the company a "positive" rating in a research note on Thursday, October 17th. Finally, Seaport Res Ptn downgraded shares of General Dynamics from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 11th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $323.69.

General Dynamics Trading Down 0.3 %

Shares of GD opened at $279.98 on Thursday. 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 50 day simple moving average of $301.32 and a 200-day simple moving average of $296.16. General Dynamics Co. has a 1-year low of $243.87 and a 1-year high of $316.90. The stock has a market cap of $76.99 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 1.70 and a beta of 0.61.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $11.65 billion. During the same period last year, the business earned $3.04 earnings per share. The company's revenue for the quarter was up 10.4% on a year-over-year basis. Equities analysts forecast that General Dynamics Co. will post 13.98 EPS for the current fiscal 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.

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