General Dynamics Co. (NYSE:GD) Shares Sold by Strategy Asset Managers LLC

Strategy Asset Managers LLC lessened its stake in General Dynamics Co. (NYSE:GD - Free Report) by 15.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 23,208 shares of the aerospace company's stock after selling 4,226 shares during the period. General Dynamics comprises approximately 1.3% of Strategy Asset Managers LLC's portfolio, making the stock its 21st largest position. Strategy Asset Managers LLC's holdings in General Dynamics were worth $7,013,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Olstein Capital Management L.P. lifted its position in shares of General Dynamics by 36.4% during the 3rd 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. Fifth Third Wealth Advisors LLC lifted its position in General Dynamics by 67.6% in the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company's stock valued at $2,583,000 after acquiring an additional 3,448 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of General Dynamics by 10.0% during the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company's stock worth $11,204,000 after purchasing an additional 3,363 shares in the last quarter. Lummis Asset Management LP lifted its holdings in shares of General Dynamics by 32.6% in the 3rd quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company's stock valued at $3,133,000 after purchasing an additional 2,551 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in 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 buying an additional 5,069 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now owns 3,592 shares of the company's stock, valued at $1,106,515.60. The trade was a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GD. Susquehanna boosted their target price 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 raised shares of General Dynamics from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Wells Fargo & Company lifted their price objective on General Dynamics from $317.00 to $322.00 and gave the stock an "equal weight" rating in a report on Thursday, October 24th. Royal Bank of Canada lifted their price target on shares of General Dynamics from $320.00 to $330.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Finally, Seaport Res Ptn lowered General Dynamics from a "strong-buy" rating to a "hold" rating in a report on Friday, October 11th. Seven 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 data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $323.69.

General Dynamics Stock Performance

Shares of General Dynamics stock traded down $1.94 on Wednesday, hitting $279.02. 572,068 shares of the company's stock were exchanged, compared to its average volume of 1,102,322. The company has a 50-day simple moving average of $301.71 and a 200-day simple moving average of $296.28. The stock has a market capitalization of $76.72 billion, a PE ratio of 21.40, a PEG ratio of 1.74 and a beta of 0.61. General Dynamics Co. has a 1 year low of $243.87 and a 1 year 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.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business 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 firm earned $3.04 EPS. General Dynamics's revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts anticipate that General Dynamics Co. will post 13.98 EPS for the current year.

About General Dynamics

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.