Raymond James Financial Services Advisors Inc. trimmed its position in shares of General Dynamics Corporation (NYSE:GD) by 44.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,833 shares of the aerospace company’s stock after selling 51,006 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in General Dynamics were worth $12,918,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its stake in shares of General Dynamics by 2,645.5% during the first quarter. BlackRock Inc. now owns 15,509,344 shares of the aerospace company’s stock valued at $2,903,351,000 after purchasing an additional 14,944,453 shares during the period. Janus Henderson Group PLC lifted its stake in General Dynamics by 44,941.4% in the second quarter. Janus Henderson Group PLC now owns 4,998,693 shares of the aerospace company’s stock worth $990,241,000 after acquiring an additional 4,987,595 shares during the period. Vanguard Group Inc. lifted its stake in General Dynamics by 4.7% in the first quarter. Vanguard Group Inc. now owns 19,799,817 shares of the aerospace company’s stock worth $3,706,525,000 after acquiring an additional 894,177 shares during the period. Janus Capital Management LLC lifted its stake in General Dynamics by 22.1% in the first quarter. Janus Capital Management LLC now owns 4,148,390 shares of the aerospace company’s stock worth $776,563,000 after acquiring an additional 749,793 shares during the period. Finally, Capital Research Global Investors lifted its stake in General Dynamics by 4.5% in the second quarter. Capital Research Global Investors now owns 16,792,408 shares of the aerospace company’s stock worth $3,326,576,000 after acquiring an additional 725,896 shares during the period. 86.87% of the stock is owned by institutional investors.
In related news, insider John Patrick Casey sold 34,945 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total value of $7,037,224.10. Following the completion of the transaction, the insider now directly owns 144,378 shares of the company’s stock, valued at approximately $29,074,841.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Gregory S. Gallopoulos sold 78,370 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $202.93, for a total value of $15,903,624.10. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
Shares of General Dynamics Corporation (NYSE GD) traded down $0.95 during midday trading on Monday, reaching $201.69. The company had a trading volume of 1,705,994 shares, compared to its average volume of 1,150,014. The stock has a market capitalization of $60,220.00, a price-to-earnings ratio of 20.12, a P/E/G ratio of 2.43 and a beta of 0.72. General Dynamics Corporation has a 52-week low of $168.00 and a 52-week high of $214.81. The company has a current ratio of 1.37, a quick ratio of 0.93 and a debt-to-equity ratio of 0.34.
General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, October 25th. The aerospace company reported $2.52 EPS for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.09. General Dynamics had a return on equity of 27.98% and a net margin of 9.94%. The firm had revenue of $7.58 billion for the quarter, compared to analyst estimates of $7.94 billion. During the same quarter in the prior year, the firm earned $2.36 earnings per share. General Dynamics’s revenue for the quarter was down 1.0% on a year-over-year basis. sell-side analysts anticipate that General Dynamics Corporation will post 9.81 earnings per share for the current year.
GD has been the subject of a number of research reports. Credit Suisse Group reaffirmed an “outperform” rating and issued a $238.00 price objective (up from $216.00) on shares of General Dynamics in a research note on Thursday, October 26th. ValuEngine raised shares of General Dynamics from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Stifel Nicolaus upped their price objective on shares of General Dynamics from $200.00 to $210.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Zacks Investment Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Finally, Royal Bank Of Canada set a $239.00 target price on shares of General Dynamics and gave the stock a “buy” rating in a report on Wednesday, November 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $218.45.
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About General Dynamics
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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