General Dynamics Co. (GD) Stake Lowered by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. lessened its position in General Dynamics Co. (NYSE:GD) by 8.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,115 shares of the aerospace company’s stock after selling 2,257 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in General Dynamics were worth $5,141,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the company. Usca Ria LLC lifted its position in General Dynamics by 35.7% during the 3rd quarter. Usca Ria LLC now owns 2,498 shares of the aerospace company’s stock worth $511,000 after buying an additional 657 shares in the last quarter. Zions Bancorporation acquired a new position in General Dynamics during the 3rd quarter valued at about $109,000. Commerce Bank lifted its position in General Dynamics by 1.3% during the 3rd quarter. Commerce Bank now owns 34,203 shares of the aerospace company’s stock valued at $7,002,000 after purchasing an additional 432 shares during the period. HMS Capital Management LLC acquired a new position in General Dynamics during the 3rd quarter valued at about $210,000. Finally, Daiwa Securities Group Inc. lifted its position in General Dynamics by 67.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 44,750 shares of the aerospace company’s stock valued at $9,161,000 after purchasing an additional 18,090 shares during the period. Institutional investors own 85.84% of the company’s stock.

In other General Dynamics news, Director Mark Malcolm bought 3,000 shares of the stock in a transaction that occurred on Friday, October 26th. The stock was acquired at an average cost of $169.87 per share, with a total value of $509,610.00. Following the purchase, the director now owns 4,455 shares in the company, valued at $756,770.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Patrick Casey sold 22,500 shares of the stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $193.28, for a total value of $4,348,800.00. Following the sale, the insider now directly owns 118,555 shares of the company’s stock, valued at $22,914,310.40. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.

Shares of GD stock opened at $184.50 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.27 and a quick ratio of 0.87. The stock has a market capitalization of $54.66 billion, a PE ratio of 16.99, a P/E/G ratio of 1.47 and a beta of 0.98. General Dynamics Co. has a one year low of $164.76 and a one year high of $230.00.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.13. The company had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $9.41 billion. General Dynamics had a return on equity of 27.22% and a net margin of 9.01%. General Dynamics’s revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.52 EPS. As a group, sell-side analysts expect that General Dynamics Co. will post 11.3 earnings per share for the current fiscal year.

A number of research firms have issued reports on GD. Argus cut their target price on shares of General Dynamics from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Friday, October 26th. Stifel Nicolaus cut their target price on shares of General Dynamics from $210.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday, October 26th. Robert W. Baird cut their target price on shares of General Dynamics from $243.00 to $222.00 and set an “outperform” rating on the stock in a research report on Thursday, October 25th. Citigroup cut their target price on shares of General Dynamics from $210.00 to $195.00 and set a “neutral” rating on the stock in a research report on Thursday, October 25th. Finally, Wells Fargo & Co cut their target price on shares of General Dynamics from $250.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, October 25th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $231.00.

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About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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