Private Advisor Group LLC Sells 3,189 Shares of General Dynamics Co. (GD)

Private Advisor Group LLC lessened its stake in shares of General Dynamics Co. (NYSE:GD) by 15.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 17,257 shares of the aerospace company’s stock after selling 3,189 shares during the period. Private Advisor Group LLC’s holdings in General Dynamics were worth $3,533,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GD. Northwestern Mutual Wealth Management Co. boosted its stake in shares of General Dynamics by 38.7% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 70,372 shares of the aerospace company’s stock worth $14,406,000 after acquiring an additional 19,652 shares during the period. Parallel Advisors LLC boosted its stake in shares of General Dynamics by 22.7% in the third quarter. Parallel Advisors LLC now owns 2,261 shares of the aerospace company’s stock worth $463,000 after acquiring an additional 418 shares during the period. Victory Capital Management Inc. boosted its stake in shares of General Dynamics by 38.0% in the third quarter. Victory Capital Management Inc. now owns 28,244 shares of the aerospace company’s stock worth $5,782,000 after acquiring an additional 7,774 shares during the period. Valeo Financial Advisors LLC boosted its stake in shares of General Dynamics by 16.0% in the third quarter. Valeo Financial Advisors LLC now owns 3,424 shares of the aerospace company’s stock worth $591,000 after acquiring an additional 472 shares during the period. Finally, Greatmark Investment Partners Inc. bought a new position in General Dynamics during the third quarter valued at approximately $205,000. 85.84% of the stock is owned by institutional investors and hedge funds.

GD has been the subject of a number of research reports. Cowen reissued a “buy” rating and set a $253.00 price target on shares of General Dynamics in a research note on Monday, October 15th. Credit Suisse Group dropped their price target on General Dynamics from $229.00 to $216.00 and set an “outperform” rating for the company in a research note on Thursday, October 25th. Bank of America set a $275.00 price target on General Dynamics and gave the company a “buy” rating in a research note on Tuesday, July 31st. Robert W. Baird dropped their price target on General Dynamics from $243.00 to $222.00 and set an “outperform” rating for the company in a research note on Thursday, October 25th. Finally, Wells Fargo & Co dropped their price target on General Dynamics from $250.00 to $210.00 and set an “outperform” rating for the company in a research note on Thursday, October 25th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. General Dynamics presently has an average rating of “Hold” and a consensus price target of $231.00.

GD opened at $184.56 on Friday. The firm has a market cap of $53.96 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 1.45 and a beta of 0.98. General Dynamics Co. has a 52 week low of $164.76 and a 52 week high of $230.00. The company has a current ratio of 1.27, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 24th. The aerospace company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.13. The business had revenue of $9.09 billion for 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%. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.52 EPS. On average, equities research analysts forecast that General Dynamics Co. will post 11.3 EPS for the current fiscal year.

In other news, insider John Patrick Casey sold 22,500 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 118,555 shares of the company’s stock, valued at approximately $22,914,310.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider S. Daniel Johnson sold 77,810 shares of the firm’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $199.85, for a total value of $15,550,328.50. Following the completion of the sale, the insider now directly owns 99,333 shares of the company’s stock, valued at approximately $19,851,700.05. The disclosure for this sale can be found here. 6.70% of the stock is owned by company insiders.

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General Dynamics Profile

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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