General Dynamics Co. (NYSE:GD) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 2.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 14,615 shares of the aerospace company’s stock after selling 421 shares during the period. Valley Wealth Managers Inc.’s holdings in General Dynamics were worth $4,417,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. Empowered Funds LLC boosted its stake in shares of General Dynamics by 3.6% during the 3rd quarter. Empowered Funds LLC now owns 8,406 shares of the aerospace company’s stock worth $2,540,000 after acquiring an additional 292 shares in the last quarter. Empirical Finance LLC lifted its stake in General Dynamics by 2.1% in the 3rd quarter. Empirical Finance LLC now owns 7,851 shares of the aerospace company’s stock valued at $2,373,000 after buying an additional 165 shares in the last quarter. First Business Financial Services Inc. lifted its stake in General Dynamics by 9.6% in the 3rd quarter. First Business Financial Services Inc. now owns 6,244 shares of the aerospace company’s stock valued at $1,887,000 after buying an additional 547 shares in the last quarter. Dearborn Partners LLC lifted its stake in General Dynamics by 0.3% in the 3rd quarter. Dearborn Partners LLC now owns 57,065 shares of the aerospace company’s stock valued at $17,245,000 after buying an additional 173 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in General Dynamics by 10.9% in the 3rd quarter. CIBC Asset Management Inc now owns 56,517 shares of the aerospace company’s stock valued at $17,069,000 after buying an additional 5,536 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GD shares. Wells Fargo & Company raised their target price on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a report on Friday, November 1st. Susquehanna raised their price target on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Barclays raised their price target on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Finally, Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.69.

Insider Transactions at General Dynamics

In other 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 transaction of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The trade was a 26.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Stock Down 2.0 %

GD stock traded down $5.81 during midday trading on Friday, hitting $286.61. The company’s stock had a trading volume of 279,018 shares, compared to its average volume of 1,092,623. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. General Dynamics Co. has a 52-week low of $243.87 and a 52-week high of $316.90. The firm has a market capitalization of $78.81 billion, a P/E ratio of 22.39, a PEG ratio of 1.90 and a beta of 0.61. The firm has a 50-day simple moving average of $302.55 and a 200-day simple moving average of $296.20.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $11.65 billion. During the same period in the prior year, the business earned $3.04 EPS. The business’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, equities analysts forecast that General Dynamics Co. will post 13.97 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.