Sawgrass Asset Management LLC Sells 71 Shares of General Dynamics Co. (NYSE:GD)

Sawgrass Asset Management LLC trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 1.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 4,456 shares of the aerospace company’s stock after selling 71 shares during the period. Sawgrass Asset Management LLC’s holdings in General Dynamics were worth $1,347,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. WESPAC Advisors SoCal LLC increased its position in shares of General Dynamics by 3.4% during the 3rd quarter. WESPAC Advisors SoCal LLC now owns 19,120 shares of the aerospace company’s stock worth $5,778,000 after purchasing an additional 627 shares in the last quarter. Natixis Advisors LLC increased its position in shares of General Dynamics by 2.8% during the 3rd quarter. Natixis Advisors LLC now owns 266,337 shares of the aerospace company’s stock worth $80,487,000 after purchasing an additional 7,239 shares in the last quarter. Mizuho Securities USA LLC increased its position in shares of General Dynamics by 105.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 36,094 shares of the aerospace company’s stock worth $10,908,000 after purchasing an additional 18,568 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of General Dynamics by 4.1% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,635 shares of the aerospace company’s stock worth $2,307,000 after purchasing an additional 302 shares in the last quarter. Finally, Kentucky Retirement Systems increased its position in shares of General Dynamics by 4.9% during the 3rd quarter. Kentucky Retirement Systems now owns 17,965 shares of the aerospace company’s stock worth $5,429,000 after purchasing an additional 832 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Down 1.5 %

General Dynamics stock opened at $287.99 on Friday. The company’s 50 day simple moving average is $302.45 and its 200 day simple moving average is $296.27. General Dynamics Co. has a fifty-two week low of $243.87 and a fifty-two week high of $316.90. The firm has a market capitalization of $79.19 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.74 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The firm had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same period in the previous year, the business earned $3.04 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Dynamics Co. will post 13.98 EPS for the current year.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GD has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research report on Friday, November 1st. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Citigroup raised their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada raised their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $323.69.

General Dynamics Company Profile

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.