Studio Investment Management LLC Sells 95 Shares of General Dynamics Co. (NYSE:GD)

Studio Investment Management LLC cut its position in General Dynamics Co. (NYSE:GD) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,416 shares of the aerospace company’s stock after selling 95 shares during the quarter. General Dynamics comprises about 1.6% of Studio Investment Management LLC’s holdings, making the stock its 13th largest position. Studio Investment Management LLC’s holdings in General Dynamics were worth $7,379,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GD. Acadian Asset Management LLC raised its position in shares of General Dynamics by 59.1% in the first quarter. Acadian Asset Management LLC now owns 2,377 shares of the aerospace company’s stock valued at $670,000 after purchasing an additional 883 shares during the period. Clearbridge Investments LLC bought a new stake in General Dynamics during the 1st quarter valued at $493,000. Canada Pension Plan Investment Board lifted its position in shares of General Dynamics by 33.8% during the first quarter. Canada Pension Plan Investment Board now owns 199,644 shares of the aerospace company’s stock worth $56,397,000 after acquiring an additional 50,426 shares in the last quarter. Kestra Advisory Services LLC boosted its holdings in shares of General Dynamics by 27.2% in the first quarter. Kestra Advisory Services LLC now owns 49,666 shares of the aerospace company’s stock worth $14,030,000 after acquiring an additional 10,631 shares during the period. Finally, BOKF NA grew its position in shares of General Dynamics by 51.3% in the first quarter. BOKF NA now owns 61,625 shares of the aerospace company’s stock valued at $17,967,000 after purchasing an additional 20,907 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on GD shares. Wells Fargo & Company raised their target price on 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 decreased their price target on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Sanford C. Bernstein dropped their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Susquehanna raised their price target on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Finally, Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $323.69.

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 stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following 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 legal filing with the SEC, which can be accessed through this link. 1.52% of the stock is currently owned by insiders.

General Dynamics Trading Down 0.1 %

NYSE:GD opened at $279.70 on Friday. The firm has a market capitalization of $76.91 billion, a P/E ratio of 21.30, a P/E/G ratio of 1.70 and a beta of 0.61. The company has a fifty day moving average of $300.90 and a 200 day moving average of $296.05. 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.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The business had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.04 EPS. On average, research analysts predict that General Dynamics Co. will post 13.98 earnings per share for the current year.

General Dynamics 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.