Pitcairn Co. Sells 225 Shares of General Dynamics Co. (NYSE:GD)

Pitcairn Co. lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 10.8% during the 3rd quarter, Holdings Channel reports. The firm owned 1,864 shares of the aerospace company’s stock after selling 225 shares during the period. Pitcairn Co.’s holdings in General Dynamics were worth $563,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC lifted its holdings in shares of General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after buying an additional 58 shares in the last quarter. Hara Capital LLC purchased a new stake in General Dynamics in the 3rd quarter worth $26,000. New Covenant Trust Company N.A. bought a new position in shares of General Dynamics during the 1st quarter valued at about $29,000. American Capital Advisory LLC purchased a new position in shares of General Dynamics during the second quarter valued at about $29,000. Finally, Lowe Wealth Advisors LLC bought a new stake in shares of General Dynamics in the third quarter worth about $30,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GD. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Citigroup upped their price target on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Sanford C. Bernstein decreased their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Finally, Barclays lifted their price target on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Seven investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $323.69.

General Dynamics Trading Down 0.2 %

GD stock opened at $281.30 on Tuesday. General Dynamics Co. has a 12 month low of $243.87 and a 12 month high of $316.90. The firm’s 50-day moving average is $299.91 and its 200 day moving average is $295.92. The company has a market capitalization of $77.35 billion, a PE ratio of 21.42, a P/E/G ratio of 1.70 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 issued its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same period last year, the business posted $3.04 earnings per share. On average, research analysts anticipate that General Dynamics Co. will post 13.98 EPS for the current year.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction 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. This trade represents a 26.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

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.