General Dynamics Corporation $GD Position Lessened by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its position in General Dynamics Corporation (NYSE:GD - Free Report) by 8.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 117,660 shares of the aerospace company's stock after selling 10,800 shares during the period. Commonwealth Equity Services LLC's holdings in General Dynamics were worth $39,043,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GD. Pathway Financial Advisers LLC grew its holdings in shares of General Dynamics by 0.7% in the 3rd quarter. Pathway Financial Advisers LLC now owns 6,827 shares of the aerospace company's stock worth $2,265,000 after acquiring an additional 50 shares during the last quarter. Sageworth Trust Co acquired a new stake in shares of General Dynamics during the third quarter worth $335,000. Chicago Partners Investment Group LLC lifted its holdings in shares of General Dynamics by 32.2% during the third quarter. Chicago Partners Investment Group LLC now owns 11,588 shares of the aerospace company's stock valued at $4,048,000 after purchasing an additional 2,823 shares during the last quarter. Sound Financial Strategies Group LLC lifted its holdings in shares of General Dynamics by 49.6% during the third quarter. Sound Financial Strategies Group LLC now owns 1,270 shares of the aerospace company's stock valued at $421,000 after purchasing an additional 421 shares during the last quarter. Finally, Caldwell Trust Co boosted its position in shares of General Dynamics by 3.8% in the 3rd quarter. Caldwell Trust Co now owns 4,669 shares of the aerospace company's stock valued at $1,549,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 86.14% of the company's stock.

Insider Activity

In other news, Director Robert K. Steel sold 7,440 shares of the stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $346.05, for a total transaction of $2,574,612.00. Following the transaction, the director owned 3,096 shares of the company's stock, valued at approximately $1,071,370.80. This represents a 70.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.40% of the company's stock.

General Dynamics Price Performance

NYSE GD opened at $353.88 on Monday. The company has a quick ratio of 0.94, a current ratio of 1.43 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $95.63 billion, a PE ratio of 20.82, a price-to-earnings-growth ratio of 1.99 and a beta of 0.30. General Dynamics Corporation has a 12-month low of $306.77 and a 12-month high of $400.00. The company has a 50 day moving average price of $349.76 and a two-hundred day moving average price of $355.05.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly earnings results on Friday, October 30th. The aerospace company reported $4.49 EPS for the quarter, topping the consensus estimate of $4.12 by $0.37. General Dynamics had a net margin of 8.24% and a return on equity of 17.60%. The company had revenue of $14.57 billion for the quarter, compared to analyst estimates of $13.72 billion. During the same quarter in the prior year, the business posted $3.88 EPS. General Dynamics's quarterly revenue was up 12.9% on a year-over-year basis. As a group, equities analysts predict that General Dynamics Corporation will post 17.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GD shares. Susquehanna boosted their price objective on General Dynamics from $420.00 to $455.00 and gave the stock a "positive" rating in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $384.00 price objective on shares of General Dynamics in a research note on Thursday, July 30th. UBS Group raised their target price on shares of General Dynamics from $395.00 to $408.00 and gave the stock a "neutral" rating in a report on Tuesday, September 8th. Royal Bank Of Canada lifted their target price on shares of General Dynamics from $360.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Monday, November 2nd. Finally, Jefferies Financial Group restated a "buy" rating and set a $455.00 price target on shares of General Dynamics in a report on Monday, November 2nd. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, General Dynamics has a consensus rating of "Moderate Buy" and a consensus price target of $408.94.

General Dynamics Company Profile

General Dynamics Corporation is an aerospace and defense company that develops and manufactures products and provides services for commercial, government and military customers. Its businesses span aerospace, marine systems, combat systems and defense technologies.

The company makes Gulfstream business jets and provides aircraft services. Its marine systems operations design and build submarines and surface ships, while its combat systems business produces military vehicles, weapons systems and munitions.

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