Sigma Planning Corp Cuts Stock Position in General Dynamics Co. (NYSE:GD)

Sigma Planning Corp trimmed its holdings in General Dynamics Co. (NYSE:GD) by 24.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,103 shares of the aerospace company’s stock after selling 2,270 shares during the period. Sigma Planning Corp’s holdings in General Dynamics were worth $2,147,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in GD. Massachusetts Financial Services Co. MA increased its holdings in shares of General Dynamics by 4.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after purchasing an additional 293,316 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in General Dynamics by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after buying an additional 115,063 shares in the last quarter. Ameriprise Financial Inc. increased its stake in General Dynamics by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock worth $601,756,000 after acquiring an additional 47,915 shares during the last quarter. Boston Partners raised its holdings in shares of General Dynamics by 1.4% during the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock worth $474,927,000 after acquiring an additional 23,262 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of General Dynamics by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock valued at $466,049,000 after acquiring an additional 23,304 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value 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 $1,106,515.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their target price 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. Susquehanna increased their price target on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a report on Thursday, October 17th. Citigroup boosted their price objective on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley raised 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 note on Friday, August 9th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, General Dynamics has an average rating of “Moderate Buy” and a consensus target price of $323.69.

General Dynamics Price Performance

General Dynamics stock opened at $313.91 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The stock has a market cap of $86.32 billion, a price-to-earnings ratio of 23.57, a price-to-earnings-growth ratio of 1.87 and a beta of 0.61. The firm has a 50-day moving average of $301.62 and a two-hundred day moving average of $295.71. General Dynamics Co. has a 1 year low of $243.52 and a 1 year high of $315.93.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The firm had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the company earned $3.04 EPS. On average, research analysts forecast that General Dynamics Co. will post 13.97 earnings per share 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.