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

Sawgrass Asset Management LLC lowered its stake in General Dynamics Co. (NYSE:GD) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,456 shares of the aerospace company’s stock after selling 71 shares during the quarter. Sawgrass Asset Management LLC’s holdings in General Dynamics were worth $1,347,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of GD. WESPAC Advisors SoCal LLC raised its holdings in shares of General Dynamics by 3.4% in the third quarter. WESPAC Advisors SoCal LLC now owns 19,120 shares of the aerospace company’s stock valued at $5,778,000 after purchasing an additional 627 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of General Dynamics by 2.8% in the third quarter. Natixis Advisors LLC now owns 266,337 shares of the aerospace company’s stock valued at $80,487,000 after purchasing an additional 7,239 shares during the last quarter. Mizuho Securities USA LLC raised its holdings in shares of General Dynamics by 105.9% in the third quarter. Mizuho Securities USA LLC now owns 36,094 shares of the aerospace company’s stock valued at $10,908,000 after purchasing an additional 18,568 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of General Dynamics by 4.1% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,635 shares of the aerospace company’s stock valued at $2,307,000 after purchasing an additional 302 shares during the last quarter. Finally, Kentucky Retirement Systems raised its holdings in shares of General Dynamics by 4.9% in the third quarter. Kentucky Retirement Systems now owns 17,965 shares of the aerospace company’s stock valued at $5,429,000 after purchasing an additional 832 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup lifted their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $293.00 to $345.00 in a report on Friday, August 9th. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Wells Fargo & Company boosted their target price on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Finally, Sanford C. Bernstein lowered 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 report on Thursday, October 24th. Seven research 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 a consensus rating of “Moderate Buy” and a consensus target price of $323.69.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of the business’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 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 legal filing with the SEC, which can be accessed through this link. 1.52% of the stock is currently owned by company insiders.

General Dynamics Price Performance

NYSE:GD opened at $287.99 on Friday. General Dynamics Co. has a one year low of $243.87 and a one year high of $316.90. The company has a market cap of $79.19 billion, a P/E ratio of 21.93, a P/E/G ratio of 1.74 and a beta of 0.61. The firm’s fifty day moving average price is $302.45 and its two-hundred day moving average price is $296.27. 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 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the prior year, the firm earned $3.04 earnings per share. General Dynamics’s revenue for the quarter was up 10.4% on a year-over-year basis. Equities analysts expect that General Dynamics Co. will post 13.98 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.