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

Studio Investment Management LLC reduced its stake in General Dynamics Co. (NYSE:GD) by 0.4% during the third quarter, HoldingsChannel.com reports. The firm owned 24,416 shares of the aerospace company’s stock after selling 95 shares during the quarter. General Dynamics makes up about 1.6% of Studio Investment Management LLC’s portfolio, making the stock its 13th largest holding. Studio Investment Management LLC’s holdings in General Dynamics were worth $7,379,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allen Capital Group LLC raised its holdings in General Dynamics by 14.7% in the third quarter. Allen Capital Group LLC now owns 1,589 shares of the aerospace company’s stock worth $480,000 after buying an additional 204 shares during the last quarter. Raymond James Trust N.A. raised its holdings in General Dynamics by 2.2% in the 3rd quarter. Raymond James Trust N.A. now owns 22,293 shares of the aerospace company’s stock worth $6,737,000 after acquiring an additional 473 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in General Dynamics by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,537,149 shares of the aerospace company’s stock valued at $464,526,000 after acquiring an additional 114,461 shares in the last quarter. Blackhawk Capital Partners LLC. increased its holdings in shares of General Dynamics by 1.9% in the 3rd quarter. Blackhawk Capital Partners LLC. now owns 4,285 shares of the aerospace company’s stock worth $1,295,000 after purchasing an additional 80 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of General Dynamics by 35.8% during the third quarter. Pacer Advisors Inc. now owns 32,674 shares of the aerospace company’s stock valued at $9,874,000 after purchasing an additional 8,612 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Down 0.1 %

General Dynamics stock opened at $279.70 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. General Dynamics Co. has a 12-month low of $243.87 and a 12-month high of $316.90. The firm has a 50 day moving average of $300.90 and a 200 day moving average of $296.05. The firm has a market capitalization of $76.91 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 1.70 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its quarterly 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). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same period in the prior year, the business earned $3.04 earnings per share. General Dynamics’s revenue was up 10.4% compared to the same quarter last year. As a group, research analysts predict that General Dynamics Co. will post 13.98 earnings per share for the current year.

Insider Transactions at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Sanford C. Bernstein dropped 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. Wells Fargo & Company boosted their target price on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $323.69.

General Dynamics Company 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.