Brown Brothers Harriman & Co. Sells 5,519 Shares of General Dynamics Co. (NYSE:GD)

Brown Brothers Harriman & Co. lowered its holdings in shares of General Dynamics Co. (NYSE:GD) by 65.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,871 shares of the aerospace company’s stock after selling 5,519 shares during the period. Brown Brothers Harriman & Co.’s holdings in General Dynamics were worth $868,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. DRW Securities LLC purchased a new stake in shares of General Dynamics in the 3rd quarter worth approximately $656,000. Independent Advisor Alliance grew its stake in shares of General Dynamics by 12.9% in the third quarter. Independent Advisor Alliance now owns 23,373 shares of the aerospace company’s stock worth $7,063,000 after acquiring an additional 2,662 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in shares of General Dynamics by 56.0% during the third quarter. Dynamic Technology Lab Private Ltd now owns 15,494 shares of the aerospace company’s stock valued at $4,682,000 after acquiring an additional 5,559 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of General Dynamics by 17.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 29,557 shares of the aerospace company’s stock worth $8,932,000 after purchasing an additional 4,353 shares during the last quarter. Finally, Hartford Funds Management Co LLC raised its position in shares of General Dynamics by 23.7% in the 3rd quarter. Hartford Funds Management Co LLC now owns 2,016 shares of the aerospace company’s stock worth $609,000 after purchasing an additional 386 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Up 0.2 %

Shares of GD stock opened at $282.01 on Wednesday. General Dynamics Co. has a 1 year low of $243.87 and a 1 year high of $316.90. The firm has a fifty day moving average price of $299.47 and a 200-day moving average price of $295.82. The company has a market cap of $77.54 billion, a price-to-earnings ratio of 21.48, a PEG 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 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 return on equity of 16.59% and a net margin of 7.90%. The company had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter in the previous year, the company earned $3.04 EPS. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts predict that General Dynamics Co. will post 13.98 earnings per share for the current year.

Insider Buying and Selling

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the sale, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $406,626.00. Following the sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on GD. Wells Fargo & Company raised their price objective 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. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Barclays increased their target price on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, Sanford C. Bernstein dropped their price objective on 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. 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. According to data from MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and a consensus 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.