The Manufacturers Life Insurance Company Has $157.30 Million Position in General Dynamics Co. (NYSE:GD)

The Manufacturers Life Insurance Company trimmed its stake in shares of General Dynamics Co. (NYSE:GD) by 17.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 520,510 shares of the aerospace company’s stock after selling 111,236 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.19% of General Dynamics worth $157,298,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GD. MFA Wealth Advisors LLC lifted its stake in shares of General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 58 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of General Dynamics during the third quarter valued at about $26,000. New Covenant Trust Company N.A. bought a new stake in shares of General Dynamics during the first quarter worth about $29,000. American Capital Advisory LLC acquired a new position in shares of General Dynamics in the second quarter valued at approximately $29,000. Finally, Lowe Wealth Advisors LLC bought a new position in General Dynamics in the 3rd quarter valued at approximately $30,000. Institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. 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. Susquehanna boosted their price objective on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research note on Thursday, October 17th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $323.69.

Insider Transactions at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics 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 approximately $1,106,515.60. The trade was a 26.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the transaction, the vice president now owns 20,296 shares in the company, valued at $5,701,349.36. This represents a 21.44 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

General Dynamics Stock Up 0.2 %

Shares of NYSE GD opened at $282.01 on Wednesday. General Dynamics Co. has a 12-month low of $243.87 and a 12-month high of $316.90. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The firm has a market cap of $77.54 billion, a PE ratio of 21.48, a P/E/G ratio of 1.70 and a beta of 0.61. The company’s fifty day simple moving average is $299.47 and its 200 day simple moving average is $295.82.

General Dynamics (NYSE:GD) last issued its earnings results 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 firm 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 business earned $3.04 earnings per share. The business’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, sell-side analysts forecast that General Dynamics Co. will post 13.98 earnings per share for the current fiscal year.

General Dynamics 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.