Valley Wealth Managers Inc. Trims Stock Position in General Dynamics Co. (NYSE:GD)

Valley Wealth Managers Inc. cut its stake in General Dynamics Co. (NYSE:GD) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,615 shares of the aerospace company’s stock after selling 421 shares during the period. Valley Wealth Managers Inc.’s holdings in General Dynamics were worth $4,417,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GD. Olstein Capital Management L.P. increased its stake in General Dynamics by 36.4% in the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after purchasing an additional 4,000 shares during the period. Oppenheimer & Co. Inc. increased its stake in General Dynamics by 10.0% in the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after purchasing an additional 3,363 shares during the period. Lummis Asset Management LP increased its stake in General Dynamics by 32.6% in the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock valued at $3,133,000 after purchasing an additional 2,551 shares during the period. CWC Advisors LLC. acquired a new position in General Dynamics in the third quarter valued at $771,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in General Dynamics by 0.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 588,619 shares of the aerospace company’s stock valued at $177,881,000 after purchasing an additional 5,069 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GD has been the topic of a number of recent research reports. Royal Bank of Canada lifted their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. 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 research note on Thursday, October 10th. Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Barclays boosted their price target on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Finally, Sanford C. Bernstein dropped their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Seven 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’s stock. According to MarketBeat, General Dynamics has an average rating of “Moderate Buy” and a consensus target price of $323.69.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction 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 approximately $1,106,515.60. This trade represents a 26.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.52% of the company’s stock.

General Dynamics Trading Down 2.0 %

GD stock traded down $5.81 on Friday, hitting $286.61. 279,018 shares of the company were exchanged, compared to its average volume of 1,092,623. General Dynamics Co. has a twelve month low of $243.87 and a twelve month high of $316.90. 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 business’s fifty day moving average is $302.55 and its two-hundred day moving average is $296.20. The stock has a market capitalization of $78.81 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 1.90 and a beta of 0.61.

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 the consensus estimate 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 for the quarter, compared to analyst estimates of $11.65 billion. During the same period last year, the company posted $3.04 EPS. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, research analysts forecast that General Dynamics Co. will post 13.97 earnings per share for the current year.

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.