Mizuho Markets Americas LLC Cuts Holdings in General Dynamics Co. (NYSE:GD)

Mizuho Markets Americas LLC decreased its position in General Dynamics Co. (NYSE:GD) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,412 shares of the aerospace company’s stock after selling 813 shares during the period. Mizuho Markets Americas LLC’s holdings in General Dynamics were worth $6,169,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GD. MFA Wealth Advisors LLC raised its stake in shares of General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after buying an additional 58 shares during the period. Hara Capital LLC purchased a new stake in General Dynamics during the third quarter valued at about $26,000. New Covenant Trust Company N.A. bought a new position in General Dynamics during the first quarter worth about $29,000. American Capital Advisory LLC purchased a new position in shares of General Dynamics in the second quarter worth about $29,000. Finally, Lowe Wealth Advisors LLC purchased a new stake in shares of General Dynamics during the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup lifted their price target on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley raised 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 research note on Friday, August 9th. Susquehanna upped their target price on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research note on Thursday, October 17th. TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company boosted their price objective on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $323.69.

General Dynamics Trading Down 1.5 %

GD opened at $288.01 on Friday. 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 stock’s fifty day moving average is $302.45 and its two-hundred day moving average is $296.21. The company has a market capitalization of $79.19 billion, a P/E ratio of 21.93, a PEG ratio of 1.90 and a beta of 0.61. General Dynamics Co. has a 52 week low of $243.87 and a 52 week high of $316.90.

General Dynamics (NYSE:GD) last released 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). The firm had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.04 earnings per share. Analysts forecast that General Dynamics Co. will post 13.97 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 stock in a transaction on 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 owns 3,592 shares in the company, valued at $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.52% of the company’s stock.

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.