General Dynamics Co. (NYSE:GD) Stock Holdings Reduced by MAI Capital Management

MAI Capital Management cut its position in shares of General Dynamics Co. (NYSE:GD) by 14.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,891 shares of the aerospace company’s stock after selling 1,540 shares during the period. MAI Capital Management’s holdings in General Dynamics were worth $2,687,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Acadian Asset Management LLC increased its position in General Dynamics by 59.1% during the first quarter. Acadian Asset Management LLC now owns 2,377 shares of the aerospace company’s stock worth $670,000 after buying an additional 883 shares during the last quarter. Edgestream Partners L.P. increased its holdings in shares of General Dynamics by 116.2% during the 1st quarter. Edgestream Partners L.P. now owns 2,662 shares of the aerospace company’s stock valued at $752,000 after acquiring an additional 1,431 shares during the last quarter. Clearbridge Investments LLC bought a new position in shares of General Dynamics in the 1st quarter valued at approximately $493,000. Bessemer Group Inc. lifted its holdings in General Dynamics by 16.8% in the 1st quarter. Bessemer Group Inc. now owns 14,114 shares of the aerospace company’s stock worth $3,989,000 after purchasing an additional 2,031 shares during the last quarter. Finally, Lake Street Advisors Group LLC boosted its position in General Dynamics by 35.2% during the first quarter. Lake Street Advisors Group LLC now owns 3,052 shares of the aerospace company’s stock worth $862,000 after purchasing an additional 794 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Susquehanna upped their price target on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a report on Thursday, October 17th. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Wells Fargo & Company lifted their price target on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Finally, Citigroup upped their price target on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $323.69.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

General Dynamics Price Performance

Shares of General Dynamics stock opened at $280.98 on Wednesday. The firm has a market cap of $77.26 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 1.74 and a beta of 0.61. The firm’s 50-day simple moving average is $301.71 and its 200-day simple moving average is $296.28. 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 quick ratio of 0.80 and a current ratio of 1.32.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.04 earnings per share. As a group, research analysts expect that General Dynamics Co. will post 13.98 EPS for the current fiscal year.

About General Dynamics

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.