General Dynamics Co. (NYSE:GD) Shares Sold by Bank of Hawaii

Bank of Hawaii lessened its stake in General Dynamics Co. (NYSE:GD) by 3.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,013 shares of the aerospace company’s stock after selling 311 shares during the quarter. Bank of Hawaii’s holdings in General Dynamics were worth $2,724,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Daiwa Securities Group Inc. increased its stake in General Dynamics by 17.3% during the third quarter. Daiwa Securities Group Inc. now owns 29,557 shares of the aerospace company’s stock valued at $8,932,000 after purchasing an additional 4,353 shares during the last quarter. Hartford Funds Management Co LLC boosted its holdings 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 valued at $609,000 after buying an additional 386 shares during the period. Summit Trail Advisors LLC grew its position in shares of General Dynamics by 118.4% during the 3rd quarter. Summit Trail Advisors LLC now owns 2,824 shares of the aerospace company’s stock valued at $853,000 after buying an additional 1,531 shares during the last quarter. SevenBridge Financial Group LLC raised its stake in General Dynamics by 4.4% during the third quarter. SevenBridge Financial Group LLC now owns 9,563 shares of the aerospace company’s stock worth $3,002,000 after acquiring an additional 405 shares during the period. Finally, Sompo Asset Management Co. Ltd. lifted its holdings in General Dynamics by 9.7% in the third quarter. Sompo Asset Management Co. Ltd. now owns 6,210 shares of the aerospace company’s stock worth $1,877,000 after acquiring an additional 550 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

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 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 represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

General Dynamics Stock Performance

NYSE:GD opened at $281.81 on Monday. The company has a 50-day moving average of $300.44 and a 200-day moving average of $296.02. The firm has a market cap of $77.49 billion, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 1.70 and a beta of 0.61. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. General Dynamics Co. has a twelve month low of $243.87 and a twelve month high of $316.90.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GD. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Barclays increased their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Sanford C. Bernstein reduced their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Finally, Susquehanna boosted their price objective on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $323.69.

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.