Douglass Winthrop Advisors LLC Cuts Position in General Dynamics Co. (NYSE:GD)

Douglass Winthrop Advisors LLC trimmed its position in shares of General Dynamics Co. (NYSE:GD) by 11.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 795 shares of the aerospace company’s stock after selling 100 shares during the period. Douglass Winthrop Advisors LLC’s holdings in General Dynamics were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. MFA Wealth Advisors LLC increased its position in General Dynamics by 241.7% during the third 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 purchased a new stake in General Dynamics in the 3rd quarter worth about $26,000. New Covenant Trust Company N.A. bought a new stake in General Dynamics in the first quarter worth about $29,000. American Capital Advisory LLC purchased a new position in shares of General Dynamics during the second quarter valued at approximately $29,000. Finally, Lowe Wealth Advisors LLC bought a new position in shares of General Dynamics during the third quarter valued at approximately $30,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Wells Fargo & Company upped their price objective on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Susquehanna upped their price target on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Sanford C. Bernstein decreased their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft dropped their target price 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, Royal Bank of Canada lifted their price target 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. Seven investment 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $323.69.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of the business’s 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

General Dynamics Trading Down 0.2 %

Shares of NYSE GD opened at $281.30 on Tuesday. The business has a fifty day moving average price of $299.91 and a 200 day moving average price of $295.92. General Dynamics Co. has a 1-year low of $243.87 and a 1-year 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 stock has a market capitalization of $77.35 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 1.70 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its quarterly 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 firm 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 firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.04 earnings per share. Equities 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.