Planning Capital Management Corp Sells 480 Shares of General Dynamics Co. (NYSE:GD)

Planning Capital Management Corp cut its holdings in General Dynamics Co. (NYSE:GD) by 3.9% during the 3rd quarter, Holdings Channel reports. The firm owned 11,772 shares of the aerospace company’s stock after selling 480 shares during the period. General Dynamics makes up approximately 2.4% of Planning Capital Management Corp’s investment portfolio, making the stock its 17th biggest position. Planning Capital Management Corp’s holdings in General Dynamics were worth $3,557,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. MFA Wealth Advisors LLC grew its position in shares of General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after buying an additional 58 shares during the last quarter. Hara Capital LLC purchased a new stake in General Dynamics in the third quarter worth $26,000. New Covenant Trust Company N.A. bought a new stake in General Dynamics in the first quarter valued at $29,000. American Capital Advisory LLC purchased a new position in General Dynamics during the 2nd quarter valued at $29,000. Finally, Lowe Wealth Advisors LLC bought a new position in General Dynamics in the 3rd quarter worth $30,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

Shares of NYSE GD opened at $313.97 on Thursday. The company has a 50 day moving average of $302.64 and a 200 day moving average of $296.23. The company has a quick ratio of 0.80, a current ratio of 1.32 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. The firm has a market cap of $86.33 billion, a P/E ratio of 23.91, a PEG ratio of 1.89 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same period in the previous year, the company earned $3.04 earnings per share. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, research analysts expect that General Dynamics Co. will post 13.97 EPS for the current fiscal year.

Analysts Set New Price Targets

GD has been the topic of several research analyst reports. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada increased their price objective on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, 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 report on Friday, November 1st. 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $323.69.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.52% of the company’s stock.

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.