Transamerica Financial Advisors Inc. Reduces Stock Position in General Dynamics Co. (NYSE:GD)

Transamerica Financial Advisors Inc. trimmed its stake in General Dynamics Co. (NYSE:GD) by 38.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,244 shares of the aerospace company’s stock after selling 1,387 shares during the period. Transamerica Financial Advisors Inc.’s holdings in General Dynamics were worth $679,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MFA Wealth Advisors LLC lifted its position in General Dynamics by 241.7% during the 3rd 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 period. Hara Capital LLC purchased a new position in General Dynamics during the 3rd quarter valued at about $26,000. American Capital Advisory LLC purchased a new position in General Dynamics during the 2nd quarter valued at about $29,000. Lowe Wealth Advisors LLC purchased a new position in General Dynamics during the 3rd quarter valued at about $30,000. Finally, New Covenant Trust Company N.A. purchased a new position in General Dynamics during the 1st quarter valued at about $29,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

Shares of NYSE GD opened at $282.01 on Wednesday. The firm has a 50 day moving average of $299.47 and a 200 day moving average of $295.82. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $77.54 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 1.70 and a beta of 0.61. General Dynamics Co. has a 12-month low of $243.87 and a 12-month high of $316.90.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate 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 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 quarter last year, the firm posted $3.04 earnings per share. On average, research analysts anticipate that General Dynamics Co. will post 13.98 earnings per share for the current year.

Insider Activity at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the transaction, the vice president now owns 20,296 shares of the company’s stock, valued at $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction 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 represents a 26.87 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GD. Barclays raised their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Sanford C. Bernstein reduced 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 research note on Thursday, October 24th. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada raised their price objective 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 analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and an average price target of $323.69.

General Dynamics Company 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.