Fiduciary Trust Co Sells 871 Shares of General Dynamics Co. (NYSE:GD)

Fiduciary Trust Co lowered its position in General Dynamics Co. (NYSE:GD) by 3.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,732 shares of the aerospace company’s stock after selling 871 shares during the period. Fiduciary Trust Co’s holdings in General Dynamics were worth $8,381,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. MFA Wealth Advisors LLC raised its stake in shares of General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 58 shares during the last quarter. Hara Capital LLC bought a new position in General Dynamics in the 3rd quarter worth approximately $26,000. New Covenant Trust Company N.A. acquired a new position in General Dynamics during the 1st quarter worth $29,000. American Capital Advisory LLC bought a new position in General Dynamics in the 2nd quarter valued at $29,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in shares of General Dynamics in the 3rd quarter valued at $30,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the transaction, the vice president now owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 directly owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

GD has been the topic of several research reports. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced 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. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. 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. Finally, Wells Fargo & Company upped their target price on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Seven research 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’s stock. Based on data from MarketBeat, General Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $323.69.

General Dynamics Price Performance

Shares of GD opened at $282.31 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The firm has a market capitalization of $77.63 billion, a PE ratio of 21.50, a P/E/G ratio of 1.70 and a beta of 0.61. The stock has a 50 day simple moving average of $299.07 and a 200 day simple moving average of $295.72. General Dynamics Co. has a 52-week low of $243.87 and a 52-week high of $316.90.

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 the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned $3.04 EPS. Sell-side analysts predict 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.