Investment Management Associates Inc. ADV Sells 12,002 Shares of General Dynamics Co. (NYSE:GD)

Investment Management Associates Inc. ADV trimmed its holdings in shares of General Dynamics Co. (NYSE:GD) by 42.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 16,477 shares of the aerospace company’s stock after selling 12,002 shares during the period. General Dynamics makes up about 1.9% of Investment Management Associates Inc. ADV’s investment portfolio, making the stock its 16th biggest position. Investment Management Associates Inc. ADV’s holdings in General Dynamics were worth $4,979,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GD. QRG Capital Management Inc. increased its position in General Dynamics by 1.3% in the 1st quarter. QRG Capital Management Inc. now owns 18,599 shares of the aerospace company’s stock valued at $5,254,000 after acquiring an additional 232 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of General Dynamics by 0.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 49,841 shares of the aerospace company’s stock worth $14,080,000 after buying an additional 239 shares during the period. Entropy Technologies LP grew its position in shares of General Dynamics by 325.8% during the 1st quarter. Entropy Technologies LP now owns 5,782 shares of the aerospace company’s stock worth $1,633,000 after buying an additional 4,424 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of General Dynamics during the 1st quarter worth approximately $361,000. Finally, William Allan Corp grew its holdings in General Dynamics by 0.9% during the first quarter. William Allan Corp now owns 8,757 shares of the aerospace company’s stock valued at $2,474,000 after purchasing an additional 77 shares during the period. 86.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GD has been the subject of a number of analyst reports. Barclays boosted their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. 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. 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. Wells Fargo & Company lifted their price target on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein cut their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and an average target price of $323.69.

General Dynamics Stock Performance

NYSE GD opened at $313.91 on Tuesday. General Dynamics Co. has a 1 year low of $243.52 and a 1 year high of $315.93. The firm has a market capitalization of $86.32 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 1.87 and a beta of 0.61. The firm’s fifty day moving average price is $301.62 and its two-hundred day moving average price is $295.71. 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 (NYSE:GD) last released its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the prior year, the firm earned $3.04 earnings per share. General Dynamics’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, research analysts anticipate that General Dynamics Co. will post 13.97 EPS for the current year.

Insider Activity at General Dynamics

In related 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 owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.52% of the stock is currently owned by corporate insiders.

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.