Haverford Trust Co Sells 609 Shares of General Dynamics Co. (NYSE:GD)

Haverford Trust Co cut its position in shares of General Dynamics Co. (NYSE:GD) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,161 shares of the aerospace company’s stock after selling 609 shares during the period. Haverford Trust Co’s holdings in General Dynamics were worth $10,323,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GD. International Assets Investment Management LLC lifted its stake in shares of General Dynamics by 40,389.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock valued at $416,876,000 after purchasing an additional 1,376,065 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in General Dynamics by 2,189.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock valued at $108,572,000 after acquiring an additional 357,861 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in General Dynamics by 879.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock valued at $96,148,000 after acquiring an additional 305,624 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in General Dynamics by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after acquiring an additional 293,316 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in General Dynamics by 24.2% during the 2nd quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock valued at $391,119,000 after acquiring an additional 262,164 shares during the period. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Performance

NYSE:GD opened at $312.12 on Wednesday. The company’s 50-day moving average price is $301.91 and its 200-day moving average price is $295.91. 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 company has a market cap of $85.82 billion, a P/E ratio of 23.77, a P/E/G ratio of 1.90 and a beta of 0.61. General Dynamics Co. has a twelve month low of $243.52 and a twelve month high of $315.93.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The firm had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same period last 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. On average, sell-side analysts forecast that General Dynamics Co. will post 13.97 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GD has been the subject of several recent research reports. Barclays boosted their price target 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. 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. Susquehanna increased their price objective on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Finally, Wells Fargo & Company raised 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 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 given a strong buy rating to the company. According to data from MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $323.69.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics 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 directly owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by insiders.

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.