Strategy Asset Managers LLC Sells 4,226 Shares of General Dynamics Co. (NYSE:GD)

Strategy Asset Managers LLC lessened its stake in General Dynamics Co. (NYSE:GD) by 15.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,208 shares of the aerospace company’s stock after selling 4,226 shares during the period. General Dynamics comprises about 1.3% of Strategy Asset Managers LLC’s portfolio, making the stock its 21st biggest position. Strategy Asset Managers LLC’s holdings in General Dynamics were worth $7,013,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Global X Japan Co. Ltd. boosted its stake in General Dynamics by 2.3% in the third quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock worth $448,000 after buying an additional 33 shares in the last quarter. Coston McIsaac & Partners grew its position in shares of General Dynamics by 22.8% in the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after buying an additional 33 shares during the last quarter. Grove Bank & Trust increased its position in General Dynamics by 10.6% during the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock valued at $107,000 after purchasing an additional 34 shares during the period. Trueblood Wealth Management LLC raised its stake in General Dynamics by 1.6% in the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock worth $672,000 after buying an additional 34 shares in the last quarter. Finally, Modera Wealth Management LLC lifted its stake in shares of General Dynamics by 0.4% in the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after purchasing an additional 35 shares during the period. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Trading Down 1.8 %

NYSE:GD opened at $280.98 on Wednesday. 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 52-week low of $243.87 and a 52-week high of $316.90. The stock’s 50 day moving average price is $301.71 and its 200 day moving average price is $296.28. The company has a market capitalization of $77.26 billion, a PE ratio of 21.40, a P/E/G ratio of 1.74 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced 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). The business 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 business’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.04 earnings per share. On average, research analysts anticipate that General Dynamics Co. will post 13.98 EPS for the current year.

Analyst Upgrades and Downgrades

GD has been the topic of several analyst reports. Royal Bank of Canada boosted their target price on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Citigroup increased their target price on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Barclays boosted their price target on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. 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 report on Thursday, October 24th. Seven 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.com, General Dynamics currently has an average rating of “Moderate Buy” and an average price target of $323.69.

Insider Activity at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is owned by 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.