Haverford Trust Co. Reduces Holdings in General Dynamics Co. (NYSE:GD)

Haverford Trust Co. decreased its holdings in shares of General Dynamics Co. (NYSE:GD) by 3.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,430 shares of the aerospace company’s stock after selling 56 shares during the period. Haverford Trust Co.’s holdings in General Dynamics were worth $261,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Archford Capital Strategies LLC boosted its position in General Dynamics by 3.4% in the second quarter. Archford Capital Strategies LLC now owns 1,696 shares of the aerospace company’s stock valued at $308,000 after buying an additional 56 shares during the last quarter. Patriot Investment Management Inc. boosted its position in General Dynamics by 3.0% in the third quarter. Patriot Investment Management Inc. now owns 1,948 shares of the aerospace company’s stock valued at $340,000 after buying an additional 57 shares during the last quarter. Signaturefd LLC boosted its position in General Dynamics by 1.7% in the second quarter. Signaturefd LLC now owns 3,443 shares of the aerospace company’s stock valued at $626,000 after buying an additional 59 shares during the last quarter. G&S Capital LLC boosted its position in General Dynamics by 10.5% in the third quarter. G&S Capital LLC now owns 642 shares of the aerospace company’s stock valued at $117,000 after buying an additional 61 shares during the last quarter. Finally, Wetherby Asset Management Inc. boosted its position in General Dynamics by 1.5% in the third quarter. Wetherby Asset Management Inc. now owns 4,160 shares of the aerospace company’s stock valued at $760,000 after buying an additional 62 shares during the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

NYSE:GD traded up $2.13 during trading hours on Friday, reaching $185.08. The company had a trading volume of 1,426,248 shares, compared to its average volume of 1,287,989. General Dynamics Co. has a 1-year low of $143.87 and a 1-year high of $193.76. The firm has a market cap of $51.87 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 1.75 and a beta of 1.17. The business’s 50 day moving average price is $179.25 and its 200-day moving average price is $179.37. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.11 and a quick ratio of 0.74.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported $3.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.06 by $0.08. The business had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $9.75 billion. General Dynamics had a return on equity of 26.79% and a net margin of 8.66%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.89 EPS. On average, analysts expect that General Dynamics Co. will post 11.91 earnings per share for the current fiscal year.

A number of brokerages have issued reports on GD. Credit Suisse Group decreased their price target on General Dynamics from $197.00 to $193.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price target for the company in a report on Monday, September 2nd. Barclays set a $215.00 price target on General Dynamics and gave the company a “buy” rating in a report on Tuesday, October 8th. Morgan Stanley decreased their price target on General Dynamics from $173.00 to $172.00 and set an “underweight” rating for the company in a report on Thursday, October 10th. Finally, Cowen set a $202.00 price target on General Dynamics and gave the company a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $192.66.

In other news, EVP Christopher Marzilli sold 32,930 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $187.16, for a total transaction of $6,163,178.80. Following the completion of the transaction, the executive vice president now directly owns 100,557 shares of the company’s stock, valued at approximately $18,820,248.12. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 7.10% of the company’s stock.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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