Cetera Advisor Networks LLC decreased its stake in shares of General Dynamics Co. (NYSE:GD) by 2.5% during the 3rd quarter, Holdings Channel reports. The firm owned 7,682 shares of the aerospace company’s stock after selling 197 shares during the period. Cetera Advisor Networks LLC’s holdings in General Dynamics were worth $1,396,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Bank of The West boosted its stake in shares of General Dynamics by 16.0% during the 2nd quarter. Bank of The West now owns 24,024 shares of the aerospace company’s stock worth $4,368,000 after acquiring an additional 3,319 shares during the period. Holowesko Partners Ltd. boosted its stake in shares of General Dynamics by 22.1% during the 2nd quarter. Holowesko Partners Ltd. now owns 13,800 shares of the aerospace company’s stock worth $2,509,000 after acquiring an additional 2,500 shares during the period. Confluence Investment Management LLC boosted its stake in shares of General Dynamics by 4.7% during the 2nd quarter. Confluence Investment Management LLC now owns 103,483 shares of the aerospace company’s stock worth $18,815,000 after acquiring an additional 4,606 shares during the period. Connecticut Wealth Management LLC boosted its stake in shares of General Dynamics by 11.5% during the 2nd quarter. Connecticut Wealth Management LLC now owns 1,857 shares of the aerospace company’s stock worth $338,000 after acquiring an additional 191 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of General Dynamics by 6.5% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,066 shares of the aerospace company’s stock worth $1,830,000 after acquiring an additional 613 shares during the period. 86.15% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently commented on GD shares. Cowen set a $202.00 target price on General Dynamics and gave the stock a “buy” rating in a research note on Friday, August 30th. Credit Suisse Group reduced their target price on General Dynamics from $197.00 to $193.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Morgan Stanley reduced their price target on General Dynamics from $173.00 to $172.00 and set an “underweight” rating for the company in a research note on Thursday, October 10th. Zacks Investment Research upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price target for the company in a research note on Monday, September 2nd. Finally, Barclays set a $215.00 price target on General Dynamics and gave the company a “buy” rating in a research note on Tuesday, October 8th. 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 company currently has a consensus rating of “Hold” and a consensus price target of $192.66.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.14 earnings per share (EPS) for the quarter, beating 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 firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.89 EPS. Equities analysts anticipate that General Dynamics Co. will post 11.91 earnings per share for the current fiscal year.
In other news, EVP Christopher Marzilli sold 32,930 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 100,557 shares in the company, valued at approximately $18,820,248.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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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