Great Lakes Advisors LLC Sells 16,094 Shares of General Dynamics Co. (NYSE:GD)

Great Lakes Advisors LLC lowered its stake in shares of General Dynamics Co. (NYSE:GD) by 46.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,390 shares of the aerospace company’s stock after selling 16,094 shares during the quarter. Great Lakes Advisors LLC’s holdings in General Dynamics were worth $3,957,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GD. Markel Corp boosted its stake in shares of General Dynamics by 0.9% in the 1st quarter. Markel Corp now owns 390,500 shares of the aerospace company’s stock valued at $94,181,000 after purchasing an additional 3,500 shares during the last quarter. Moors & Cabot Inc. grew its holdings in General Dynamics by 13.2% during the 1st quarter. Moors & Cabot Inc. now owns 4,202 shares of the aerospace company’s stock worth $1,014,000 after acquiring an additional 490 shares during the period. Zions Bancorporation N.A. raised its position in shares of General Dynamics by 294.2% during the 1st quarter. Zions Bancorporation N.A. now owns 540 shares of the aerospace company’s stock valued at $130,000 after acquiring an additional 403 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of General Dynamics by 791.6% in the 1st quarter. Brown Brothers Harriman & Co. now owns 1,275 shares of the aerospace company’s stock valued at $308,000 after purchasing an additional 1,132 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of General Dynamics by 51.6% in the 1st quarter. NewEdge Advisors LLC now owns 34,153 shares of the aerospace company’s stock worth $8,237,000 after purchasing an additional 11,630 shares during the last quarter. 86.08% of the stock is owned by institutional investors.

General Dynamics Trading Up 0.4 %

NYSE:GD opened at $245.78 on Tuesday. The company has a market cap of $67.07 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 2.18 and a beta of 0.77. General Dynamics Co. has a twelve month low of $202.35 and a twelve month high of $256.86. The business has a 50 day moving average price of $233.47 and a two-hundred day moving average price of $222.58. The company has a quick ratio of 0.91, a current ratio of 1.43 and a debt-to-equity ratio of 0.46.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 25th. The aerospace company reported $3.04 EPS for the quarter, topping the consensus estimate of $2.87 by $0.17. General Dynamics had a net margin of 7.97% and a return on equity of 17.13%. The business had revenue of $10.57 billion during the quarter, compared to analysts’ expectations of $10.05 billion. During the same quarter in the prior year, the company posted $3.26 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. As a group, analysts expect that General Dynamics Co. will post 12.59 EPS for the current fiscal year.

Insider Buying and Selling

In other General Dynamics news, VP Gregory S. Gallopoulos sold 33,200 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $238.37, for a total value of $7,913,884.00. Following the sale, the vice president now owns 113,319 shares in the company, valued at $27,011,850.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.52% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wells Fargo & Company increased their target price on General Dynamics from $243.00 to $264.00 and gave the company an “overweight” rating in a research note on Thursday, October 26th. StockNews.com began coverage on shares of General Dynamics in a report on Thursday, October 5th. They set a “buy” rating for the company. Susquehanna increased their target price on shares of General Dynamics from $270.00 to $285.00 and gave the stock a “positive” rating in a report on Thursday, October 26th. Citigroup reissued a “buy” rating and issued a $283.00 price target on shares of General Dynamics in a report on Tuesday, September 19th. Finally, Berenberg Bank raised their price objective on General Dynamics from $254.00 to $258.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 26th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $263.43.

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.