Kornitzer Capital Management Inc. KS Sells 1,201 Shares of General Dynamics Co. (NYSE:GD)

Kornitzer Capital Management Inc. KS cut its stake in General Dynamics Co. (NYSE:GD) by 1.0% in the third quarter, HoldingsChannel.com reports. The fund owned 114,562 shares of the aerospace company’s stock after selling 1,201 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in General Dynamics were worth $34,621,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. MFA Wealth Advisors LLC raised its holdings in General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 58 shares during the period. New Covenant Trust Company N.A. bought a new position in shares of General Dynamics in the first quarter worth about $29,000. American Capital Advisory LLC purchased a new position in shares of General Dynamics during the 2nd quarter valued at about $29,000. Lowe Wealth Advisors LLC bought a new position in shares of General Dynamics during the 3rd quarter valued at approximately $30,000. Finally, Beacon Capital Management LLC increased its holdings in General Dynamics by 1,144.4% in the 1st quarter. Beacon Capital Management LLC now owns 112 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 103 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Insider Activity

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 stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Susquehanna lifted their target price 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. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Wells Fargo & Company raised their price objective on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Sanford C. Bernstein cut their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Finally, Barclays lifted their price objective 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. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, General Dynamics has a consensus rating of “Moderate Buy” and a consensus target price of $323.69.

General Dynamics Stock Performance

Shares of NYSE:GD traded down $2.33 on Thursday, hitting $306.13. 49,619 shares of the company were exchanged, compared to its average volume of 1,093,347. 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 stock’s 50 day moving average price is $301.25 and its 200 day moving average price is $295.38. General Dynamics Co. has a 1-year low of $238.31 and a 1-year high of $313.11. The firm has a market capitalization of $84.18 billion, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 1.78 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The firm had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.04 earnings per share. Sell-side analysts predict that General Dynamics Co. will post 13.97 EPS for the current year.

General Dynamics 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.