Migdal Insurance & Financial Holdings Ltd. Sells 650 Shares of General Dynamics Co. (NYSE:GD)

Migdal Insurance & Financial Holdings Ltd. trimmed its stake in shares of General Dynamics Co. (NYSE:GD) by 15.9% in the third quarter, HoldingsChannel reports. The firm owned 3,438 shares of the aerospace company’s stock after selling 650 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in General Dynamics were worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its position in General Dynamics by 40,389.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after buying an additional 1,376,065 shares during the period. 1832 Asset Management L.P. raised its stake in General Dynamics by 2,189.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock worth $108,572,000 after purchasing an additional 357,861 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in General Dynamics by 879.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock valued at $96,148,000 after purchasing an additional 305,624 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in General Dynamics by 4.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after purchasing an additional 293,316 shares during the period. Finally, Hsbc Holdings PLC grew its position in shares of General Dynamics by 24.2% during the 2nd quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock worth $391,119,000 after purchasing an additional 262,164 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Susquehanna upped their target price on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Wells Fargo & Company increased their price target 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. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Royal Bank of Canada raised their price target on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $323.69.

General Dynamics Stock Up 1.1 %

Shares of General Dynamics stock traded up $3.47 during trading on Friday, reaching $309.47. 855,115 shares of the company traded hands, compared to its average volume of 1,109,699. The firm has a market capitalization of $85.09 billion, a PE ratio of 23.57, a P/E/G ratio of 1.87 and a beta of 0.61. General Dynamics Co. has a 1-year low of $238.31 and a 1-year high of $313.11. The company has a 50 day moving average price of $301.62 and a 200-day moving average price of $295.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same period last year, the company posted $3.04 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts expect that General Dynamics Co. will post 13.97 earnings per share for the current fiscal year.

Insider Transactions at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.52% of the stock is currently owned by insiders.

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.