Haverford Trust Co Decreases Stake in General Dynamics Co. (NYSE:GD)

Haverford Trust Co lowered its stake in shares of General Dynamics Co. (NYSE:GD) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,161 shares of the aerospace company’s stock after selling 609 shares during the quarter. Haverford Trust Co’s holdings in General Dynamics were worth $10,323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of GD. International Assets Investment Management LLC boosted its position in shares of General Dynamics by 40,389.3% in 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 in the last quarter. 1832 Asset Management L.P. boosted its holdings 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 acquiring an additional 357,861 shares during the period. Public Employees Retirement Association of Colorado boosted its stake in shares of General Dynamics by 879.9% during 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 buying an additional 305,624 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of General Dynamics by 4.0% during 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 buying an additional 293,316 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in General Dynamics by 24.2% during the second 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 during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Performance

Shares of GD opened at $312.12 on Wednesday. The stock has a 50-day moving average price of $301.91 and a 200-day moving average price of $295.91. The company has a market cap of $85.82 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 1.90 and a beta of 0.61. General Dynamics Co. has a 12-month low of $243.52 and a 12-month high of $315.93. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last posted its earnings results 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). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same period last year, the firm posted $3.04 earnings per share. General Dynamics’s quarterly revenue was up 10.4% on a year-over-year basis. As a group, equities analysts forecast that General Dynamics Co. will post 13.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

GD has been the subject of several research reports. Sanford C. Bernstein decreased their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Barclays lifted their price target on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Susquehanna boosted their price objective on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company upped their price target on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $323.69.

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.