Planning Capital Management Corp Sells 480 Shares of General Dynamics Co. (NYSE:GD)

Planning Capital Management Corp cut its holdings in shares of General Dynamics Co. (NYSE:GD) by 3.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,772 shares of the aerospace company’s stock after selling 480 shares during the quarter. General Dynamics accounts for 2.4% of Planning Capital Management Corp’s holdings, making the stock its 17th largest position. Planning Capital Management Corp’s holdings in General Dynamics were worth $3,557,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in GD. MFA Wealth Advisors LLC lifted its position in shares of General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after buying an additional 58 shares during the last quarter. Hara Capital LLC acquired a new stake in General Dynamics in the third quarter valued at $26,000. New Covenant Trust Company N.A. acquired a new position in General Dynamics during the 1st quarter worth about $29,000. American Capital Advisory LLC acquired a new stake in shares of General Dynamics in the second quarter valued at about $29,000. Finally, Lowe Wealth Advisors LLC acquired a new position in shares of General Dynamics in the third quarter worth approximately $30,000. 86.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GD has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Barclays increased their price target on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft dropped their price target on General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Finally, Susquehanna lifted their price objective 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. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $323.69.

Insider Buying and Selling at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.52% of the company’s stock.

General Dynamics Price Performance

GD stock opened at $313.97 on Thursday. The firm has a 50 day moving average of $302.64 and a 200-day moving average of $296.23. The firm has a market capitalization of $86.33 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 1.89 and a beta of 0.61. General Dynamics Co. has a 12 month low of $243.87 and a 12 month high of $316.90. 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 released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The firm had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.04 earnings per share. As a group, sell-side analysts predict that General Dynamics Co. will post 13.97 earnings per share for the current fiscal year.

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.