Lane & Associates LLC Reduces Position in General Dynamics Co. (NYSE:GD)

Lane & Associates LLC lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 53.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 778 shares of the aerospace company’s stock after selling 877 shares during the quarter. Lane & Associates LLC’s holdings in General Dynamics were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. MFA Wealth Advisors LLC boosted its stake 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 acquiring an additional 58 shares during the last quarter. Hara Capital LLC purchased a new position in shares of General Dynamics during the 3rd quarter worth $26,000. American Capital Advisory LLC bought a new stake in shares of General Dynamics during the 2nd quarter valued at $29,000. Lowe Wealth Advisors LLC bought a new stake in shares of General Dynamics during the 3rd quarter valued at $30,000. Finally, New Covenant Trust Company N.A. bought a new stake in shares of General Dynamics during the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction dated Monday, September 16th. The shares were 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 directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The trade was a 26.87 % decrease in their position. 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 Stock Performance

General Dynamics stock opened at $281.81 on Friday. The company’s 50-day moving average price is $300.44 and its 200-day moving average price is $296.00. General Dynamics Co. has a twelve month low of $243.87 and a twelve month high of $316.90. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The company has a market cap of $77.49 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.69 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its 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 business had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter last year, the firm earned $3.04 earnings per share. The business’s quarterly revenue was up 10.4% on a year-over-year basis. On average, equities research analysts forecast that General Dynamics Co. will post 13.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GD shares. Royal Bank of Canada raised their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Barclays raised their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Wells Fargo & Company raised their price objective on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Citigroup raised their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein decreased their price objective on shares of 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. 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $323.69.

About General Dynamics

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.