Nixon Peabody Trust Co. Acquires 466 Shares of General Dynamics Co. (NYSE:GD)

Nixon Peabody Trust Co. lifted its stake in General Dynamics Co. (NYSE:GD) by 0.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,774 shares of the aerospace company’s stock after acquiring an additional 466 shares during the period. General Dynamics makes up about 1.4% of Nixon Peabody Trust Co.’s holdings, making the stock its 25th largest holding. Nixon Peabody Trust Co.’s holdings in General Dynamics were worth $16,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Richard C. Young & CO. LTD. increased its position in shares of General Dynamics by 2.1% during the third quarter. Richard C. Young & CO. LTD. now owns 38,782 shares of the aerospace company’s stock valued at $11,720,000 after buying an additional 799 shares during the period. Swiss National Bank boosted its stake in General Dynamics by 0.4% during the third quarter. Swiss National Bank now owns 692,146 shares of the aerospace company’s stock valued at $209,167,000 after buying an additional 2,600 shares during the period. Claro Advisors LLC grew its position in General Dynamics by 5.7% during the third quarter. Claro Advisors LLC now owns 4,799 shares of the aerospace company’s stock worth $1,450,000 after buying an additional 260 shares in the last quarter. Mechanics Financial Corp raised its holdings in shares of General Dynamics by 0.6% in the 3rd quarter. Mechanics Financial Corp now owns 8,553 shares of the aerospace company’s stock valued at $2,585,000 after acquiring an additional 50 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its holdings in shares of General Dynamics by 10.7% during the third quarter. Mutual of America Capital Management LLC now owns 31,711 shares of the aerospace company’s stock worth $9,583,000 after purchasing an additional 3,073 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the firm’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 sale, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.52% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GD shares. Deutsche Bank Aktiengesellschaft lowered their target price 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. Citigroup lifted their price target on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays increased their price target 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. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, TD Cowen raised General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, General Dynamics currently has a consensus rating of “Moderate Buy” and an average price target of $323.69.

General Dynamics Stock Down 0.5 %

GD traded down $1.52 during midday trading on Monday, reaching $286.47. The company’s stock had a trading volume of 61,888 shares, compared to its average volume of 1,096,201. 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 is $302.45 and its 200-day moving average is $296.34. General Dynamics Co. has a 1 year low of $243.87 and a 1 year high of $316.90. The firm has a market capitalization of $78.77 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.74 and a beta of 0.61.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same period last year, the firm posted $3.04 earnings per share. The company’s revenue was up 10.4% compared to the same quarter last year. As a group, research analysts expect that General Dynamics Co. will post 13.98 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.