Shelton Capital Management lessened its holdings in shares of General Dynamics Co. (NYSE:GD) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,583 shares of the aerospace company’s stock after selling 69 shares during the quarter. Shelton Capital Management’s holdings in General Dynamics were worth $219,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Baltimore Washington Financial Advisors Inc. bought a new stake in General Dynamics during the 2nd quarter valued at approximately $26,000. Horan Capital Advisors LLC. bought a new stake in General Dynamics during the 3rd quarter valued at approximately $28,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in General Dynamics in the 2nd quarter worth approximately $31,000. Balentine LLC increased its stake in General Dynamics by 281.8% in the 2nd quarter. Balentine LLC now owns 210 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 155 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC bought a new stake in General Dynamics in the 2nd quarter worth approximately $43,000. 84.98% of the stock is currently owned by institutional investors.
GD has been the topic of a number of research reports. Robert W. Baird downgraded General Dynamics from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $167.00 to $149.00 in a research note on Friday, October 2nd. Credit Suisse Group reduced their price objective on General Dynamics from $156.00 to $140.00 and set a “neutral” rating on the stock in a research note on Thursday, October 29th. They noted that the move was a valuation call. Jefferies Financial Group reaffirmed a “hold” rating and issued a $160.00 price objective on shares of General Dynamics in a research note on Tuesday, August 11th. Barclays reduced their price objective on General Dynamics from $170.00 to $165.00 and set an “overweight” rating on the stock in a research note on Thursday, October 1st. They noted that the move was a valuation call. Finally, Morgan Stanley started coverage on General Dynamics in a research note on Tuesday, September 8th. They issued an “underweight” rating and a $163.00 price objective on the stock. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. General Dynamics has a consensus rating of “Hold” and an average price target of $172.38.
NYSE GD opened at $148.36 on Friday. The company’s 50-day simple moving average is $141.97 and its two-hundred day simple moving average is $145.43. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.90 and a current ratio of 1.29. General Dynamics Co. has a one year low of $100.55 and a one year high of $190.08. The company has a market capitalization of $42.58 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 2.28 and a beta of 1.02.
General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 28th. The aerospace company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.05. General Dynamics had a net margin of 8.33% and a return on equity of 23.00%. Equities analysts expect that General Dynamics Co. will post 11.05 earnings per share for the current fiscal year.
In related news, VP William A. Moss sold 4,778 shares of General Dynamics stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $136.68, for a total value of $653,057.04. Following the completion of the sale, the vice president now directly owns 12,241 shares in the company, valued at approximately $1,673,099.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William A. Moss sold 4,713 shares of General Dynamics stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $138.54, for a total transaction of $652,939.02. Following the completion of the sale, the vice president now owns 12,753 shares of the company’s stock, valued at $1,766,800.62. The disclosure for this sale can be found here. 6.60% of the stock is owned by insiders.
General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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