Ferguson Wellman Capital Management Inc. Trims Stock Holdings in General Dynamics Co. (NYSE:GD)

Ferguson Wellman Capital Management Inc. cut its position in General Dynamics Co. (NYSE:GDFree Report) by 1.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,565 shares of the aerospace company’s stock after selling 66 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in General Dynamics were worth $1,682,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of GD. Coston McIsaac & Partners lifted its position in General Dynamics by 22.8% during the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after purchasing an additional 33 shares during the period. Global X Japan Co. Ltd. lifted its holdings in shares of General Dynamics by 2.3% in the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock valued at $448,000 after buying an additional 33 shares during the period. Grove Bank & Trust boosted its stake in shares of General Dynamics by 10.6% in the third quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after buying an additional 34 shares during the last quarter. Trueblood Wealth Management LLC grew its holdings in General Dynamics by 1.6% during the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock worth $672,000 after acquiring an additional 34 shares during the period. Finally, Modera Wealth Management LLC lifted its holdings in General Dynamics by 0.4% in the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after acquiring an additional 35 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Price Performance

Shares of GD stock opened at $292.42 on Friday. The firm’s 50-day moving average is $302.64 and its two-hundred day moving average is $296.23. General Dynamics Co. has a 12 month low of $243.87 and a 12 month high of $316.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The company has a market capitalization of $80.41 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 1.90 and a beta of 0.61.

General Dynamics (NYSE:GDGet Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the prior year, the company posted $3.04 earnings per share. The company’s revenue was up 10.4% on a year-over-year basis. Analysts predict that General Dynamics Co. will post 13.97 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective 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. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Barclays upped their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Sanford C. Bernstein reduced their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Finally, Wells Fargo & Company raised their price objective on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $323.69.

Check Out Our Latest Stock Report on General Dynamics

Insider Buying and Selling at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the firm’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 completion of the transaction, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.52% of the company’s stock.

General Dynamics Profile

(Free Report)

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.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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