Atlantic Union Bankshares Corp Reduces Holdings in General Dynamics Co. (NYSE:GD)

Atlantic Union Bankshares Corp reduced its stake in General Dynamics Co. (NYSE:GD) by 9.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 994 shares of the aerospace company’s stock after selling 100 shares during the period. Atlantic Union Bankshares Corp’s holdings in General Dynamics were worth $300,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Coston McIsaac & Partners grew its holdings in shares of 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 buying an additional 33 shares during the last quarter. Global X Japan Co. Ltd. grew its stake in General Dynamics by 2.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock valued at $448,000 after purchasing an additional 33 shares during the last quarter. Grove Bank & Trust raised 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 purchasing an additional 34 shares during the last quarter. Trueblood Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 34 shares during the period. Finally, Modera Wealth Management LLC boosted its position 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 buying an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Up 0.6 %

Shares of General Dynamics stock opened at $284.06 on Friday. General Dynamics Co. has a twelve month low of $245.01 and a twelve month high of $316.90. The firm’s 50-day moving average price is $298.17 and its 200 day moving average price is $295.56. 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 firm has a market capitalization of $78.11 billion, a PE ratio of 21.63, a P/E/G ratio of 1.71 and a beta of 0.61.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) 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 firm had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same period in the prior year, the firm earned $3.04 earnings per share. The business’s revenue was up 10.4% on a year-over-year basis. On average, sell-side analysts predict that General Dynamics Co. will post 13.98 EPS for the current fiscal year.

Insider Transactions at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the sale, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Royal Bank of Canada upped their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Citigroup lifted their price target on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Sanford C. Bernstein decreased 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, TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on 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.