General Dynamics Co. (NYSE:GD) Holdings Decreased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its position in shares of General Dynamics Co. (NYSE:GD) by 12.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 38,913 shares of the aerospace company’s stock after selling 5,695 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in General Dynamics were worth $11,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC grew its holdings in shares of General Dynamics by 67.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock valued at $2,583,000 after purchasing an additional 3,448 shares during the last quarter. Olstein Capital Management L.P. grew its stake in General Dynamics by 36.4% during the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock worth $4,533,000 after buying an additional 4,000 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in General Dynamics by 10.0% in the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock worth $11,204,000 after buying an additional 3,363 shares during the period. Lummis Asset Management LP lifted its stake in General Dynamics by 32.6% in the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock valued at $3,133,000 after buying an additional 2,551 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of General Dynamics by 0.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 588,619 shares of the aerospace company’s stock worth $177,881,000 after acquiring an additional 5,069 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Up 0.6 %

GD stock opened at $284.01 on Monday. 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 cap of $78.09 billion, a PE ratio of 21.63, a PEG ratio of 1.72 and a beta of 0.61. General Dynamics Co. has a 1 year low of $245.01 and a 1 year high of $316.90. The company has a fifty day simple moving average of $298.17 and a 200 day simple moving average of $295.58.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (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 for the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter last year, the company posted $3.04 EPS. The business’s revenue was up 10.4% compared to the same quarter last year. Sell-side analysts anticipate that General Dynamics Co. will post 13.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Sanford C. Bernstein reduced their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada lifted their price target on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Citigroup boosted their price objective on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Finally, Barclays boosted their price target on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $323.69.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company’s 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 sale, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This represents a 21.44 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.

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.