Arvest Investments Inc. Cuts Stock Position in General Dynamics Co. (NYSE:GD)

Arvest Investments Inc. lowered its stake in shares of General Dynamics Co. (NYSE:GD) by 1.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,513 shares of the aerospace company’s stock after selling 274 shares during the quarter. Arvest Investments Inc.’s holdings in General Dynamics were worth $4,688,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Crossmark Global Holdings Inc. boosted its holdings in General Dynamics by 0.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 37,683 shares of the aerospace company’s stock valued at $11,387,000 after acquiring an additional 136 shares during the period. Mayflower Financial Advisors LLC bought a new stake in General Dynamics during the 3rd quarter valued at about $256,000. Mesirow Financial Investment Management Inc. boosted its position in General Dynamics by 7.0% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 4,430 shares of the aerospace company’s stock valued at $1,339,000 after buying an additional 291 shares during the period. RKL Wealth Management LLC increased its position in shares of General Dynamics by 2.1% during the third quarter. RKL Wealth Management LLC now owns 7,304 shares of the aerospace company’s stock worth $2,207,000 after acquiring an additional 147 shares during the period. Finally, Tompkins Financial Corp grew its stake in General Dynamics by 2.4% in the third quarter. Tompkins Financial Corp now owns 26,071 shares of the aerospace company’s stock worth $7,879,000 after purchasing an additional 610 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Up 1.1 %

Shares of General Dynamics stock traded up $3.47 during trading hours on Friday, hitting $309.47. The company’s stock had a trading volume of 855,115 shares, compared to its average volume of 1,109,699. The firm has a fifty day moving average of $301.62 and a 200-day moving average of $295.60. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The stock has a market cap of $85.09 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 1.87 and a beta of 0.61. General Dynamics Co. has a twelve month low of $238.31 and a twelve month high of $313.11.

General Dynamics (NYSE:GD) last announced its earnings results 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 firm had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter last year, the business earned $3.04 earnings per share. The business’s revenue was up 10.4% compared to the same quarter last year. Research analysts forecast that General Dynamics Co. will post 13.97 EPS for the current year.

Insider Activity

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the 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 directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on GD shares. Wells Fargo & Company boosted their price objective on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Citigroup raised their target price on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Barclays raised their price objective on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Susquehanna lifted their price objective on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.69.

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.