Ferguson Wellman Capital Management Inc. Decreases Position in General Dynamics Co. (NYSE:GD)

Ferguson Wellman Capital Management Inc. lowered its stake in shares of General Dynamics Co. (NYSE:GD) by 1.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,565 shares of the aerospace company’s stock after selling 66 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in General Dynamics were worth $1,682,000 as of its most recent filing with the Securities and Exchange Commission.

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

General Dynamics Trading Down 6.9 %

Shares of GD stock opened at $292.42 on Friday. General Dynamics Co. has a twelve month low of $243.87 and a twelve month high of $316.90. 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 business’s 50 day moving average is $302.64 and its two-hundred day moving average is $296.23. The company has a market capitalization of $80.41 billion, a P/E ratio of 22.27, a price-to-earnings-growth ratio of 1.90 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings data 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 net margin of 7.90% and a return on equity of 16.59%. 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 posted $3.04 earnings per share. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. Equities analysts forecast that General Dynamics Co. will post 13.97 EPS for the current year.

Insider Buying and Selling

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 26.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.52% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Citigroup boosted their target price on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada upped their price objective on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their target price on General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $293.00 to $345.00 in a report on Friday, August 9th. Finally, Barclays raised their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a 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 issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.