Miramar Capital LLC Lowers Stake in General Dynamics Co. (NYSE:GD)

Miramar Capital LLC decreased its holdings in General Dynamics Co. (NYSE:GD) by 0.8% in the third quarter, HoldingsChannel.com reports. The firm owned 36,343 shares of the aerospace company’s stock after selling 307 shares during the quarter. General Dynamics makes up 2.6% of Miramar Capital LLC’s holdings, making the stock its 22nd biggest holding. Miramar Capital LLC’s holdings in General Dynamics were worth $10,983,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. MFA Wealth Advisors LLC increased its stake in shares of General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 58 shares in the last quarter. Hara Capital LLC acquired a new position in shares of General Dynamics during the third quarter valued at approximately $26,000. New Covenant Trust Company N.A. acquired a new stake in shares of General Dynamics in the first quarter worth approximately $29,000. American Capital Advisory LLC acquired a new position in General Dynamics in the 2nd quarter valued at $29,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in General Dynamics during the 3rd quarter worth $30,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Susquehanna upped their price objective on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Royal Bank of Canada boosted their price target on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Finally, Barclays increased their price target on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $323.69.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 26.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.52% of the company’s stock.

General Dynamics Trading Down 1.5 %

NYSE GD opened at $288.01 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average of $302.45 and a two-hundred day moving average of $296.21. The stock has a market capitalization of $79.19 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 1.90 and a beta of 0.61. General Dynamics Co. has a 52 week low of $243.87 and a 52 week high of $316.90.

General Dynamics (NYSE:GD) last released 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 return on equity of 16.59% and a net margin of 7.90%. The business had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same period in the prior year, the company posted $3.04 earnings per share. The company’s revenue was up 10.4% compared to the same quarter last year. As a group, research analysts expect that General Dynamics Co. will post 13.97 EPS for the current fiscal year.

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.