Martingale Asset Management L P Sells 14,580 Shares of General Dynamics Co. (NYSE:GD)

Martingale Asset Management L P reduced its position in General Dynamics Co. (NYSE:GD) by 15.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,625 shares of the aerospace company’s stock after selling 14,580 shares during the quarter. Martingale Asset Management L P’s holdings in General Dynamics were worth $24,969,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GD. International Assets Investment Management LLC lifted its holdings in shares of General Dynamics by 40,389.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after acquiring an additional 1,376,065 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of General Dynamics by 2,189.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock worth $108,572,000 after acquiring an additional 357,861 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of General Dynamics by 4.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after acquiring an additional 293,316 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of General Dynamics by 24.2% in the 2nd quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock worth $391,119,000 after acquiring an additional 262,164 shares during the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in shares of General Dynamics by 174.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 384,151 shares of the aerospace company’s stock worth $111,458,000 after acquiring an additional 244,373 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Royal Bank of Canada lifted their target price on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Citigroup boosted their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company boosted their price objective on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein reduced their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $323.69.

Insider Activity at General Dynamics

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

General Dynamics Stock Up 0.1 %

Shares of GD opened at $282.31 on Friday. 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 fifty day moving average price of $298.62 and a 200-day moving average price of $295.63. The firm has a market capitalization of $77.63 billion, a P/E ratio of 21.50, a P/E/G ratio of 1.71 and a beta of 0.61. General Dynamics Co. has a 12-month low of $243.87 and a 12-month 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 for the quarter, missing the consensus estimate of $3.48 by ($0.13). The firm had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.04 earnings per share. Equities research analysts expect that General Dynamics Co. will post 13.98 earnings per share for the current 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.