Fisher Asset Management LLC Trims Stake in General Dynamics Co. (NYSE:GD)

Fisher Asset Management LLC lessened its position in General Dynamics Co. (NYSE:GD) by 21.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,734 shares of the aerospace company’s stock after selling 748 shares during the quarter. Fisher Asset Management LLC’s holdings in General Dynamics were worth $826,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in GD. Tidal Investments LLC increased its stake in shares of General Dynamics by 7.8% in the 1st quarter. Tidal Investments LLC now owns 4,704 shares of the aerospace company’s stock worth $1,329,000 after acquiring an additional 340 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of General Dynamics by 291.4% during the first quarter. Cetera Investment Advisers now owns 96,539 shares of the aerospace company’s stock valued at $27,271,000 after purchasing an additional 71,871 shares during the last quarter. Cetera Advisors LLC lifted its holdings in shares of General Dynamics by 102.8% during the first quarter. Cetera Advisors LLC now owns 22,163 shares of the aerospace company’s stock valued at $6,261,000 after purchasing an additional 11,236 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of General Dynamics by 83.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the aerospace company’s stock worth $376,000 after purchasing an additional 596 shares in the last quarter. Finally, Transcend Capital Advisors LLC increased its position in General Dynamics by 4.8% during the 2nd quarter. Transcend Capital Advisors LLC now owns 9,993 shares of the aerospace company’s stock valued at $2,899,000 after buying an additional 458 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GD has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Barclays increased their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Sanford C. Bernstein decreased 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 report on Thursday, October 24th. Susquehanna increased their price target on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a report on Thursday, October 17th. Finally, Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Seven investment 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 presently has a consensus rating of “Moderate Buy” and an average price target of $323.69.

General Dynamics Price Performance

NYSE GD opened at $284.06 on Friday. The company has a 50-day moving average price of $298.17 and a 200-day moving average price of $295.56. General Dynamics Co. has a 52 week low of $245.01 and a 52 week high of $316.90. 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 market capitalization of $78.11 billion, a P/E ratio of 21.63, a PEG ratio of 1.71 and a beta of 0.61.

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 business had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. During the same period in the prior year, the company posted $3.04 earnings per share. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. Equities research analysts anticipate that General Dynamics Co. will post 13.98 earnings per share for the current year.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the sale, the vice president now directly owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by corporate insiders.

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.