General Dynamics Co. (GD) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its holdings in General Dynamics Co. (NYSE:GD) by 2.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,232 shares of the aerospace company’s stock after selling 1,813 shares during the quarter. Janney Montgomery Scott LLC’s holdings in General Dynamics were worth $13,764,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Newport Trust Co lifted its holdings in General Dynamics by 0.3% in the 2nd quarter. Newport Trust Co now owns 21,068,046 shares of the aerospace company’s stock valued at $3,927,294,000 after acquiring an additional 66,593 shares during the last quarter. BlackRock Inc. lifted its holdings in General Dynamics by 1.1% in the 2nd quarter. BlackRock Inc. now owns 17,024,342 shares of the aerospace company’s stock valued at $3,173,507,000 after acquiring an additional 191,353 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in General Dynamics by 29.0% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,243,297 shares of the aerospace company’s stock valued at $418,173,000 after acquiring an additional 504,326 shares during the last quarter. Bank of Montreal Can lifted its holdings in General Dynamics by 5.0% in the 3rd quarter. Bank of Montreal Can now owns 1,457,366 shares of the aerospace company’s stock valued at $298,353,000 after acquiring an additional 68,784 shares during the last quarter. Finally, Iridian Asset Management LLC CT lifted its holdings in General Dynamics by 1.6% in the 2nd quarter. Iridian Asset Management LLC CT now owns 1,324,996 shares of the aerospace company’s stock valued at $246,993,000 after acquiring an additional 20,314 shares during the last quarter. 85.84% of the stock is owned by institutional investors.

A number of brokerages have weighed in on GD. Argus cut their price target on shares of General Dynamics from $250.00 to $200.00 and set a “buy” rating for the company in a report on Friday, October 26th. Stifel Nicolaus cut their price target on shares of General Dynamics from $210.00 to $200.00 and set a “hold” rating for the company in a report on Friday, October 26th. Credit Suisse Group cut their price target on shares of General Dynamics from $229.00 to $216.00 and set an “outperform” rating for the company in a report on Thursday, October 25th. Robert W. Baird cut their price target on shares of General Dynamics from $243.00 to $222.00 and set an “outperform” rating for the company in a report on Thursday, October 25th. Finally, Citigroup cut their price target on shares of General Dynamics from $210.00 to $195.00 and set a “neutral” rating for the company in a report on Thursday, October 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $231.00.

In other General Dynamics news, insider S. Daniel Johnson sold 77,810 shares of the business’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $199.85, for a total transaction of $15,550,328.50. Following the sale, the insider now owns 99,333 shares in the company, valued at approximately $19,851,700.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John Patrick Casey sold 22,500 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $193.28, for a total value of $4,348,800.00. Following the sale, the insider now owns 118,555 shares in the company, valued at approximately $22,914,310.40. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.

NYSE GD opened at $184.50 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.87 and a current ratio of 1.27. The stock has a market cap of $54.80 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 1.47 and a beta of 0.98. General Dynamics Co. has a 1 year low of $164.76 and a 1 year high of $230.00.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 24th. The aerospace company reported $2.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.76 by $0.13. The firm had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $9.41 billion. General Dynamics had a return on equity of 27.22% and a net margin of 9.01%. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.52 EPS. On average, sell-side analysts expect that General Dynamics Co. will post 11.3 earnings per share for the current year.

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General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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