HM Payson & Co. lowered its stake in General Dynamics Co. (NYSE:GD) by 8.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 178,726 shares of the aerospace company’s stock after selling 16,640 shares during the period. General Dynamics accounts for 1.6% of HM Payson & Co.’s holdings, making the stock its 17th biggest position. HM Payson & Co. owned 0.06% of General Dynamics worth $36,588,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. CSat Investment Advisory L.P. acquired a new stake in General Dynamics during the second quarter valued at $101,000. Zions Bancorporation acquired a new stake in General Dynamics during the third quarter valued at $109,000. Fort L.P. acquired a new stake in General Dynamics during the second quarter valued at $117,000. Ruggie Capital Group acquired a new stake in General Dynamics during the second quarter valued at $122,000. Finally, Ffcm LLC grew its position in General Dynamics by 504.1% during the third quarter. Ffcm LLC now owns 53,032 shares of the aerospace company’s stock valued at $126,000 after buying an additional 44,253 shares during the period. 85.21% of the stock is owned by institutional investors and hedge funds.
GD traded up $0.93 during midday trading on Friday, hitting $183.10. 11,099 shares of the company traded hands, compared to its average volume of 1,475,225. The company has a quick ratio of 0.87, a current ratio of 1.27 and a debt-to-equity ratio of 0.89. The company has a market cap of $53.91 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.49 and a beta of 0.98. General Dynamics Co. has a 52-week low of $164.76 and a 52-week 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, beating the Thomson Reuters’ consensus estimate of $2.76 by $0.13. The business had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $9.41 billion. General Dynamics had a net margin of 9.01% and a return on equity of 27.22%. The company’s revenue was up 20.0% compared to the same quarter last year. During the same period last year, the firm posted $2.52 earnings per share. On average, research analysts forecast that General Dynamics Co. will post 11.3 EPS for the current year.
Several analysts recently commented on the stock. Drexel Hamilton restated a “buy” rating and set a $230.00 price target on shares of General Dynamics in a research report on Thursday, August 16th. Citigroup dropped their price target on shares of General Dynamics from $210.00 to $195.00 and set a “neutral” rating on the stock in a research report on Thursday, October 25th. UBS Group began coverage on shares of General Dynamics in a research report on Wednesday, August 15th. They set a “neutral” rating and a $210.00 price target on the stock. Cowen reaffirmed a “buy” rating and set a $253.00 price objective on shares of General Dynamics in a report on Monday, October 15th. Finally, Stifel Nicolaus decreased their price objective on shares of General Dynamics from $210.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, October 26th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $230.00.
In other General Dynamics news, Director Mark Malcolm purchased 3,000 shares of the firm’s stock in a transaction dated Friday, October 26th. The shares were purchased at an average cost of $169.87 per share, with a total value of $509,610.00. Following the completion of the purchase, the director now owns 4,455 shares in the company, valued at approximately $756,770.85. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Patrick Casey sold 22,500 shares of the firm’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $193.28, for a total transaction of $4,348,800.00. Following the completion of the transaction, the insider now directly owns 118,555 shares in the company, valued at $22,914,310.40. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.
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General Dynamics Company 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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