Russell Investments Group Ltd. Trims Stake in General Dynamics Co. (NYSE:GD)

Russell Investments Group Ltd. lowered its holdings in General Dynamics Co. (NYSE:GD) by 19.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,118 shares of the aerospace company’s stock after selling 37,652 shares during the quarter. Russell Investments Group Ltd. owned 0.05% of General Dynamics worth $28,533,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in General Dynamics by 0.8% in the second quarter. Vanguard Group Inc. now owns 21,270,773 shares of the aerospace company’s stock valued at $3,867,453,000 after purchasing an additional 177,296 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in General Dynamics by 11.4% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,748,497 shares of the aerospace company’s stock valued at $681,552,000 after purchasing an additional 383,200 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in General Dynamics by 5.3% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,590,209 shares of the aerospace company’s stock valued at $470,952,000 after purchasing an additional 130,747 shares during the period. Janus Henderson Group PLC raised its position in General Dynamics by 2.6% in the second quarter. Janus Henderson Group PLC now owns 2,335,959 shares of the aerospace company’s stock valued at $424,721,000 after purchasing an additional 58,222 shares during the period. Finally, Bank of New York Mellon Corp raised its position in General Dynamics by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 1,875,993 shares of the aerospace company’s stock valued at $341,091,000 after purchasing an additional 42,778 shares during the period. Institutional investors own 86.19% of the company’s stock.

In related news, EVP Christopher Marzilli sold 32,930 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $187.16, for a total transaction of $6,163,178.80. Following the completion of the transaction, the executive vice president now directly owns 100,557 shares of the company’s stock, valued at approximately $18,820,248.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.10% of the company’s stock.

A number of brokerages have recently weighed in on GD. Barclays set a $215.00 price objective on General Dynamics and gave the company a “buy” rating in a research note on Tuesday, October 8th. Cowen set a $202.00 price objective on General Dynamics and gave the company a “buy” rating in a research note on Friday, August 30th. Morgan Stanley dropped their price objective on General Dynamics from $173.00 to $172.00 and set an “underweight” rating for the company in a research note on Thursday, October 10th. Credit Suisse Group dropped their price objective on General Dynamics from $197.00 to $193.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Finally, Zacks Investment Research raised General Dynamics from a “hold” rating to a “buy” rating and set a $203.00 price objective for the company in a research note on Monday, September 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. General Dynamics presently has a consensus rating of “Hold” and an average price target of $192.66.

GD opened at $182.95 on Friday. General Dynamics Co. has a 12 month low of $143.87 and a 12 month high of $193.76. The stock has a market capitalization of $51.87 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.75 and a beta of 1.17. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.11 and a quick ratio of 0.74. The business has a fifty day moving average price of $179.34 and a 200 day moving average price of $179.33.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, October 23rd. The aerospace company reported $3.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.06 by $0.08. General Dynamics had a return on equity of 26.79% and a net margin of 8.66%. The firm had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $9.75 billion. During the same period in the previous year, the firm posted $2.89 EPS. General Dynamics’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, research analysts anticipate that General Dynamics Co. will post 11.91 earnings per share for the current year.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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

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