First National Trust Co Sells 885 Shares of General Dynamics Co. (NYSE:GD)

First National Trust Co reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 8.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,241 shares of the aerospace company’s stock after selling 885 shares during the quarter. First National Trust Co’s holdings in General Dynamics were worth $2,793,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GD. International Assets Investment Management LLC increased its position in shares of General Dynamics by 40,389.3% during the third 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 period. 1832 Asset Management L.P. raised its position in General Dynamics by 2,189.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock valued at $108,572,000 after purchasing an additional 357,861 shares in the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of General Dynamics by 879.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock worth $96,148,000 after buying an additional 305,624 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of General Dynamics by 4.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after buying an additional 293,316 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in shares of General Dynamics by 24.2% in the second quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock valued at $391,119,000 after acquiring an additional 262,164 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Price Performance

Shares of NYSE GD opened at $312.12 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The stock has a market capitalization of $85.82 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 1.87 and a beta of 0.61. The firm’s 50 day simple moving average is $301.91 and its 200-day simple moving average is $295.91. General Dynamics Co. has a 12 month low of $243.52 and a 12 month high of $315.93.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.04 EPS. Analysts expect that General Dynamics Co. will post 13.97 EPS for the current year.

Insider Activity at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.52% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on GD. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Barclays lifted their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Citigroup upped their target price on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Susquehanna boosted their price target on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company upped their price objective on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $323.69.

General Dynamics Company Profile

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.