Pitcairn Co. Sells 225 Shares of General Dynamics Co. (NYSE:GD)

Pitcairn Co. decreased its stake in shares of General Dynamics Co. (NYSE:GD) by 10.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,864 shares of the aerospace company’s stock after selling 225 shares during the period. Pitcairn Co.’s holdings in General Dynamics were worth $563,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of General Dynamics by 2.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock valued at $2,366,124,000 after purchasing an additional 189,904 shares during the period. Ameriprise Financial Inc. lifted its position in General Dynamics by 2.4% during the second quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock valued at $601,756,000 after buying an additional 47,915 shares during the period. Boston Partners boosted its holdings in shares of General Dynamics by 1.4% during the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after buying an additional 23,262 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of General Dynamics by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock worth $466,049,000 after buying an additional 23,304 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of General Dynamics by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,537,149 shares of the aerospace company’s stock worth $464,526,000 after acquiring an additional 114,461 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Down 0.2 %

Shares of NYSE:GD opened at $281.30 on Tuesday. General Dynamics Co. has a 52-week low of $243.87 and a 52-week high of $316.90. The stock has a market capitalization of $77.35 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 1.70 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The stock’s 50-day simple moving average is $299.91 and its two-hundred day simple moving average is $295.92.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The business had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.04 earnings per share. Analysts expect that General Dynamics Co. will post 13.98 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on GD. Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Susquehanna upped their price target on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered their price objective on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Royal Bank of Canada raised their price target on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Citigroup upped their price target on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $323.69.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of the business’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 transaction of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 26.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by 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.