OneDigital Investment Advisors LLC Sells 8,004 Shares of General Dynamics Co. (NYSE:GD)

OneDigital Investment Advisors LLC lowered its stake in shares of General Dynamics Co. (NYSE:GD) by 29.4% in the third quarter, Holdings Channel reports. The institutional investor owned 19,199 shares of the aerospace company’s stock after selling 8,004 shares during the period. OneDigital Investment Advisors LLC’s holdings in General Dynamics were worth $5,802,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Olstein Capital Management L.P. lifted its stake in shares of General Dynamics by 36.4% during the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock worth $4,533,000 after purchasing an additional 4,000 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in General Dynamics by 10.0% in the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock worth $11,204,000 after purchasing an additional 3,363 shares in the last quarter. Lummis Asset Management LP lifted its position in shares of General Dynamics by 32.6% during the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock valued at $3,133,000 after buying an additional 2,551 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of General Dynamics by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 588,619 shares of the aerospace company’s stock worth $177,881,000 after buying an additional 5,069 shares during the last quarter. Finally, CWC Advisors LLC. bought a new position in shares of General Dynamics during the 3rd quarter worth approximately $771,000. Institutional investors own 86.14% of the company’s stock.

Analyst Upgrades and Downgrades

GD has been the subject of several recent analyst reports. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Royal Bank of Canada upped their target price on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Finally, Barclays upped 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. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $323.69.

General Dynamics Price Performance

NYSE:GD opened at $288.01 on Friday. The firm’s fifty day moving average is $302.55 and its two-hundred day moving average is $296.20. The firm has a market cap of $79.19 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.90 and a beta of 0.61. General Dynamics Co. has a one year low of $243.87 and a one year high of $316.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32.

General Dynamics (NYSE:GD) last posted its 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). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same period last year, the business earned $3.04 earnings per share. The firm’s revenue was up 10.4% on a year-over-year basis. Research analysts expect that General Dynamics Co. will post 13.97 EPS for the current year.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 26.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.52% of the company’s stock.

General Dynamics 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.