Accretive Wealth Partners LLC Lowers Stock Position in General Dynamics Co. (NYSE:GD)

Accretive Wealth Partners LLC decreased its position in General Dynamics Co. (NYSE:GD) by 3.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,380 shares of the aerospace company’s stock after selling 226 shares during the period. Accretive Wealth Partners LLC’s holdings in General Dynamics were worth $1,928,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its holdings in General Dynamics by 59.1% in the first quarter. Acadian Asset Management LLC now owns 2,377 shares of the aerospace company’s stock worth $670,000 after purchasing an additional 883 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in General Dynamics during the first quarter valued at $493,000. Canada Pension Plan Investment Board lifted its holdings in General Dynamics by 33.8% in the first quarter. Canada Pension Plan Investment Board now owns 199,644 shares of the aerospace company’s stock valued at $56,397,000 after acquiring an additional 50,426 shares during the period. Kestra Advisory Services LLC grew its stake in shares of General Dynamics by 27.2% during the 1st quarter. Kestra Advisory Services LLC now owns 49,666 shares of the aerospace company’s stock valued at $14,030,000 after purchasing an additional 10,631 shares during the period. Finally, BOKF NA increased its position in shares of General Dynamics by 51.3% during the 1st quarter. BOKF NA now owns 61,625 shares of the aerospace company’s stock valued at $17,967,000 after purchasing an additional 20,907 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Down 0.1 %

Shares of NYSE GD opened at $279.70 on Friday. The company has a market cap of $76.91 billion, a P/E ratio of 21.30, a PEG ratio of 1.70 and a beta of 0.61. The firm has a 50-day simple moving average of $300.90 and a two-hundred day simple moving average of $296.05. General Dynamics Co. has a 1 year low of $243.87 and a 1 year high of $316.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share 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 return on equity of 16.59% and a net margin of 7.90%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.04 earnings per share. Research analysts anticipate that General Dynamics Co. will post 13.98 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GD shares. Royal Bank of Canada boosted their target price on shares of 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 upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Citigroup lifted their target price on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft reduced their price target on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Finally, Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Seven 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 company. According to data from MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and a consensus target price of $323.69.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now owns 3,592 shares in the company, valued at $1,106,515.60. The trade was a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.52% of the stock is owned by insiders.

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.