Bradley Foster & Sargent Inc. CT Reduces Holdings in General Dynamics Co. (GD)

Bradley Foster & Sargent Inc. CT decreased its position in shares of General Dynamics Co. (NYSE:GD) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 47,225 shares of the aerospace company’s stock after selling 1,182 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in General Dynamics were worth $9,668,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of GD. Bank of Montreal Can purchased a new position in shares of General Dynamics during the second quarter worth about $258,844,000. Cornerstone Wealth Management LLC grew its holdings in shares of General Dynamics by 1,393.1% during the third quarter. Cornerstone Wealth Management LLC now owns 658,951 shares of the aerospace company’s stock worth $3,086,000 after purchasing an additional 614,817 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of General Dynamics by 29.0% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,243,297 shares of the aerospace company’s stock worth $418,173,000 after buying an additional 504,326 shares during the last quarter. Levin Capital Strategies L.P. purchased a new position in shares of General Dynamics during the second quarter worth about $68,282,000. Finally, Chevy Chase Trust Holdings Inc. purchased a new position in shares of General Dynamics during the second quarter worth about $43,807,000. 85.63% of the stock is currently owned by institutional investors.

In other General Dynamics news, insider John Patrick Casey sold 22,500 shares of General Dynamics stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $193.28, for a total value of $4,348,800.00. Following the sale, the insider now owns 118,555 shares of the company’s stock, valued at approximately $22,914,310.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark Malcolm acquired 3,000 shares of the stock in a transaction on Friday, October 26th. The stock was acquired at an average cost of $169.87 per share, for a total transaction of $509,610.00. Following the acquisition, the director now directly owns 4,455 shares in the company, valued at approximately $756,770.85. The disclosure for this purchase can be found here. 6.90% of the stock is currently owned by insiders.

GD traded up $3.07 during trading on Wednesday, reaching $174.96. The company’s stock had a trading volume of 10,053 shares, compared to its average volume of 1,616,636. General Dynamics Co. has a 52-week low of $164.76 and a 52-week high of $230.00. The firm has a market capitalization of $50.30 billion, a PE ratio of 17.62, a P/E/G ratio of 1.33 and a beta of 0.78. The company has a current ratio of 1.27, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 24th. The aerospace company reported $2.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.76 by $0.13. General Dynamics had a return on equity of 27.22% and a net margin of 9.01%. The company had revenue of $9.09 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same quarter in the previous year, the company earned $2.52 EPS. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, sell-side analysts predict that General Dynamics Co. will post 11.3 EPS for the current year.

A number of equities analysts recently issued reports on the company. Argus lowered their price target on General Dynamics from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Stifel Nicolaus lowered their price target on General Dynamics from $210.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, October 26th. Credit Suisse Group lowered their price target on General Dynamics from $229.00 to $216.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Robert W. Baird lowered their price target on General Dynamics from $243.00 to $222.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Finally, Citigroup lowered their price target on General Dynamics from $210.00 to $195.00 and set a “neutral” rating on the stock in a report on Thursday, October 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $231.00.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.

Further Reading: Ex-Dividend

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

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