Janney Montgomery Scott LLC Reduces Position in General Dynamics Co. (GD)

Janney Montgomery Scott LLC lowered its position in General Dynamics Co. (NYSE:GD) by 2.6% during the third quarter, Holdings Channel reports. The institutional investor owned 67,232 shares of the aerospace company’s stock after selling 1,813 shares during the period. Janney Montgomery Scott LLC’s holdings in General Dynamics were worth $13,764,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. CSat Investment Advisory L.P. acquired a new position in General Dynamics in the second quarter worth approximately $101,000. CX Institutional acquired a new position in General Dynamics in the second quarter worth approximately $107,000. Zions Bancorporation acquired a new position in General Dynamics in the third quarter worth approximately $109,000. James Investment Research Inc. acquired a new position in General Dynamics in the second quarter worth approximately $112,000. Finally, BerganKDV Wealth Management LLC acquired a new position in General Dynamics in the second quarter worth approximately $114,000. Hedge funds and other institutional investors own 85.84% of the company’s stock.

In other General Dynamics news, Director Mark Malcolm acquired 3,000 shares of General Dynamics stock in a transaction dated Friday, October 26th. The stock was bought at an average cost of $169.87 per share, with a total value of $509,610.00. Following the completion of the transaction, the director now owns 4,455 shares of the company’s stock, valued at $756,770.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider S. Daniel Johnson sold 77,810 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $199.85, for a total value of $15,550,328.50. Following the completion of the sale, the insider now directly owns 99,333 shares of the company’s stock, valued at $19,851,700.05. The disclosure for this sale can be found here. 6.70% of the stock is owned by corporate insiders.

Shares of General Dynamics stock opened at $184.50 on Friday. The company has a market cap of $54.80 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 1.47 and a beta of 0.98. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.27 and a quick ratio of 0.87. General Dynamics Co. has a 12-month low of $164.76 and a 12-month high of $230.00.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 24th. The aerospace company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.13. The firm had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $9.41 billion. General Dynamics had a return on equity of 27.22% and a net margin of 9.01%. The company’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.52 earnings per share. As a group, equities analysts predict that General Dynamics Co. will post 11.3 EPS for the current fiscal year.

GD has been the topic of a number of research reports. Argus dropped their price objective on General Dynamics from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Zacks Investment Research downgraded General Dynamics from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Robert W. Baird dropped their price objective on General Dynamics from $243.00 to $222.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Wells Fargo & Co dropped their price objective on General Dynamics from $250.00 to $210.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Finally, Credit Suisse Group decreased their target price on General Dynamics from $229.00 to $216.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $231.00.

TRADEMARK VIOLATION NOTICE: This article was originally reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this article on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The correct version of this article can be accessed at https://sportsperspectives.com/2018/11/10/janney-montgomery-scott-llc-reduces-position-in-general-dynamics-co-gd.html.

General Dynamics Profile

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.

Featured Story: Google Finance Portfolio

Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Co. (NYSE:GD).

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

Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply