Simmons Bank Sells 174 Shares of General Dynamics Co. (NYSE:GD)

Simmons Bank decreased its stake in shares of General Dynamics Co. (NYSE:GD) by 2.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 6,677 shares of the aerospace company’s stock after selling 174 shares during the period. Simmons Bank’s holdings in General Dynamics were worth $2,018,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MFA Wealth Advisors LLC raised its holdings in shares of General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 58 shares in the last quarter. Hara Capital LLC purchased a new position in shares of General Dynamics in the 3rd quarter worth approximately $26,000. New Covenant Trust Company N.A. purchased a new position in shares of General Dynamics in the 1st quarter worth approximately $29,000. American Capital Advisory LLC purchased a new position in shares of General Dynamics in the 2nd quarter worth approximately $29,000. Finally, Lowe Wealth Advisors LLC purchased a new position in shares of General Dynamics in the 3rd quarter worth approximately $30,000. Institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In related 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 sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.52% of the stock is currently owned by company insiders.

General Dynamics Stock Performance

GD opened at $313.97 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The firm has a fifty day moving average price of $302.25 and a 200 day moving average price of $296.11. General Dynamics Co. has a 1 year low of $243.87 and a 1 year high of $316.90. The stock has a market cap of $86.33 billion, a P/E ratio of 23.91, a P/E/G ratio of 1.89 and a beta of 0.61.

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

Analyst Ratings Changes

GD has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Susquehanna boosted their target price on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Wells Fargo & Company boosted their target price on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada boosted their target price on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $323.69.

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.