Nixon Peabody Trust Co. Acquires 466 Shares of General Dynamics Co. (NYSE:GD)

Nixon Peabody Trust Co. boosted its holdings in General Dynamics Co. (NYSE:GD) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,774 shares of the aerospace company’s stock after acquiring an additional 466 shares during the period. General Dynamics accounts for 1.4% of Nixon Peabody Trust Co.’s holdings, making the stock its 25th biggest position. Nixon Peabody Trust Co.’s holdings in General Dynamics were worth $16,855,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Richard C. Young & CO. LTD. grew its position in shares of General Dynamics by 2.1% in the third quarter. Richard C. Young & CO. LTD. now owns 38,782 shares of the aerospace company’s stock valued at $11,720,000 after purchasing an additional 799 shares during the last quarter. Swiss National Bank increased its position in General Dynamics by 0.4% during the 3rd quarter. Swiss National Bank now owns 692,146 shares of the aerospace company’s stock worth $209,167,000 after buying an additional 2,600 shares during the period. Claro Advisors LLC boosted its position in shares of General Dynamics by 5.7% in the third quarter. Claro Advisors LLC now owns 4,799 shares of the aerospace company’s stock valued at $1,450,000 after acquiring an additional 260 shares during the period. Mechanics Financial Corp increased its position in General Dynamics by 0.6% during the third quarter. Mechanics Financial Corp now owns 8,553 shares of the aerospace company’s stock worth $2,585,000 after acquiring an additional 50 shares during the period. Finally, Mutual of America Capital Management LLC raised its stake in General Dynamics by 10.7% in the 3rd quarter. Mutual of America Capital Management LLC now owns 31,711 shares of the aerospace company’s stock worth $9,583,000 after purchasing an additional 3,073 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Down 0.5 %

Shares of GD traded down $1.52 during trading hours on Monday, reaching $286.47. The stock had a trading volume of 61,888 shares, compared to its average volume of 1,096,201. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. General Dynamics Co. has a 12 month low of $243.87 and a 12 month high of $316.90. The company has a market capitalization of $78.77 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 1.74 and a beta of 0.61. The firm has a 50-day simple moving average of $302.45 and a 200 day simple moving average of $296.34.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The firm had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. General Dynamics’s revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.04 earnings per share. Equities research analysts predict that General Dynamics Co. will post 13.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GD has been the topic of a number of recent research reports. Susquehanna raised their price objective on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research note on Thursday, October 17th. Barclays increased their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Sanford C. Bernstein decreased their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Finally, Citigroup upped 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. Seven equities research 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $323.69.

Insider Buying and Selling

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by corporate insiders.

About General Dynamics

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.