AMG National Trust Bank Lowers Stock Holdings in General Dynamics Co. (NYSE:GD)

AMG National Trust Bank lessened its stake in shares of General Dynamics Co. (NYSE:GD) by 41.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,727 shares of the aerospace company’s stock after selling 1,958 shares during the quarter. AMG National Trust Bank’s holdings in General Dynamics were worth $824,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of GD. Olstein Capital Management L.P. lifted its stake in shares of General Dynamics by 36.4% in the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock worth $4,533,000 after acquiring an additional 4,000 shares during the period. Oppenheimer & Co. Inc. raised its holdings in General Dynamics by 10.0% during the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock worth $11,204,000 after purchasing an additional 3,363 shares in the last quarter. Lummis Asset Management LP lifted its position in General Dynamics by 32.6% in the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock valued at $3,133,000 after purchasing an additional 2,551 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in General Dynamics by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 588,619 shares of the aerospace company’s stock valued at $177,881,000 after purchasing an additional 5,069 shares in the last quarter. Finally, CWC Advisors LLC. acquired a new position in General Dynamics during the 3rd quarter worth approximately $771,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on GD. Royal Bank of Canada raised their price target on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Sanford C. Bernstein reduced their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Barclays upped their price target 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. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $323.69.

Insider Activity

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 26.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

General Dynamics Stock Performance

NYSE GD opened at $280.98 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. General Dynamics Co. has a fifty-two week low of $243.87 and a fifty-two week high of $316.90. The business has a fifty day moving average of $301.71 and a 200-day moving average of $296.28. The stock has a market cap of $77.26 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 1.74 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced 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 firm had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.04 EPS. As a group, analysts predict that General Dynamics Co. will post 13.98 earnings per share for the current fiscal year.

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.