4,131 General Dynamics Corporation $GD Shares Sold by University of Texas Texas AM Investment Management Co.

University of Texas Texas AM Investment Management Co. lessened its holdings in shares of General Dynamics Corporation (NYSE:GD) by 96.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 161 shares of the aerospace company’s stock after selling 4,131 shares during the quarter. University of Texas Texas AM Investment Management Co.’s holdings in General Dynamics were worth $53,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of GD. BlackRock Inc. purchased a new stake in shares of General Dynamics in the second quarter worth about $6,840,590,000. State Street Corp grew its holdings in General Dynamics by 3.3% during the 2nd quarter. State Street Corp now owns 11,811,099 shares of the aerospace company’s stock valued at $4,183,964,000 after buying an additional 374,682 shares in the last quarter. Bank of America Corp DE bought a new stake in General Dynamics in the 2nd quarter worth approximately $2,603,527,000. Sanders Capital LLC increased its stake in General Dynamics by 0.3% in the 3rd quarter. Sanders Capital LLC now owns 3,555,708 shares of the aerospace company’s stock worth $1,179,891,000 after acquiring an additional 9,552 shares during the last quarter. Finally, Corient Private Wealth LP raised its holdings in shares of General Dynamics by 806.3% during the 2nd quarter. Corient Private Wealth LP now owns 1,661,702 shares of the aerospace company’s stock worth $588,641,000 after acquiring an additional 1,478,353 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Citigroup increased their target price on General Dynamics from $374.00 to $400.00 and gave the company a “neutral” rating in a research report on Monday, November 2nd. Wall Street Zen cut shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Wells Fargo & Company upped their price target on shares of General Dynamics from $400.00 to $440.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Sanford C. Bernstein increased their price objective on shares of General Dynamics from $365.00 to $386.00 and gave the company a “market perform” rating in a research report on Tuesday, November 3rd. Finally, Royal Bank Of Canada lifted their price objective on shares of General Dynamics from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Monday, November 2nd. Eleven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $408.94.

Insiders Place Their Bets

In other General Dynamics news, Director Robert K. Steel sold 7,440 shares of the business’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $346.05, for a total transaction of $2,574,612.00. Following the transaction, the director owned 3,096 shares in the company, valued at $1,071,370.80. The trade was a 70.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Phebe N. Novakovic sold 45,353 shares of the stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $361.42, for a total transaction of $16,391,481.26. Following the completion of the sale, the chief executive officer directly owned 766,457 shares in the company, valued at approximately $277,012,888.94. This represents a 5.59% decrease in their position. The SEC filing for this sale provides additional information. 1.40% of the stock is owned by company insiders.

General Dynamics Trading Up 2.2%

Shares of GD stock opened at $361.94 on Tuesday. The company has a market cap of $97.80 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 2.06 and a beta of 0.30. General Dynamics Corporation has a 1 year low of $306.77 and a 1 year high of $400.00. The stock’s 50 day simple moving average is $349.41 and its two-hundred day simple moving average is $355.04. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 0.94.

General Dynamics (NYSE:GD) last announced its earnings results on Friday, October 30th. The aerospace company reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $4.12 by $0.37. The firm had revenue of $14.57 billion during the quarter, compared to analysts’ expectations of $13.72 billion. General Dynamics had a return on equity of 17.60% and a net margin of 8.24%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.88 EPS. Research analysts predict that General Dynamics Corporation will post 17.29 earnings per share for the current year.

General Dynamics Profile

General Dynamics Corporation is an aerospace and defense company that develops and manufactures products and provides services for commercial, government and military customers. Its businesses span aerospace, marine systems, combat systems and defense technologies.

The company makes Gulfstream business jets and provides aircraft services. Its marine systems operations design and build submarines and surface ships, while its combat systems business produces military vehicles, weapons systems and munitions.