General Dynamics Co. (NYSE:GD) Stock Position Cut by Norway Savings Bank

Norway Savings Bank lessened its stake in General Dynamics Co. (NYSE:GD) by 4.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,349 shares of the aerospace company’s stock after selling 150 shares during the quarter. Norway Savings Bank’s holdings in General Dynamics were worth $657,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. boosted its position in shares of General Dynamics by 3.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 129,624 shares of the aerospace company’s stock valued at $24,402,000 after purchasing an additional 4,054 shares in the last quarter. Burney Co. boosted its position in shares of General Dynamics by 7.1% during the 2nd quarter. Burney Co. now owns 74,146 shares of the aerospace company’s stock valued at $13,958,000 after purchasing an additional 4,900 shares in the last quarter. Prospera Financial Services Inc boosted its position in shares of General Dynamics by 8,915.9% during the 2nd quarter. Prospera Financial Services Inc now owns 1,894,060 shares of the aerospace company’s stock valued at $2,169,000 after purchasing an additional 1,873,052 shares in the last quarter. Atria Investments LLC boosted its position in shares of General Dynamics by 24.7% during the 2nd quarter. Atria Investments LLC now owns 24,322 shares of the aerospace company’s stock valued at $4,579,000 after purchasing an additional 4,811 shares in the last quarter. Finally, Soltis Investment Advisors LLC boosted its position in shares of General Dynamics by 11.0% during the 2nd quarter. Soltis Investment Advisors LLC now owns 11,531 shares of the aerospace company’s stock valued at $2,171,000 after purchasing an additional 1,140 shares in the last quarter. Hedge funds and other institutional investors own 85.08% of the company’s stock.

Several research firms have recently weighed in on GD. Susquehanna Bancshares raised their price objective on shares of General Dynamics from $225.00 to $240.00 and gave the company a “positive” rating in a research report on Thursday, October 28th. Zacks Investment Research upgraded shares of General Dynamics from a “hold” rating to a “buy” rating and set a $208.00 target price for the company in a report on Thursday, August 5th. Susquehanna raised their target price on shares of General Dynamics from $225.00 to $240.00 and gave the stock a “positive” rating in a report on Thursday, October 28th. Cowen reiterated a “buy” rating on shares of General Dynamics in a report on Monday, August 9th. Finally, The Goldman Sachs Group upgraded shares of General Dynamics from a “sell” rating to a “neutral” rating and set a $176.00 target price for the company in a report on Thursday, September 23rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $213.91.

NYSE GD opened at $198.74 on Thursday. The company has a 50 day simple moving average of $200.79 and a 200-day simple moving average of $196.01. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 1.10. The firm has a market capitalization of $55.49 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. General Dynamics Co. has a 52-week low of $144.50 and a 52-week high of $210.21.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, October 27th. The aerospace company reported $3.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.10. The business had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.86 billion. General Dynamics had a net margin of 8.55% and a return on equity of 21.32%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.90 earnings per share. On average, analysts predict that General Dynamics Co. will post 11.53 EPS for the current year.

General Dynamics Profile

General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, and Marine Systems.

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

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