Northcape Wealth Management LLC Cuts Stock Position in General Dynamics Co. (NYSE:GD)

Northcape Wealth Management LLC reduced its stake in General Dynamics Co. (NYSE:GD) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,742 shares of the aerospace company’s stock after selling 52 shares during the period. General Dynamics makes up about 1.6% of Northcape Wealth Management LLC’s investment portfolio, making the stock its 15th biggest holding. Northcape Wealth Management LLC’s holdings in General Dynamics were worth $4,757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of GD. Coston McIsaac & Partners lifted its holdings in General Dynamics by 22.8% in the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after buying an additional 33 shares in the last quarter. Global X Japan Co. Ltd. increased its holdings in General Dynamics by 2.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock worth $448,000 after purchasing an additional 33 shares during the last quarter. Grove Bank & Trust raised its position in shares of General Dynamics by 10.6% in the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock valued at $107,000 after purchasing an additional 34 shares in the last quarter. Trueblood Wealth Management LLC boosted its stake in shares of General Dynamics by 1.6% during the 3rd quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock valued at $672,000 after buying an additional 34 shares during the last quarter. Finally, Modera Wealth Management LLC increased its stake in shares of General Dynamics by 0.4% in the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock worth $2,356,000 after buying an additional 35 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.52% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft decreased their target price on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Citigroup upped their price target on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada boosted their target price on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein reduced their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $323.69.

General Dynamics Price Performance

Shares of GD opened at $288.01 on Friday. The firm has a market capitalization of $79.19 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 1.90 and a beta of 0.61. The stock’s fifty day moving average is $302.45 and its 200-day moving average is $296.21. General Dynamics Co. has a one year low of $243.87 and a one year high of $316.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter last year, the firm posted $3.04 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. Equities analysts anticipate that General Dynamics Co. will post 13.97 EPS for the current 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.