Palisade Asset Management LLC Has $13.28 Million Holdings in General Dynamics Co. (NYSE:GD)

Palisade Asset Management LLC reduced its position in shares of General Dynamics Co. (NYSE:GD) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,929 shares of the aerospace company’s stock after selling 486 shares during the quarter. General Dynamics accounts for approximately 1.3% of Palisade Asset Management LLC’s investment portfolio, making the stock its 25th biggest holding. Palisade Asset Management LLC’s holdings in General Dynamics were worth $13,275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GD. Massachusetts Financial Services Co. MA increased its position in General Dynamics by 2.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock worth $2,366,124,000 after buying an additional 189,904 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in General Dynamics by 2.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after acquiring an additional 115,063 shares during the period. Ameriprise Financial Inc. boosted its position in General Dynamics by 2.4% during the second quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock worth $601,756,000 after purchasing an additional 47,915 shares during the period. Boston Partners raised its position in shares of General Dynamics by 1.4% in the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after purchasing an additional 23,262 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of General Dynamics by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock worth $466,049,000 after buying an additional 23,304 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction dated 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 owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 26.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.52% of the stock is currently owned by insiders.

General Dynamics Stock Up 0.7 %

NYSE GD opened at $281.81 on Friday. 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 price of $300.44 and a two-hundred day moving average price of $295.98. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The stock has a market capitalization of $77.49 billion, a PE ratio of 21.46, a PEG ratio of 1.69 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings data 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 business had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. General Dynamics’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.04 earnings per share. Equities analysts expect that General Dynamics Co. will post 13.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Sanford C. Bernstein lowered their price objective on 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. Barclays lifted their target price on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target 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 equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and an average target price of $323.69.

General Dynamics 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.