Glenmede Trust Co. NA Trims Stock Position in General Dynamics Co. (NYSE:GD)

Glenmede Trust Co. NA decreased its holdings in General Dynamics Co. (NYSE:GD) by 0.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,040 shares of the aerospace company’s stock after selling 40 shares during the quarter. Glenmede Trust Co. NA’s holdings in General Dynamics were worth $9,380,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in GD. Freedom Investment Management Inc. grew its holdings in General Dynamics by 0.9% during the third quarter. Freedom Investment Management Inc. now owns 4,344 shares of the aerospace company’s stock valued at $1,313,000 after purchasing an additional 37 shares during the period. Townsquare Capital LLC lifted its position in shares of General Dynamics by 3.5% during the 3rd quarter. Townsquare Capital LLC now owns 39,872 shares of the aerospace company’s stock valued at $12,049,000 after buying an additional 1,339 shares in the last quarter. Cadence Bank grew its stake in shares of General Dynamics by 2.1% during the 3rd quarter. Cadence Bank now owns 36,072 shares of the aerospace company’s stock valued at $10,901,000 after acquiring an additional 758 shares during the period. Principal Street Partners LLC increased its holdings in General Dynamics by 97.8% in the 3rd quarter. Principal Street Partners LLC now owns 1,608 shares of the aerospace company’s stock worth $467,000 after acquiring an additional 795 shares in the last quarter. Finally, Sanders Capital LLC raised its stake in General Dynamics by 1.2% during the 3rd quarter. Sanders Capital LLC now owns 4,178,460 shares of the aerospace company’s stock worth $1,262,731,000 after acquiring an additional 49,397 shares during the period. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Trading Up 0.6 %

Shares of GD stock opened at $284.06 on Friday. The company has a market cap of $78.11 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 1.71 and a beta of 0.61. 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’s 50 day simple moving average is $298.17 and its two-hundred day simple moving average is $295.56. General Dynamics Co. has a 1 year low of $245.01 and a 1 year high of $316.90.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (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 during the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter in the prior year, the business earned $3.04 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. Research analysts predict that General Dynamics Co. will post 13.98 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GD shares. Susquehanna upped their price target on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Citigroup increased their target price on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company boosted their price target on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Seven 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, General Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $323.69.

Insider Activity at General Dynamics

In related 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 transaction of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares in the company, valued at $1,106,515.60. The trade was a 26.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the sale, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. The trade was a 21.44 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by insiders.

About General Dynamics

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.