Commerce Bank Reduces Stock Position in General Dynamics Co. (NYSE:GD)

Commerce Bank cut its stake in General Dynamics Co. (NYSE:GD) by 1.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 60,024 shares of the aerospace company’s stock after selling 661 shares during the quarter. Commerce Bank’s holdings in General Dynamics were worth $18,139,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GD. Global X Japan Co. Ltd. increased its stake 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 buying an additional 33 shares during the period. Coston McIsaac & Partners grew its holdings in General Dynamics by 22.8% during the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock worth $53,000 after acquiring an additional 33 shares in the last quarter. Grove Bank & Trust grew its holdings in General Dynamics by 10.6% during the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after acquiring an additional 34 shares in the last quarter. Trueblood Wealth Management LLC grew its holdings in General Dynamics by 1.6% during the 3rd quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock worth $672,000 after acquiring an additional 34 shares in the last quarter. Finally, Modera Wealth Management LLC grew its holdings in General Dynamics by 0.4% during the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock worth $2,356,000 after acquiring an additional 35 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 26.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Sanford C. Bernstein decreased their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Susquehanna raised their price objective on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a report on Friday, November 1st. Finally, Wells Fargo & Company lifted their price target on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Seven research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.69.

General Dynamics Trading Down 0.3 %

General Dynamics stock opened at $279.98 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $301.32 and a two-hundred day moving average price of $296.16. The firm has a market capitalization of $76.99 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 1.74 and a beta of 0.61. General Dynamics Co. has a 52-week low of $243.87 and a 52-week high of $316.90.

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. Sell-side analysts expect that General Dynamics Co. will post 13.98 earnings per share for the current year.

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.