General Dynamics Co. (NYSE:GD) Holdings Cut by Bank of Hawaii

Bank of Hawaii lowered its stake in shares of General Dynamics Co. (NYSE:GD) by 3.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 9,013 shares of the aerospace company’s stock after selling 311 shares during the period. Bank of Hawaii’s holdings in General Dynamics were worth $2,724,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. MFA Wealth Advisors LLC boosted its position in General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 58 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of General Dynamics during the 3rd quarter valued at about $26,000. American Capital Advisory LLC acquired a new position in General Dynamics in the second quarter worth approximately $29,000. Lowe Wealth Advisors LLC acquired a new position in General Dynamics in the third quarter worth approximately $30,000. Finally, New Covenant Trust Company N.A. bought a new position in General Dynamics during the first quarter valued at approximately $29,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on GD shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Wells Fargo & Company upped their price objective on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Barclays boosted their price target on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Finally, TD Cowen raised General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $323.69.

General Dynamics Price Performance

NYSE:GD opened at $281.81 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. General Dynamics Co. has a one year low of $243.87 and a one year high of $316.90. The company has a fifty day moving average price of $300.44 and a 200 day moving average price of $296.02. The stock has a market cap of $77.49 billion, a P/E ratio of 21.46, a PEG ratio of 1.70 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 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same period in the prior year, the company posted $3.04 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. Analysts anticipate that General Dynamics Co. will post 13.98 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction on Monday, September 16th. The shares were 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 in the company, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

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.