Versor Investments LP Lowers Stake in General Dynamics Co. (NYSE:GD)

Versor Investments LP lessened its position in shares of General Dynamics Co. (NYSE:GD) by 61.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,198 shares of the aerospace company’s stock after selling 1,900 shares during the period. Versor Investments LP’s holdings in General Dynamics were worth $362,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of General Dynamics during the 1st quarter worth $361,000. First Foundation Advisors grew its position in shares of General Dynamics by 28.1% during the first quarter. First Foundation Advisors now owns 1,376 shares of the aerospace company’s stock worth $389,000 after acquiring an additional 302 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its stake in General Dynamics by 2.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,778 shares of the aerospace company’s stock valued at $502,000 after purchasing an additional 44 shares during the period. Intech Investment Management LLC raised its stake in General Dynamics by 405.7% during the 1st quarter. Intech Investment Management LLC now owns 12,172 shares of the aerospace company’s stock valued at $3,438,000 after acquiring an additional 9,765 shares during the last quarter. Finally, TIAA Trust National Association increased its stake in General Dynamics by 2.8% in the 1st quarter. TIAA Trust National Association now owns 7,814 shares of the aerospace company’s stock valued at $2,207,000 after buying an additional 211 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This trade represents a 26.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.52% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GD has been the subject of several recent analyst reports. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Citigroup raised their price target on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays increased their target price on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Wells Fargo & Company increased their price target on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein decreased their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $323.69.

General Dynamics Stock Performance

NYSE GD opened at $288.01 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. General Dynamics Co. has a 1-year low of $243.87 and a 1-year high of $316.90. The company has a 50 day moving average of $302.55 and a 200-day moving average of $296.20. The firm has a market cap of $79.19 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 1.90 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS 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 analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.04 EPS. On average, equities analysts forecast that General Dynamics Co. will post 13.97 earnings per share for the current fiscal 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.