Great Lakes Advisors LLC Sells 3,916 Shares of General Dynamics Co. (GD)

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Great Lakes Advisors LLC cut its position in General Dynamics Co. (NYSE:GD) by 46.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,474 shares of the aerospace company’s stock after selling 3,916 shares during the quarter. Great Lakes Advisors LLC’s holdings in General Dynamics were worth $916,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GD. Pittenger & Anderson Inc. increased its holdings in shares of General Dynamics by 1.0% during the third quarter. Pittenger & Anderson Inc. now owns 26,283 shares of the aerospace company’s stock valued at $5,381,000 after acquiring an additional 267 shares in the last quarter. Linscomb & Williams Inc. increased its holdings in shares of General Dynamics by 12.1% during the third quarter. Linscomb & Williams Inc. now owns 2,504 shares of the aerospace company’s stock valued at $513,000 after acquiring an additional 270 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of General Dynamics by 1.0% during the second quarter. Oppenheimer & Co. Inc. now owns 27,116 shares of the aerospace company’s stock valued at $5,054,000 after acquiring an additional 275 shares in the last quarter. Westbourne Investment Advisors Inc. increased its holdings in shares of General Dynamics by 15.0% during the third quarter. Westbourne Investment Advisors Inc. now owns 2,110 shares of the aerospace company’s stock valued at $432,000 after acquiring an additional 275 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its holdings in shares of General Dynamics by 0.8% during the second quarter. Mutual of America Capital Management LLC now owns 35,170 shares of the aerospace company’s stock valued at $6,556,000 after acquiring an additional 277 shares in the last quarter. Institutional investors and hedge funds own 86.36% of the company’s stock.

In other news, Director Mark Malcolm acquired 3,000 shares of General Dynamics stock in a transaction that occurred on Friday, October 26th. The stock was purchased at an average cost of $169.87 per share, with a total value of $509,610.00. Following the purchase, the director now owns 4,455 shares in the company, valued at $756,770.85. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Catherine B. Reynolds acquired 600 shares of General Dynamics stock in a transaction that occurred on Friday, December 7th. The stock was purchased at an average cost of $167.64 per share, with a total value of $100,584.00. Following the completion of the purchase, the director now owns 1,153 shares in the company, valued at approximately $193,288.92. The disclosure for this purchase can be found here. Corporate insiders own 6.90% of the company’s stock.

Shares of NYSE GD opened at $162.81 on Wednesday. The company has a market capitalization of $48.41 billion, a P/E ratio of 16.36, a PEG ratio of 1.36 and a beta of 0.98. General Dynamics Co. has a 52 week low of $161.82 and a 52 week high of $230.00. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.87 and a current ratio of 1.27.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, October 24th. The aerospace company reported $2.89 EPS for the quarter, beating the Zacks’ consensus estimate of $2.76 by $0.13. General Dynamics had a return on equity of 27.22% and a net margin of 9.01%. The firm had revenue of $9.09 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same quarter in the prior year, the firm earned $2.52 earnings per share. General Dynamics’s revenue for the quarter was up 20.0% on a year-over-year basis. Sell-side analysts predict that General Dynamics Co. will post 11.31 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Stockholders of record on Friday, January 18th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Thursday, January 17th. General Dynamics’s payout ratio is 37.39%.

Several equities analysts have recently issued reports on the stock. Robert W. Baird cut their price objective on shares of General Dynamics from $243.00 to $222.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Stifel Nicolaus cut their price objective on shares of General Dynamics from $210.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, October 26th. Barclays cut their price objective on shares of General Dynamics from $256.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday, December 4th. Zacks Investment Research downgraded shares of General Dynamics from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Finally, Argus cut their price objective on shares of General Dynamics from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $227.44.

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General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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