General Dynamics Corporation $GD Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. decreased its position in shares of General Dynamics Corporation (NYSE:GD) by 20.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,450 shares of the aerospace company’s stock after selling 1,369 shares during the period. Confluence Wealth Services Inc.’s holdings in General Dynamics were worth $1,808,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of General Dynamics in the second quarter worth $6,840,590,000. Bank of America Corp DE purchased a new position in shares of General Dynamics during the 2nd quarter valued at $2,603,527,000. Corient Private Wealth LP purchased a new position in shares of General Dynamics during the 2nd quarter valued at $57,986,000. Bank of New York Mellon Corp purchased a new position in shares of General Dynamics during the 2nd quarter valued at $429,073,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in General Dynamics in the 2nd quarter worth $224,983,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citigroup increased their price target on General Dynamics from $374.00 to $400.00 and gave the stock a “neutral” rating in a research note on Monday, November 2nd. UBS Group upped their price objective on General Dynamics from $395.00 to $408.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 8th. Morgan Stanley increased their target price on General Dynamics from $465.00 to $480.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of General Dynamics in a research note on Monday, September 28th. Finally, Sanford C. Bernstein lifted their target price on General Dynamics from $365.00 to $386.00 and gave the stock a “market perform” rating in a report on Tuesday, November 3rd. Eleven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $408.94.

General Dynamics Trading Down 0.1%

Shares of GD opened at $367.06 on Thursday. The company’s fifty day moving average is $349.28 and its 200 day moving average is $355.06. General Dynamics Corporation has a fifty-two week low of $306.77 and a fifty-two week high of $400.00. The stock has a market capitalization of $99.19 billion, a PE ratio of 21.59, a P/E/G ratio of 2.07 and a beta of 0.30. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 1.43.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Friday, October 30th. The aerospace company reported $4.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.12 by $0.37. General Dynamics had a net margin of 8.24% and a return on equity of 17.60%. The company had revenue of $14.57 billion for the quarter, compared to the consensus estimate of $13.72 billion. During the same quarter in the prior year, the firm earned $3.88 earnings per share. General Dynamics’s revenue was up 12.9% on a year-over-year basis. Sell-side analysts expect that General Dynamics Corporation will post 17.29 earnings per share for the current fiscal year.

Insider Transactions at General Dynamics

In other General Dynamics news, Director Robert K. Steel sold 7,440 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was sold at an average price of $346.05, for a total transaction of $2,574,612.00. Following the sale, the director directly owned 3,096 shares of the company’s stock, valued at $1,071,370.80. The trade was a 70.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Phebe N. Novakovic sold 45,353 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $361.42, for a total value of $16,391,481.26. Following the sale, the chief executive officer owned 766,457 shares in the company, valued at approximately $277,012,888.94. This trade represents a 5.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.40% of the company’s stock.

General Dynamics Profile

General Dynamics Corporation is an aerospace and defense company that develops and manufactures products and provides services for commercial, government and military customers. Its businesses span aerospace, marine systems, combat systems and defense technologies. The company makes Gulfstream business jets and provides aircraft services. Its marine systems operations design and build submarines and surface ships, while its combat systems business produces military vehicles, weapons systems and munitions.