General Dynamics Corporation $GD Shares Sold by Bahl & Gaynor LLC

Bahl & Gaynor LLC reduced its holdings in shares of General Dynamics Corporation (NYSE:GD) by 1.5% in the third quarter, Holdings Channel reports. The institutional investor owned 569,786 shares of the aerospace company’s stock after selling 8,693 shares during the period. Bahl & Gaynor LLC’s holdings in General Dynamics were worth $189,072,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of General Dynamics in the 2nd quarter worth about $6,840,590,000. State Street Corp lifted its position in General Dynamics by 3.3% in the 2nd quarter. State Street Corp now owns 11,811,099 shares of the aerospace company’s stock valued at $4,183,964,000 after acquiring an additional 374,682 shares in the last quarter. Bank of America Corp DE acquired a new position in General Dynamics during the 2nd quarter valued at about $2,603,527,000. Sanders Capital LLC boosted its stake in General Dynamics by 0.3% during the 3rd quarter. Sanders Capital LLC now owns 3,555,708 shares of the aerospace company’s stock valued at $1,179,891,000 after purchasing an additional 9,552 shares during the last quarter. Finally, Corient Private Wealth LP increased its holdings in General Dynamics by 806.3% during the 2nd quarter. Corient Private Wealth LP now owns 1,661,702 shares of the aerospace company’s stock worth $588,641,000 after purchasing an additional 1,478,353 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on GD shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $384.00 price objective on shares of General Dynamics in a research note on Thursday, July 30th. UBS Group lifted their target price on General Dynamics from $395.00 to $408.00 and gave the company a “neutral” rating in a research report on Tuesday, September 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of General Dynamics in a report on Monday, September 28th. Wells Fargo & Company increased their price target on General Dynamics from $400.00 to $440.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Finally, Susquehanna raised their price objective on General Dynamics from $420.00 to $455.00 and gave the company a “positive” rating in a research note on Thursday, July 30th. Eleven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $408.94.

General Dynamics News Summary

Here are the key news stories impacting General Dynamics this week:

• Positive Sentiment: Technical momentum: GD crossed above its 200-day moving average, a level the report describes as resistance; the move may signal a more bullish longer-term trend. Article: General Dynamics crossed above the 200-day moving average
• Positive Sentiment: Growth outlook: A recap of GD’s Q3 earnings call characterized its signals as pointing to stronger growth ahead. The company’s latest reported quarter also beat earnings and revenue estimates, with revenue up 12.9% year over year. Article: General Dynamics earnings call signals stronger growth ahead
• Positive Sentiment: Growth-stock screening: Zacks highlighted GD as a strong growth stock using its Style Scores, adding to the positive growth narrative. Article: Why General Dynamics is a strong growth stock
• Negative Sentiment: Insider selling: CEO Phebe Novakovic sold 45,353 shares for about $16.4 million, reducing her direct stake by 5.59%. She still held 766,457 shares after the transaction; the sale may nevertheless raise investor caution. Article: General Dynamics CEO sells 45,353 shares

General Dynamics Trading Up 1.5%

NYSE:GD opened at $367.50 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 1.43. The firm has a market cap of $99.31 billion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 2.04 and a beta of 0.30. General Dynamics Corporation has a 52 week low of $306.77 and a 52 week high of $400.00. The firm has a 50-day moving average price of $349.32 and a two-hundred day moving average price of $355.05.

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

Insider Buying and Selling

In related news, Director Robert K. Steel sold 7,440 shares of General Dynamics stock in a transaction 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 in the company, valued at approximately $1,071,370.80. This trade represents a 70.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Phebe Novakovic sold 45,353 shares of the business’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $361.42, for a total value of $16,391,481.26. Following the completion of the transaction, the chief executive officer directly owned 766,457 shares in the company, valued at approximately $277,012,888.94. This represents a 5.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.40% of the company’s stock.

General Dynamics Company 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.