General Dynamics Corporation $GD Stock: Pictet Asset Management Holding SA Trims Stake

Pictet Asset Management Holding SA reduced its stake in shares of General Dynamics Corporation (NYSE:GD) by 6.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,704 shares of the aerospace company’s stock after selling 3,219 shares during the period. Pictet Asset Management Holding SA’s holdings in General Dynamics were worth $14,502,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Investment Management Corp VA ADV increased its holdings in General Dynamics by 4.3% in the third quarter. Investment Management Corp VA ADV now owns 1,641 shares of the aerospace company’s stock valued at $544,000 after buying an additional 68 shares during the last quarter. AlphaCentric Advisors LLC raised its stake in General Dynamics by 11.4% during the third quarter. AlphaCentric Advisors LLC now owns 892 shares of the aerospace company’s stock valued at $296,000 after buying an additional 91 shares in the last quarter. Plancorp LLC bought a new position in General Dynamics during the 3rd quarter worth approximately $218,000. May Hill Capital LLC lifted its holdings in General Dynamics by 13.6% during the 3rd quarter. May Hill Capital LLC now owns 726 shares of the aerospace company’s stock worth $241,000 after buying an additional 87 shares during the last quarter. Finally, Alps Advisors Inc. grew its position in shares of General Dynamics by 14.4% in the 3rd quarter. Alps Advisors Inc. now owns 16,421 shares of the aerospace company’s stock worth $5,449,000 after acquiring an additional 2,070 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Performance

GD stock opened at $363.05 on Friday. 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 stock has a market capitalization of $98.10 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 2.07 and a beta of 0.30. General Dynamics Corporation has a 1 year low of $306.77 and a 1 year high of $400.00. The stock’s fifty day moving average is $349.26 and its two-hundred day moving average is $355.06.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on GD. Wall Street Zen downgraded General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Royal Bank Of Canada upped their price target on General Dynamics from $360.00 to $400.00 and gave the company a “sector perform” rating in a research report on Monday, November 2nd. Citigroup raised their price objective on General Dynamics from $374.00 to $400.00 and gave the stock a “neutral” rating in a research note on Monday, November 2nd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $455.00 price objective on shares of General Dynamics in a report on Monday, November 2nd. Finally, Wells Fargo & Company boosted their target price on shares of General Dynamics from $400.00 to $440.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Eleven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $408.94.

Insider Activity

In other General Dynamics news, Director Robert K. Steel sold 7,440 shares of the company’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $346.05, for a total value of $2,574,612.00. Following the completion of the transaction, the director owned 3,096 shares in the company, valued at approximately $1,071,370.80. This represents a 70.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Phebe N. Novakovic sold 45,353 shares of the company’s stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $361.42, for a total transaction of $16,391,481.26. Following the completion of the transaction, the chief executive officer owned 766,457 shares of the company’s stock, valued at approximately $277,012,888.94. This trade represents a 5.59% decrease in their position. The SEC filing for this sale provides additional information. Company 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.