Toronto Dominion Bank Sells 99,232 Shares of General Dynamics Corporation (GD)
Toronto Dominion Bank reduced its stake in shares of General Dynamics Corporation (NYSE:GD) by 40.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 147,160 shares of the aerospace company’s stock after selling 99,232 shares during the period. Toronto Dominion Bank’s holdings in General Dynamics Corporation were worth $30,250,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Homrich & Berg lifted its holdings in General Dynamics Corporation by 50.7% in the first quarter. Homrich & Berg now owns 2,095 shares of the aerospace company’s stock valued at $392,000 after acquiring an additional 705 shares during the last quarter. Teachers Advisors LLC lifted its holdings in General Dynamics Corporation by 92.8% in the first quarter. Teachers Advisors LLC now owns 578,526 shares of the aerospace company’s stock valued at $108,300,000 after acquiring an additional 278,394 shares during the last quarter. TIAA CREF Investment Management LLC lifted its holdings in General Dynamics Corporation by 59.6% in the first quarter. TIAA CREF Investment Management LLC now owns 1,809,357 shares of the aerospace company’s stock valued at $338,712,000 after acquiring an additional 675,324 shares during the last quarter. Twin Tree Management LP acquired a new position in General Dynamics Corporation in the first quarter valued at approximately $2,719,000. Finally, Royce & Associates LP lifted its holdings in General Dynamics Corporation by 48.5% in the first quarter. Royce & Associates LP now owns 24,500 shares of the aerospace company’s stock valued at $4,586,000 after acquiring an additional 8,000 shares during the last quarter. Institutional investors and hedge funds own 85.79% of the company’s stock.
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General Dynamics Corporation (NYSE GD) traded up $0.80 during trading on Monday, hitting $200.58. The stock had a trading volume of 678,437 shares, compared to its average volume of 1,154,326. General Dynamics Corporation has a 1-year low of $164.09 and a 1-year high of $214.81. The company has a quick ratio of 0.93, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $59,910.00, a price-to-earnings ratio of 19.84, a P/E/G ratio of 2.39 and a beta of 0.73.
General Dynamics Corporation (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.09. The business had revenue of $7.58 billion for the quarter, compared to analyst estimates of $7.94 billion. General Dynamics Corporation had a return on equity of 27.98% and a net margin of 9.94%. The company’s revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.36 earnings per share. equities research analysts expect that General Dynamics Corporation will post 9.81 EPS for the current year.
In related news, VP Gregory S. Gallopoulos sold 78,370 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $202.93, for a total value of $15,903,624.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Patrick Casey sold 34,945 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $201.38, for a total value of $7,037,224.10. Following the completion of the transaction, the insider now directly owns 144,378 shares in the company, valued at approximately $29,074,841.64. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
A number of research firms have commented on GD. BidaskClub cut General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Cowen and Company restated a “buy” rating and set a $230.00 price target on shares of General Dynamics Corporation in a research note on Thursday, October 26th. Morgan Stanley began coverage on General Dynamics Corporation in a research note on Tuesday, August 8th. They set an “underweight” rating and a $185.00 price target on the stock. ValuEngine cut General Dynamics Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, Credit Suisse Group restated an “outperform” rating and set a $238.00 price target (up from $216.00) on shares of General Dynamics Corporation in a research note on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $217.19.
About General Dynamics Corporation
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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