Johnson Investment Counsel Inc. Has $651,000 Holdings in General Dynamics Co. (NYSE:GD)

Johnson Investment Counsel Inc. cut its stake in General Dynamics Co. (NYSE:GD) by 14.3% in the second quarter, Holdings Channel.com reports. The firm owned 3,026 shares of the aerospace company’s stock after selling 504 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in General Dynamics were worth $651,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GD. Professional Advisory Services Inc. lifted its position in General Dynamics by 18.9% during the second quarter. Professional Advisory Services Inc. now owns 88,493 shares of the aerospace company’s stock worth $19,039,000 after acquiring an additional 14,038 shares during the last quarter. Bank of Nova Scotia lifted its position in General Dynamics by 9.3% during the second quarter. Bank of Nova Scotia now owns 21,767 shares of the aerospace company’s stock worth $4,683,000 after acquiring an additional 1,847 shares during the last quarter. McKinley Carter Wealth Services Inc. lifted its position in General Dynamics by 13.8% during the second quarter. McKinley Carter Wealth Services Inc. now owns 6,572 shares of the aerospace company’s stock worth $1,414,000 after acquiring an additional 798 shares during the last quarter. Financial Counselors Inc. lifted its position in General Dynamics by 4.9% during the first quarter. Financial Counselors Inc. now owns 1,943 shares of the aerospace company’s stock worth $443,000 after acquiring an additional 91 shares during the last quarter. Finally, Brady Family Wealth LLC lifted its position in General Dynamics by 0.5% during the second quarter. Brady Family Wealth LLC now owns 13,264 shares of the aerospace company’s stock worth $2,854,000 after acquiring an additional 61 shares during the last quarter. 86.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on GD shares. Citigroup reaffirmed a “buy” rating and set a $283.00 target price on shares of General Dynamics in a report on Tuesday, September 19th. Deutsche Bank Aktiengesellschaft started coverage on shares of General Dynamics in a report on Wednesday, September 27th. They set a “buy” rating and a $271.00 target price on the stock. Bank Of America (Bofa) lifted their price objective on shares of General Dynamics from $295.00 to $305.00 and gave the company a “buy” rating in a research note on Tuesday, October 24th. UBS Group started coverage on shares of General Dynamics in a research note on Tuesday, October 10th. They issued a “neutral” rating and a $265.00 price objective on the stock. Finally, Susquehanna lifted their price objective on shares of General Dynamics from $270.00 to $285.00 and gave the company a “positive” rating in a research note on Thursday, October 26th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $263.43.

General Dynamics Price Performance

Shares of NYSE:GD opened at $245.78 on Tuesday. The firm has a market cap of $67.07 billion, a PE ratio of 20.55, a price-to-earnings-growth ratio of 2.18 and a beta of 0.77. The firm’s fifty day moving average is $233.47 and its 200-day moving average is $222.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.91 and a current ratio of 1.43. General Dynamics Co. has a 52 week low of $202.35 and a 52 week high of $256.86.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.17. The company had revenue of $10.57 billion for the quarter, compared to analyst estimates of $10.05 billion. General Dynamics had a net margin of 7.97% and a return on equity of 17.13%. General Dynamics’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.26 earnings per share. Sell-side analysts predict that General Dynamics Co. will post 12.59 earnings per share for the current year.

Insider Activity at General Dynamics

In related news, VP Gregory S. Gallopoulos sold 33,200 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $238.37, for a total value of $7,913,884.00. Following the transaction, the vice president now owns 113,319 shares in the company, valued at $27,011,850.03. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.52% of the stock is owned by company insiders.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.