2,021 General Dynamics Corporation $GD Shares Sold by Palisade Asset Management LLC

Palisade Asset Management LLC cut its stake in General Dynamics Corporation (NYSE:GD) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,105 shares of the aerospace company’s stock after selling 2,021 shares during the quarter. General Dynamics accounts for about 1.3% of Palisade Asset Management LLC’s investment portfolio, making the stock its 27th largest holding. Palisade Asset Management LLC’s holdings in General Dynamics were worth $13,640,000 as of its most recent filing with the Securities & Exchange Commission.

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

General Dynamics Price Performance

Shares of General Dynamics stock opened at $353.88 on Friday. The stock has a market cap of $95.63 billion, a P/E ratio of 20.82, a P/E/G ratio of 1.99 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. The stock’s fifty day moving average is $349.76 and its 200 day moving average is $355.05. General Dynamics Corporation has a one year low of $306.77 and a one year high of $400.00.

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 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 return on equity of 17.60% and a net margin of 8.24%. General Dynamics’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.88 earnings per share. Sell-side analysts anticipate that General Dynamics Corporation will post 17.29 earnings per share for the current year.

Insider Buying and Selling at General Dynamics

In related 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 completion of the transaction, the director directly owned 3,096 shares in the company, valued at approximately $1,071,370.80. The trade was a 70.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GD has been the topic of several research reports. Citigroup raised their target price on General Dynamics from $374.00 to $400.00 and gave the stock a “neutral” rating in a research report on Monday, November 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $384.00 price target on shares of General Dynamics in a research note on Thursday, July 30th. TD Cowen reduced their price target on shares of General Dynamics from $420.00 to $380.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Royal Bank Of Canada increased their price objective on shares of General Dynamics from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Monday, November 2nd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $455.00 price objective on shares of General Dynamics in a report on Monday, November 2nd. Eleven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $408.94.

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.