General Dynamics Corporation $GD Holdings Cut by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. trimmed its stake in General Dynamics Corporation (NYSE:GD) by 20.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,450 shares of the aerospace company’s stock after selling 1,369 shares during the quarter. Confluence Wealth Services Inc.’s holdings in General Dynamics were worth $1,808,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Wellington Altus USA Inc. boosted its stake in General Dynamics by 77.8% during the 2nd quarter. Wellington Altus USA Inc. now owns 80 shares of the aerospace company’s stock valued at $27,000 after purchasing an additional 35 shares during the last quarter. Downshift Financial LLC raised its stake in shares of General Dynamics by 134.3% in the third quarter. Downshift Financial LLC now owns 82 shares of the aerospace company’s stock worth $27,000 after purchasing an additional 47 shares during the last quarter. Morton Brown Family Wealth LLC raised its stake in shares of General Dynamics by 182.8% in the third quarter. Morton Brown Family Wealth LLC now owns 82 shares of the aerospace company’s stock worth $27,000 after purchasing an additional 53 shares during the last quarter. John Boyer Inc. bought a new position in shares of General Dynamics during the third quarter valued at $28,000. Finally, Scarborough Advisors LLC bought a new position in shares of General Dynamics during the first quarter valued at $29,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

General Dynamics Stock Down 0.1%

GD stock opened at $367.06 on Thursday. The company has a market cap of $99.19 billion, a price-to-earnings ratio of 21.59, a P/E/G ratio of 2.07 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 business’s 50-day moving average is $349.28 and its two-hundred day moving average is $355.06. General Dynamics Corporation has a fifty-two week low of $306.77 and a fifty-two week 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 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 business had revenue of $14.57 billion during the quarter, compared to the consensus estimate of $13.72 billion. During the same period in the previous year, the company posted $3.88 EPS. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, analysts forecast that General Dynamics Corporation will post 17.29 earnings per share for the current year.

Analysts Set New Price Targets

GD has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price objective on General Dynamics from $360.00 to $400.00 and gave the stock a “sector perform” rating in a report on Monday, November 2nd. Weiss Ratings restated a “buy (b)” rating on shares of General Dynamics in a research note on Monday, September 28th. Sanford C. Bernstein raised their price target on shares of General Dynamics from $365.00 to $386.00 and gave the company a “market perform” rating in a report on Tuesday, November 3rd. Morgan Stanley lifted their price target on shares of General Dynamics from $465.00 to $480.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 3rd. Finally, Wall Street Zen cut shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $408.94.

Insider Buying and Selling

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 shares were sold at an average price of $346.05, for a total transaction of $2,574,612.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Phebe Novakovic sold 45,353 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $361.42, for a total transaction of $16,391,481.26. Following the sale, the chief executive officer directly owned 766,457 shares of the company’s stock, valued at approximately $277,012,888.94. This represents a 5.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.40% of the company’s stock.

About General Dynamics

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.