General Dynamics Corporation $GD Position Decreased by Fifth Third Bancorp

Fifth Third Bancorp trimmed its position in General Dynamics Corporation (NYSE:GD) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 285,521 shares of the aerospace company’s stock after selling 1,724 shares during the period. Fifth Third Bancorp’s holdings in General Dynamics were worth $94,745,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wellington Altus USA Inc. grew its stake in shares of General Dynamics by 77.8% during the second quarter. Wellington Altus USA Inc. now owns 80 shares of the aerospace company’s stock worth $27,000 after acquiring an additional 35 shares during the last quarter. Downshift Financial LLC increased its stake in General Dynamics by 134.3% during the 3rd quarter. Downshift Financial LLC now owns 82 shares of the aerospace company’s stock valued at $27,000 after purchasing an additional 47 shares in the last quarter. Morton Brown Family Wealth LLC increased its stake in General Dynamics by 182.8% during the 3rd quarter. Morton Brown Family Wealth LLC now owns 82 shares of the aerospace company’s stock valued at $27,000 after purchasing an additional 53 shares in the last quarter. John Boyer Inc. purchased a new position in shares of General Dynamics in the third quarter worth $28,000. Finally, Scarborough Advisors LLC purchased a new position in shares of General Dynamics in the first quarter worth $29,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Transactions at General Dynamics

In other General Dynamics news, Director Robert K. Steel sold 7,440 shares of the firm’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 value of $2,574,612.00. Following the sale, the director directly owned 3,096 shares of the company’s stock, valued at approximately $1,071,370.80. This trade represents a 70.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Phebe N. Novakovic sold 45,353 shares of the business’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 value of $16,391,481.26. Following the completion of the sale, the chief executive officer owned 766,457 shares of the company’s stock, valued at $277,012,888.94. This trade represents a 5.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on GD. Susquehanna lifted their price target on General Dynamics from $420.00 to $455.00 and gave the stock a “positive” rating in a research report on Thursday, July 30th. Deutsche Bank reissued a “hold” rating and set a $384.00 price target on shares of General Dynamics in a research report on Thursday, July 30th. Royal Bank Of Canada upped their price target on shares of General Dynamics from $360.00 to $400.00 and gave the company a “sector perform” rating in a report on Monday, November 2nd. Sanford C. Bernstein upped their target price on General Dynamics from $365.00 to $386.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 3rd. Finally, Wall Street Zen downgraded General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Eleven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $408.94.

General Dynamics Stock Down 1.1%

GD opened at $363.05 on Friday. The company has a fifty day moving average of $349.26 and a two-hundred day moving average of $355.06. 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 fifty-two week low of $306.77 and a fifty-two week high of $400.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 1.43.

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

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.