3,101 General Dynamics Corporation $GD Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its holdings in shares of General Dynamics Corporation (NYSE:GD) by 14.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,111 shares of the aerospace company’s stock after selling 3,101 shares during the quarter. King Luther Capital Management Corp’s holdings in General Dynamics were worth $6,342,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Oxford Financial Group LTD. LLC lifted its stake in shares of General Dynamics by 1.9% in the 2nd quarter. Oxford Financial Group LTD. LLC now owns 1,426 shares of the aerospace company’s stock valued at $505,000 after purchasing an additional 26 shares during the last quarter. Willner & Heller LLC boosted its holdings in General Dynamics by 1.4% in the second quarter. Willner & Heller LLC now owns 2,050 shares of the aerospace company’s stock worth $726,000 after purchasing an additional 28 shares in the last quarter. Meriwether Wealth & Planning LLC boosted its holdings in General Dynamics by 0.8% in the second quarter. Meriwether Wealth & Planning LLC now owns 3,443 shares of the aerospace company’s stock worth $1,220,000 after purchasing an additional 28 shares in the last quarter. Gryphon Financial Partners LLC increased its position in General Dynamics by 0.9% during the third quarter. Gryphon Financial Partners LLC now owns 3,083 shares of the aerospace company’s stock worth $1,023,000 after buying an additional 28 shares during the last quarter. Finally, Capital Advisors Inc. OK increased its position in General Dynamics by 0.6% during the second quarter. Capital Advisors Inc. OK now owns 4,551 shares of the aerospace company’s stock worth $1,612,000 after buying an additional 29 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Activity

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 owned 3,096 shares of the company’s stock, valued at $1,071,370.80. This trade represents a 70.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Phebe N. Novakovic sold 45,353 shares of General Dynamics stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $361.42, for a total value of $16,391,481.26. Following the completion of the transaction, the chief executive officer directly owned 766,457 shares in the company, valued at approximately $277,012,888.94. This represents a 5.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.40% of the stock is currently owned by insiders.

General Dynamics Stock Performance

Shares of GD opened at $363.05 on Friday. The company has a market capitalization of $98.10 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 2.07 and a beta of 0.30. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 0.94. General Dynamics Corporation has a one year low of $306.77 and a one year high of $400.00. The company’s fifty day moving average price is $349.26 and its 200 day moving average price is $355.06.

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. The company had revenue of $14.57 billion during the quarter, compared to analysts’ expectations of $13.72 billion. General Dynamics had a net margin of 8.24% and a return on equity of 17.60%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.88 earnings per share. As a group, analysts expect that General Dynamics Corporation will post 17.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GD. UBS Group raised their target price on General Dynamics from $395.00 to $408.00 and gave the company a “neutral” rating in a report on Tuesday, September 8th. Royal Bank Of Canada upped their price target on General Dynamics from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Monday, November 2nd. Wells Fargo & Company increased their price objective on General Dynamics from $400.00 to $440.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Jefferies Financial Group reissued a “buy” rating and issued a $455.00 price objective on shares of General Dynamics in a research note on Monday, November 2nd. Finally, Citigroup boosted their target price on General Dynamics from $374.00 to $400.00 and gave the stock a “neutral” rating in a report on Monday, November 2nd. Eleven equities 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. According to MarketBeat, the stock presently 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.