Today: Today, 1,279 Shares of General Dynamics Corp. (GD) are sold by Forward Management LLC

Today, 1,279 Shares of General Dynamics Corp. (GD) are sold by Forward Management LLC

Forward Management LLC decreased its position in General Dynamics Corp. (NYSE:GD) by 17.6% during the third quarter, Holdings Channel reports. The fund owned 5,998 shares of the company’s stock after selling 1,279 shares during the period. Forward Management LLC’s holdings in General Dynamics Corp. were worth $931,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. raised its stake in General Dynamics Corp. by 55.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 4,570 shares of the company’s stock worth $600,000 after buying an additional 1,630 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in General Dynamics Corp. by 8.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,215 shares of the company’s stock worth $2,131,000 after buying an additional 1,203 shares during the last quarter. First Republic Investment Management Inc. raised its stake in General Dynamics Corp. by 43.3% in the first quarter. First Republic Investment Management Inc. now owns 20,045 shares of the company’s stock worth $2,634,000 after buying an additional 6,056 shares during the last quarter. Fulton Bank N.A. purchased a new stake in General Dynamics Corp. during the second quarter worth $293,000. Finally, New England Research & Management Inc. raised its stake in General Dynamics Corp. by 25.0% in the second quarter. New England Research & Management Inc. now owns 2,750 shares of the company’s stock worth $383,000 after buying an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 87.01% of the company’s stock.

Shares of General Dynamics Corp. (NYSE:GD) traded up 0.63% during midday trading on Monday, hitting $173.16. 833,121 shares of the company’s stock traded hands. The stock has a market cap of $52.63 billion, a P/E ratio of 18.53 and a beta of 0.69. General Dynamics Corp. has a 52 week low of $121.61 and a 52 week high of $173.50. The company has a 50 day moving average of $156.87 and a 200 day moving average of $149.06.

General Dynamics Corp. (NYSE:GD) last released its earnings results on Wednesday, October 26th. The company reported $2.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.38 by $0.10. The company earned $7.73 billion during the quarter, compared to analysts’ expectations of $7.91 billion. General Dynamics Corp. had a return on equity of 27.68% and a net margin of 9.45%. The business’s revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.28 EPS. On average, equities analysts forecast that General Dynamics Corp. will post $9.77 EPS for the current fiscal year.

GD has been the topic of a number of recent research reports. Argus upped their target price on shares of General Dynamics Corp. from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, August 2nd. Jefferies Group restated a “buy” rating on shares of General Dynamics Corp. in a research note on Wednesday, August 3rd. Sanford C. Bernstein upgraded shares of General Dynamics Corp. from a “market perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a research note on Wednesday, August 10th. They noted that the move was a valuation call. Citigroup Inc. increased their price target on shares of General Dynamics Corp. from $162.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, September 6th. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of General Dynamics Corp. in a research note on Friday, September 23rd. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $161.37.

In related news, insider Robert W. Helm sold 149,910 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $152.43, for a total transaction of $22,850,781.30. Following the sale, the insider now directly owns 108,119 shares of the company’s stock, valued at approximately $16,480,579.17. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Kimberly A. Kuryea sold 4,117 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $154.56, for a total value of $636,323.52. Following the sale, the vice president now directly owns 36,412 shares in the company, valued at $5,627,838.72. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.

General Dynamics Corp. Company Profile

General Dynamics Corporation is an aerospace and defense company that offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions and information technology (IT) services, and shipbuilding.

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