Edgemoor Investment Advisors Inc. Reduces Stock Position in General Dynamics Co. (NYSE:GD)

Edgemoor Investment Advisors Inc. cut its stake in General Dynamics Co. (NYSE:GD) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,176 shares of the aerospace company’s stock after selling 833 shares during the quarter. General Dynamics comprises about 1.3% of Edgemoor Investment Advisors Inc.’s holdings, making the stock its 20th largest position. Edgemoor Investment Advisors Inc.’s holdings in General Dynamics were worth $11,871,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Certified Advisory Corp purchased a new position in shares of General Dynamics during the 1st quarter valued at $25,000. Guardian Wealth Advisors LLC purchased a new position in shares of General Dynamics during the first quarter worth about $28,000. NewSquare Capital LLC increased its position in shares of General Dynamics by 153.7% in the second quarter. NewSquare Capital LLC now owns 137 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 83 shares during the last quarter. Live Oak Investment Partners bought a new stake in General Dynamics during the fourth quarter valued at approximately $30,000. Finally, Resurgent Financial Advisors LLC purchased a new position in General Dynamics in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 86.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. StockNews.com started coverage on shares of General Dynamics in a report on Thursday, October 5th. They set a “buy” rating for the company. Citigroup reiterated a “buy” rating and set a $283.00 price objective on shares of General Dynamics in a research report on Tuesday, September 19th. Susquehanna upped their target price on General Dynamics from $270.00 to $285.00 and gave the stock a “positive” rating in a research note on Thursday, October 26th. UBS Group started coverage on shares of General Dynamics in a research note on Tuesday, October 10th. They set a “neutral” rating and a $265.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of General Dynamics in a research note on Wednesday, September 27th. They issued a “buy” rating and a $271.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $263.43.

Insider Buying and Selling

In other news, VP Gregory S. Gallopoulos sold 33,200 shares of General Dynamics stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $238.37, for a total transaction of $7,913,884.00. Following the sale, the vice president now owns 113,319 shares of the company’s stock, valued at approximately $27,011,850.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by insiders.

General Dynamics Stock Performance

Shares of NYSE:GD opened at $245.75 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 0.91 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $230.76 and a 200-day moving average price of $221.45. The company has a market cap of $67.07 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 2.16 and a beta of 0.77. General Dynamics Co. has a 12 month low of $202.35 and a 12 month high of $256.86.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $0.17. The business had revenue of $10.57 billion during the quarter, compared to analyst estimates of $10.05 billion. General Dynamics had a return on equity of 17.13% and a net margin of 7.97%. General Dynamics’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.26 EPS. As a group, equities analysts anticipate that General Dynamics Co. will post 12.58 EPS for the current year.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.