Citigroup Inc. Has $36.34 Million Stock Position in General Dynamics Co. (NYSE:GD)

Citigroup Inc. lowered its stake in General Dynamics Co. (NYSE:GD) by 42.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 168,905 shares of the aerospace company’s stock after selling 123,704 shares during the quarter. Citigroup Inc. owned about 0.06% of General Dynamics worth $36,340,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in GD. Certified Advisory Corp bought a new stake in shares of General Dynamics in the 1st quarter valued at $25,000. Guardian Wealth Advisors LLC bought a new position in General Dynamics during the 1st quarter worth about $28,000. NewSquare Capital LLC increased its holdings in General Dynamics by 153.7% during the 2nd quarter. NewSquare Capital LLC now owns 137 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 83 shares in the last quarter. Live Oak Investment Partners bought a new position in General Dynamics during the 4th quarter worth about $30,000. Finally, Resurgent Financial Advisors LLC bought a new position in General Dynamics during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 86.08% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, VP Gregory S. Gallopoulos sold 33,200 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the vice president now directly owns 113,319 shares in the company, valued at $27,011,850.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GD shares. Susquehanna increased their target price on General Dynamics from $270.00 to $285.00 and gave the stock a “positive” rating in a report on Thursday, October 26th. UBS Group initiated coverage on General Dynamics in a report on Tuesday, October 10th. They issued a “neutral” rating and a $265.00 price objective for the company. Bank Of America (Bofa) raised their price objective on General Dynamics from $295.00 to $305.00 and gave the company a “buy” rating in a report on Tuesday, October 24th. Wells Fargo & Company raised their price objective on General Dynamics from $243.00 to $264.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. Finally, Morgan Stanley raised their price objective on General Dynamics from $248.00 to $250.00 in a report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $263.43.

General Dynamics Trading Down 0.2 %

Shares of NYSE:GD opened at $244.69 on Friday. General Dynamics Co. has a 52-week low of $202.35 and a 52-week high of $256.86. The company has a market capitalization of $66.78 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 2.18 and a beta of 0.77. The company has a 50-day simple moving average of $232.88 and a 200 day simple moving average of $222.17. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.91 and a current ratio of 1.43.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $0.17. The firm had revenue of $10.57 billion during the quarter, compared to the consensus estimate of $10.05 billion. General Dynamics had a net margin of 7.97% and a return on equity of 17.13%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the business posted $3.26 earnings per share. Sell-side analysts forecast that General Dynamics Co. will post 12.59 earnings per share for the current year.

About General Dynamics

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.