Meeder Advisory Services Inc. Reduces Stake in General Dynamics Co. (NYSE:GD)

Meeder Advisory Services Inc. lessened its stake in shares of General Dynamics Co. (NYSE:GD) by 12.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,430 shares of the aerospace company’s stock after selling 608 shares during the quarter. Meeder Advisory Services Inc.’s holdings in General Dynamics were worth $1,339,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Richard C. Young & CO. LTD. grew its stake in General Dynamics by 2.1% during the third quarter. Richard C. Young & CO. LTD. now owns 38,782 shares of the aerospace company’s stock valued at $11,720,000 after acquiring an additional 799 shares in the last quarter. Swiss National Bank grew its position in shares of General Dynamics by 0.4% during the 3rd quarter. Swiss National Bank now owns 692,146 shares of the aerospace company’s stock valued at $209,167,000 after purchasing an additional 2,600 shares in the last quarter. Claro Advisors LLC increased its holdings in shares of General Dynamics by 5.7% in the third quarter. Claro Advisors LLC now owns 4,799 shares of the aerospace company’s stock worth $1,450,000 after purchasing an additional 260 shares during the period. Mechanics Financial Corp boosted its stake in General Dynamics by 0.6% during the third quarter. Mechanics Financial Corp now owns 8,553 shares of the aerospace company’s stock valued at $2,585,000 after buying an additional 50 shares during the period. Finally, Mutual of America Capital Management LLC grew its position in General Dynamics by 10.7% during the third quarter. Mutual of America Capital Management LLC now owns 31,711 shares of the aerospace company’s stock worth $9,583,000 after buying an additional 3,073 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.52% of the company’s stock.

General Dynamics Stock Performance

General Dynamics stock opened at $286.00 on Tuesday. General Dynamics Co. has a 1-year low of $243.87 and a 1-year high of $316.90. The firm has a market cap of $78.64 billion, a P/E ratio of 21.78, a P/E/G ratio of 1.74 and a beta of 0.61. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average of $302.14 and a 200-day moving average of $296.33.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The business had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. General Dynamics’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm posted $3.04 earnings per share. Sell-side analysts expect that General Dynamics Co. will post 13.98 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on GD shares. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Susquehanna raised their price objective on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Wells Fargo & Company raised their price target on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Finally, Citigroup upped their price objective on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $323.69.

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.