Crestwood Advisors Group LLC Has $1 Million Stock Position in General Dynamics Co. (NYSE:GD)

by · The Markets Daily

Crestwood Advisors Group LLC reduced its holdings in shares of General Dynamics Co. (NYSE:GD – Free Report) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,315 shares of the aerospace company’s stock after selling 187 shares during the quarter. Crestwood Advisors Group LLC’s holdings in General Dynamics were worth $1,002,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Global Wealth Management Investment Advisory Inc. lifted its position in shares of General Dynamics by 2.3% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 13,949 shares of the aerospace company’s stock valued at $4,215,000 after purchasing an additional 317 shares in the last quarter. Amalgamated Bank lifted its position in shares of General Dynamics by 14.1% during the third quarter. Amalgamated Bank now owns 55,265 shares of the aerospace company’s stock valued at $16,701,000 after purchasing an additional 6,839 shares in the last quarter. United Advisor Group LLC bought a new position in shares of General Dynamics during the third quarter valued at about $239,000. Martin Investment Management LLC lifted its position in shares of General Dynamics by 1.7% during the third quarter. Martin Investment Management LLC now owns 27,462 shares of the aerospace company’s stock valued at $8,299,000 after purchasing an additional 460 shares in the last quarter. Finally, Moloney Securities Asset Management LLC raised its position in General Dynamics by 0.7% in the third quarter. Moloney Securities Asset Management LLC now owns 8,744 shares of the aerospace company’s stock worth $2,642,000 after acquiring an additional 61 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Price Performance

Shares of NYSE:GD opened at $296.78 on Wednesday. The company has a 50 day moving average of $301.01 and a 200 day moving average of $295.29. The stock has a market cap of $81.61 billion, a P/E ratio of 22.60, a P/E/G ratio of 1.75 and a beta of 0.61. General Dynamics Co. has a 12 month low of $238.31 and a 12 month high of $313.11. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD – Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). The firm 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 revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.04 EPS. As a group, sell-side analysts forecast that General Dynamics Co. will post 13.97 EPS for the current fiscal year.

Insider Activity at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GD has been the topic of several research reports. Royal Bank of Canada lifted their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Citigroup lifted their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $323.69.

Check Out Our Latest Stock Analysis on General Dynamics

General Dynamics Company Profile

(Free Report)

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.

Recommended Stories