SevenBridge Financial Group LLC Sells 323 Shares of General Dynamics Co. (NYSE:GD)

SevenBridge Financial Group LLC reduced its stake in shares of General Dynamics Co. (NYSE:GD) by 3.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,950 shares of the aerospace company’s stock after selling 323 shares during the quarter. SevenBridge Financial Group LLC’s holdings in General Dynamics were worth $1,950,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of General Dynamics by 1.5% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,458 shares of the aerospace company’s stock worth $651,000 after acquiring an additional 50 shares in the last quarter. Assetmark Inc. lifted its stake in General Dynamics by 3.5% in the 2nd quarter. Assetmark Inc. now owns 1,475 shares of the aerospace company’s stock valued at $278,000 after buying an additional 50 shares in the last quarter. Greenleaf Trust lifted its stake in General Dynamics by 1.8% in the 2nd quarter. Greenleaf Trust now owns 2,913 shares of the aerospace company’s stock valued at $548,000 after buying an additional 51 shares in the last quarter. Loudon Investment Management LLC lifted its stake in General Dynamics by 1.4% in the 2nd quarter. Loudon Investment Management LLC now owns 3,963 shares of the aerospace company’s stock valued at $746,000 after buying an additional 53 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in General Dynamics by 3.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,395 shares of the aerospace company’s stock valued at $262,000 after buying an additional 53 shares in the last quarter. 85.08% of the stock is currently owned by institutional investors.

NYSE:GD opened at $198.74 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.10 and a current ratio of 1.48. The stock has a market capitalization of $55.49 billion, a P/E ratio of 17.06, a PEG ratio of 1.88 and a beta of 1.11. The company has a 50 day moving average price of $200.79 and a 200 day moving average price of $196.01. General Dynamics Co. has a fifty-two week low of $144.50 and a fifty-two week high of $210.21.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 27th. The aerospace company reported $3.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.97 by $0.10. The firm had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.86 billion. General Dynamics had a net margin of 8.55% and a return on equity of 21.32%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $2.90 EPS. Research analysts forecast that General Dynamics Co. will post 11.53 earnings per share for the current fiscal year.

A number of research firms have commented on GD. The Goldman Sachs Group upgraded shares of General Dynamics from a “sell” rating to a “neutral” rating and set a $176.00 price objective for the company in a report on Thursday, September 23rd. Susquehanna increased their price objective on shares of General Dynamics from $225.00 to $240.00 and gave the company a “positive” rating in a report on Thursday, October 28th. Cowen reiterated a “buy” rating on shares of General Dynamics in a report on Monday, August 9th. Wells Fargo & Company upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $220.00 to $230.00 in a report on Thursday, October 28th. Finally, Susquehanna Bancshares raised their price target on shares of General Dynamics from $225.00 to $240.00 and gave the stock a “positive” rating in a report on Thursday, October 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $213.91.

About General Dynamics

General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, and Marine Systems.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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