Principal Financial Group Inc. lowered its stake in shares of General Dynamics Corporation (NYSE:GD) by 4.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 411,521 shares of the aerospace company’s stock after selling 18,098 shares during the quarter. Principal Financial Group Inc. owned approximately 0.14% of General Dynamics Corporation worth $84,600,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Teachers Advisors LLC lifted its stake in General Dynamics Corporation by 92.8% during the first quarter. Teachers Advisors LLC now owns 578,526 shares of the aerospace company’s stock worth $108,300,000 after purchasing an additional 278,394 shares during the last quarter. Boston Advisors LLC lifted its stake in General Dynamics Corporation by 13.4% during the second quarter. Boston Advisors LLC now owns 6,760 shares of the aerospace company’s stock worth $1,339,000 after purchasing an additional 800 shares during the last quarter. Morgan Stanley lifted its stake in General Dynamics Corporation by 12.2% during the first quarter. Morgan Stanley now owns 1,139,288 shares of the aerospace company’s stock worth $213,274,000 after purchasing an additional 124,077 shares during the last quarter. Global X Management Co. LLC lifted its stake in General Dynamics Corporation by 17.4% during the second quarter. Global X Management Co. LLC now owns 891 shares of the aerospace company’s stock worth $177,000 after purchasing an additional 132 shares during the last quarter. Finally, LMR Partners LLP bought a new position in General Dynamics Corporation during the second quarter worth $4,077,000. 85.79% of the stock is owned by institutional investors and hedge funds.

General Dynamics Corporation (NYSE GD) opened at $199.77 on Monday. The company has a market capitalization of $59,647.91, a price-to-earnings ratio of 19.84, a PEG ratio of 2.39 and a beta of 0.73. The company has a current ratio of 1.37, a quick ratio of 0.93 and a debt-to-equity ratio of 0.34. General Dynamics Corporation has a fifty-two week low of $164.09 and a fifty-two week high of $214.81.

General Dynamics Corporation (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The company had revenue of $7.58 billion for the quarter, compared to analyst estimates of $7.94 billion. General Dynamics Corporation had a return on equity of 27.98% and a net margin of 9.94%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the company earned $2.36 earnings per share. sell-side analysts predict that General Dynamics Corporation will post 9.81 EPS for the current fiscal year.

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A number of research firms have issued reports on GD. Stifel Nicolaus raised their target price on General Dynamics Corporation from $200.00 to $210.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Zacks Investment Research cut General Dynamics Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Deutsche Bank AG reiterated a “hold” rating and issued a $210.00 target price (up from $200.00) on shares of General Dynamics Corporation in a research note on Monday, October 2nd. ValuEngine upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BidaskClub upgraded General Dynamics Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. General Dynamics Corporation has a consensus rating of “Hold” and an average target price of $217.19.

In related news, insider John Patrick Casey sold 34,945 shares of General Dynamics Corporation stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total transaction of $7,037,224.10. Following the transaction, the insider now directly owns 144,378 shares of the company’s stock, valued at $29,074,841.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Gregory S. Gallopoulos sold 78,370 shares of General Dynamics Corporation stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $202.93, for a total value of $15,903,624.10. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.

General Dynamics Corporation Company Profile

General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.

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

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