CI Investments Inc. Sells 7,117 Shares of General Dynamics Corporation (GD)

CI Investments Inc. trimmed its position in shares of General Dynamics Corporation (NYSE:GD) by 3.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,305 shares of the aerospace company’s stock after selling 7,117 shares during the quarter. CI Investments Inc. owned approximately 0.07% of General Dynamics Corporation worth $43,646,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GD. Crescent Grove Advisors LLC purchased a new stake in General Dynamics Corporation in the 3rd quarter worth $206,000. Intrust Bank NA increased its holdings in General Dynamics Corporation by 7.2% in the 3rd quarter. Intrust Bank NA now owns 4,835 shares of the aerospace company’s stock worth $994,000 after acquiring an additional 326 shares in the last quarter. YHB Investment Advisors Inc. increased its holdings in General Dynamics Corporation by 82.9% in the 3rd quarter. YHB Investment Advisors Inc. now owns 6,273 shares of the aerospace company’s stock worth $1,290,000 after acquiring an additional 2,844 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its holdings in General Dynamics Corporation by 33.4% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 24,946 shares of the aerospace company’s stock worth $5,131,000 after acquiring an additional 6,240 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. increased its holdings in General Dynamics Corporation by 76.5% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 27,524 shares of the aerospace company’s stock worth $5,636,000 after acquiring an additional 11,934 shares in the last quarter. 85.79% of the stock is owned by hedge funds and other institutional investors.

Shares of General Dynamics Corporation (GD) traded up $0.36 during trading hours on Tuesday, reaching $200.13. 912,100 shares of the company’s stock were exchanged, compared to its average volume of 1,153,220. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.93. The stock 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. General Dynamics Corporation has a one year low of $164.97 and a one year 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 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 net margin of 9.94% and a return on equity of 27.98%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.36 earnings per share. equities analysts forecast that General Dynamics Corporation will post 9.81 earnings per share for the current fiscal year.

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

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GD has been the topic of several recent research reports. Credit Suisse Group reaffirmed an “outperform” rating and set a $238.00 target price (up previously from $216.00) on shares of General Dynamics Corporation in a research note on Thursday, October 26th. ValuEngine raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Cowen and Company reaffirmed a “buy” rating and set a $210.00 target price on shares of General Dynamics Corporation in a research note on Monday, July 17th. BidaskClub raised shares of General Dynamics Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research cut shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $217.19.

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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