Principal Financial Group Inc. Lowers Position in General Dynamics Co. (NYSE:GD)

Principal Financial Group Inc. lessened its stake in General Dynamics Co. (NYSE:GD) by 2.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 328,548 shares of the aerospace company’s stock after selling 8,648 shares during the quarter. Principal Financial Group Inc.’s holdings in General Dynamics were worth $45,481,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Morgan Stanley raised its stake in General Dynamics by 4.8% during the first quarter. Morgan Stanley now owns 1,118,194 shares of the aerospace company’s stock valued at $147,947,000 after purchasing an additional 51,292 shares in the last quarter. Valeo Financial Advisors LLC increased its position in General Dynamics by 6.3% during the second quarter. Valeo Financial Advisors LLC now owns 5,187 shares of the aerospace company’s stock valued at $775,000 after acquiring an additional 308 shares during the last quarter. Edmp Inc. increased its position in General Dynamics by 62.1% during the second quarter. Edmp Inc. now owns 11,747 shares of the aerospace company’s stock valued at $1,756,000 after acquiring an additional 4,501 shares during the last quarter. Empirical Finance LLC bought a new position in General Dynamics during the second quarter valued at $248,000. Finally, Western Wealth Management LLC bought a new position in General Dynamics during the second quarter valued at $216,000. 84.98% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on GD shares. Morgan Stanley started coverage on shares of General Dynamics in a research report on Tuesday, September 8th. They set an “underweight” rating and a $163.00 price objective on the stock. Argus cut shares of General Dynamics from a “buy” rating to a “hold” rating in a research report on Monday, August 3rd. Credit Suisse Group cut their price objective on shares of General Dynamics from $156.00 to $140.00 and set a “neutral” rating on the stock in a research report on Thursday, October 29th. They noted that the move was a valuation call. Robert W. Baird cut shares of General Dynamics from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $167.00 to $149.00 in a report on Friday, October 2nd. Finally, ValuEngine cut shares of General Dynamics from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $172.38.

In other General Dynamics news, VP William A. Moss sold 4,778 shares of the stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $136.68, for a total transaction of $653,057.04. Following the completion of the sale, the vice president now directly owns 12,241 shares of the company’s stock, valued at $1,673,099.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP William A. Moss sold 4,713 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $138.54, for a total transaction of $652,939.02. Following the sale, the vice president now directly owns 12,753 shares of the company’s stock, valued at $1,766,800.62. The disclosure for this sale can be found here. Corporate insiders own 6.60% of the company’s stock.

Shares of General Dynamics stock opened at $152.93 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.29 and a quick ratio of 0.90. General Dynamics Co. has a 1 year low of $100.55 and a 1 year high of $190.08. The firm’s 50-day moving average is $140.93 and its two-hundred day moving average is $145.09. The stock has a market cap of $43.89 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 2.28 and a beta of 1.02.

General Dynamics (NYSE:GD) last issued its earnings results on Wednesday, October 28th. The aerospace company reported $2.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.85 by $0.05. General Dynamics had a net margin of 8.33% and a return on equity of 23.00%. On average, equities analysts expect that General Dynamics Co. will post 11.05 earnings per share for the current year.

General Dynamics Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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

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