State of New Jersey Common Pension Fund D Raises Stake in General Dynamics Corporation (GD)

State of New Jersey Common Pension Fund D boosted its holdings in General Dynamics Corporation (NYSE:GD) by 233.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 450,000 shares of the aerospace company’s stock after acquiring an additional 315,000 shares during the period. State of New Jersey Common Pension Fund D owned about 0.15% of General Dynamics Corporation worth $92,511,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. WFG Advisors LP raised its holdings in shares of General Dynamics Corporation by 0.3% during the second quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock valued at $132,000 after buying an additional 2 shares during the last quarter. Zions Bancorporation raised its holdings in shares of General Dynamics Corporation by 0.5% during the first quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock valued at $137,000 after buying an additional 4 shares during the last quarter. Norway Savings Bank raised its holdings in shares of General Dynamics Corporation by 0.5% during the second quarter. Norway Savings Bank now owns 1,015 shares of the aerospace company’s stock valued at $201,000 after buying an additional 5 shares during the last quarter. YorkBridge Wealth Partners LLC raised its holdings in shares of General Dynamics Corporation by 0.5% during the second quarter. YorkBridge Wealth Partners LLC now owns 992 shares of the aerospace company’s stock valued at $198,000 after buying an additional 5 shares during the last quarter. Finally, Guardian Life Insurance Co. of America raised its holdings in shares of General Dynamics Corporation by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,104 shares of the aerospace company’s stock valued at $207,000 after buying an additional 8 shares during the last quarter. 86.32% of the stock is currently owned by hedge funds and other institutional investors.

Shares of General Dynamics Corporation (NYSE:GD) opened at $199.77 on Friday. The firm has a market cap of $59,379.18, a PE ratio of 19.75, a P/E/G ratio of 2.38 and a beta of 0.73. General Dynamics Corporation has a 52 week low of $164.09 and a 52 week high of $214.81. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.37 and a quick ratio of 0.93.

General Dynamics Corporation (NYSE:GD) last released its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $2.52 EPS for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.09. The firm 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 company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.36 earnings per share. equities analysts expect that General Dynamics Corporation will post 9.81 EPS for the current year.

In other 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 transaction, the insider now directly owns 144,378 shares in the company, valued at $29,074,841.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.

GD has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their price target on General Dynamics Corporation from $200.00 to $210.00 and gave the company a “hold” rating in a report on Thursday, October 26th. Zacks Investment Research lowered shares of 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 set a $210.00 price objective (up previously from $200.00) on shares of General Dynamics Corporation in a research note on Monday, October 2nd. ValuEngine upgraded shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, BidaskClub upgraded shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $217.19.

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General Dynamics Corporation 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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