Perennial Advisors LLC lifted its stake in General Dynamics Co. (NYSE:GD) by 5.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,018 shares of the aerospace company’s stock after acquiring an additional 526 shares during the period. Perennial Advisors LLC’s holdings in General Dynamics were worth $2,051,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GD. AlphaMark Advisors LLC increased its position in General Dynamics by 6.0% during the 3rd quarter. AlphaMark Advisors LLC now owns 18,225 shares of the aerospace company’s stock valued at $3,731,000 after buying an additional 1,032 shares in the last quarter. Psagot Investment House Ltd. acquired a new position in General Dynamics during the 3rd quarter valued at about $133,000. United Bank increased its position in General Dynamics by 21.2% during the 3rd quarter. United Bank now owns 3,994 shares of the aerospace company’s stock valued at $818,000 after buying an additional 698 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in General Dynamics by 17.7% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 139,496 shares of the aerospace company’s stock valued at $28,558,000 after buying an additional 20,980 shares in the last quarter. Finally, Gulf International Bank UK Ltd increased its position in General Dynamics by 7.7% during the 3rd quarter. Gulf International Bank UK Ltd now owns 21,029 shares of the aerospace company’s stock valued at $4,305,000 after buying an additional 1,500 shares in the last quarter. 85.84% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Mark Malcolm bought 3,000 shares of General Dynamics stock in a transaction on Friday, October 26th. The stock was acquired at an average price of $169.87 per share, with a total value of $509,610.00. Following the completion of the acquisition, the director now directly owns 4,455 shares of the company’s stock, valued at $756,770.85. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Patrick Casey sold 22,500 shares of the stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $193.28, for a total value of $4,348,800.00. Following the transaction, the insider now directly owns 118,555 shares of the company’s stock, valued at approximately $22,914,310.40. The disclosure for this sale can be found here. 6.90% of the stock is owned by corporate insiders.
Several brokerages recently issued reports on GD. Drexel Hamilton reaffirmed a “buy” rating and set a $230.00 target price on shares of General Dynamics in a research report on Thursday, August 16th. Citigroup reduced their target price on General Dynamics from $210.00 to $195.00 and set a “neutral” rating on the stock in a research report on Thursday, October 25th. UBS Group started coverage on General Dynamics in a research note on Wednesday, August 15th. They set a “neutral” rating and a $210.00 price target on the stock. ValuEngine upgraded General Dynamics from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Finally, Credit Suisse Group boosted their price target on General Dynamics from $224.00 to $229.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $231.00.
NYSE GD traded up $0.54 during trading hours on Wednesday, reaching $182.74. The company’s stock had a trading volume of 397,727 shares, compared to its average volume of 1,964,338. The stock has a market capitalization of $52.41 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.41 and a beta of 0.98. General Dynamics Co. has a 1-year low of $164.76 and a 1-year high of $230.00. The company has a current ratio of 1.27, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.13. The company had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $9.41 billion. General Dynamics had a return on equity of 27.22% and a net margin of 9.01%. General Dynamics’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.52 EPS. Equities analysts predict that General Dynamics Co. will post 11.3 EPS for the current fiscal year.
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General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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