General Dynamics Co. (NYSE:GD) Shares Purchased by Gofen & Glossberg LLC IL

Gofen & Glossberg LLC IL increased its holdings in shares of General Dynamics Co. (NYSE:GD) by 6.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,890 shares of the aerospace company’s stock after acquiring an additional 233 shares during the period. Gofen & Glossberg LLC IL’s holdings in General Dynamics were worth $763,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GD. Royal Bank of Canada grew its holdings in General Dynamics by 5.2% in the second quarter. Royal Bank of Canada now owns 2,525,871 shares of the aerospace company’s stock valued at $475,520,000 after purchasing an additional 125,274 shares during the last quarter. Bank of Montreal Can grew its holdings in General Dynamics by 12.2% in the second quarter. Bank of Montreal Can now owns 1,944,531 shares of the aerospace company’s stock valued at $367,185,000 after purchasing an additional 211,992 shares during the last quarter. Prospera Financial Services Inc grew its holdings in General Dynamics by 8,915.9% in the second quarter. Prospera Financial Services Inc now owns 1,894,060 shares of the aerospace company’s stock valued at $2,169,000 after purchasing an additional 1,873,052 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in General Dynamics by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,420,179 shares of the aerospace company’s stock valued at $267,363,000 after purchasing an additional 9,271 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in General Dynamics by 3.1% in the second quarter. Legal & General Group Plc now owns 1,298,882 shares of the aerospace company’s stock valued at $244,525,000 after purchasing an additional 39,571 shares during the last quarter. 85.08% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:GD opened at $198.74 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $200.79 and its two-hundred day moving average is $196.01. General Dynamics Co. has a 52 week low of $144.50 and a 52 week high of $210.21. The company has a market cap of $55.49 billion, a PE ratio of 17.06, a P/E/G ratio of 1.88 and a beta of 1.11.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, October 27th. The aerospace company reported $3.07 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.10. General Dynamics had a return on equity of 21.32% and a net margin of 8.55%. The company had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.86 billion. During the same quarter last year, the business posted $2.90 EPS. General Dynamics’s quarterly revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts expect that General Dynamics Co. will post 11.53 EPS for the current fiscal year.

Several research firms recently weighed in on GD. Cowen reiterated a “buy” rating on shares of General Dynamics in a research report on Monday, August 9th. Credit Suisse Group raised their price objective on General Dynamics from $182.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, July 29th. The Goldman Sachs Group upgraded General Dynamics from a “sell” rating to a “neutral” rating and set a $176.00 price objective on the stock in a report on Thursday, September 23rd. Susquehanna raised their price objective on General Dynamics from $225.00 to $240.00 and gave the stock a “positive” rating in a report on Thursday, October 28th. Finally, Wells Fargo & Company upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $220.00 to $230.00 in a research note on Thursday, October 28th. Two analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, General Dynamics has a consensus rating of “Buy” and an average target price of $213.91.

About General Dynamics

General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, and Marine Systems.

See Also: Why is the Consumer Price Index (CPI) important?

Want to see what other hedge funds are holding GD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Dynamics Co. (NYSE:GD).

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

Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.