Algert Global LLC Takes Position in General Dynamics Co. (NYSE:GD)

Algert Global LLC bought a new position in General Dynamics Co. (NYSE:GD - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 13,715 shares of the aerospace company's stock, valued at approximately $4,145,000.

A number of other institutional investors have also made changes to their positions in GD. Silvercrest Asset Management Group LLC grew its position in General Dynamics by 10.0% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 7,466 shares of the aerospace company's stock worth $2,109,000 after purchasing an additional 679 shares during the last quarter. Waverly Advisors LLC raised its holdings in General Dynamics by 6.8% in the 1st quarter. Waverly Advisors LLC now owns 3,606 shares of the aerospace company's stock valued at $1,019,000 after acquiring an additional 231 shares in the last quarter. Industrial Alliance Investment Management Inc. lifted its position in shares of General Dynamics by 4.4% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,574 shares of the aerospace company's stock worth $445,000 after acquiring an additional 66 shares during the period. Dynasty Wealth Management LLC bought a new stake in shares of General Dynamics in the 1st quarter worth approximately $1,412,000. Finally, Ancora Advisors LLC grew its holdings in shares of General Dynamics by 13.4% during the 1st quarter. Ancora Advisors LLC now owns 134,868 shares of the aerospace company's stock worth $38,099,000 after purchasing an additional 15,904 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Price Performance

NYSE GD traded down $0.51 on Monday, hitting $281.30. 1,569,263 shares of the company were exchanged, compared to its average volume of 1,114,264. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The company has a market cap of $77.35 billion, a P/E ratio of 21.46, a P/E/G ratio of 1.70 and a beta of 0.61. General Dynamics Co. has a 1-year low of $243.87 and a 1-year high of $316.90. The firm has a 50 day moving average of $300.44 and a two-hundred day moving average of $296.02.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same period last year, the company earned $3.04 earnings per share. General Dynamics's revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities analysts predict that General Dynamics Co. will post 13.98 EPS for the current year.

Insider Activity

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares of the company's stock, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

GD has been the subject of several research reports. Morgan Stanley raised General Dynamics from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Barclays raised their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the stock an "overweight" rating in a report on Tuesday, October 29th. Citigroup increased their price target on shares of General Dynamics from $331.00 to $354.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Royal Bank of Canada lifted their price objective on General Dynamics from $320.00 to $330.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Finally, Sanford C. Bernstein dropped their target price on General Dynamics from $343.00 to $331.00 and set a "market perform" rating for the company in a report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, General Dynamics currently has a consensus rating of "Moderate Buy" and an average target price of $323.69.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.