Chase Investment Counsel Corp Makes New $844,000 Investment in General Dynamics Co. (NYSE:GD)

Chase Investment Counsel Corp purchased a new position in shares of 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 purchased 2,796 shares of the aerospace company's stock, valued at approximately $844,000.

A number of other hedge funds have also added to or reduced their stakes in GD. MFA Wealth Advisors LLC raised its holdings in General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company's stock valued at $25,000 after buying an additional 58 shares during the last quarter. Hara Capital LLC bought a new position in General Dynamics in the 3rd quarter valued at about $26,000. New Covenant Trust Company N.A. acquired a new position in General Dynamics during the 1st quarter valued at about $29,000. American Capital Advisory LLC bought a new stake in General Dynamics during the 2nd quarter worth approximately $29,000. Finally, Lowe Wealth Advisors LLC purchased a new stake in shares of General Dynamics in the third quarter worth approximately $30,000. 86.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on GD. Wells Fargo & Company boosted their target price on General Dynamics from $317.00 to $322.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. Sanford C. Bernstein cut their target price on shares of General Dynamics from $343.00 to $331.00 and set a "market perform" rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada boosted their price target on shares of General Dynamics from $320.00 to $330.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Barclays lifted their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the company an "overweight" rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley upgraded General Dynamics from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Seven 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $323.69.

General Dynamics Price Performance

Shares of NYSE GD traded up $2.56 during mid-day trading on Wednesday, reaching $314.61. 509,667 shares of the company were exchanged, compared to its average volume of 1,091,224. General Dynamics Co. has a 52 week low of $243.87 and a 52 week high of $316.90. The company's 50 day moving average price is $302.25 and its 200 day moving average price is $296.11. The stock has a market capitalization of $86.51 billion, a PE ratio of 24.08, a PEG ratio of 1.89 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.48 by ($0.13). The firm had revenue of $11.67 billion during the quarter, compared to analysts' expectations of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. General Dynamics's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.04 earnings per share. Sell-side analysts forecast that General Dynamics Co. will post 13.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.52% of the stock is currently owned by insiders.

About General Dynamics

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.