Sumitomo Mitsui Trust Group Inc. lifted its stake in General Dynamics Co. (NYSE:GD - Free Report) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 588,619 shares of the aerospace company's stock after purchasing an additional 5,069 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of General Dynamics worth $177,881,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. MFA Wealth Advisors LLC raised its position in General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company's stock valued at $25,000 after purchasing an additional 58 shares during the period. Hara Capital LLC acquired a new position in General Dynamics in the third quarter valued at about $26,000. New Covenant Trust Company N.A. purchased a new position in General Dynamics during the first quarter worth about $29,000. American Capital Advisory LLC acquired a new stake in shares of General Dynamics during the second quarter valued at about $29,000. Finally, Lowe Wealth Advisors LLC purchased a new stake in shares of General Dynamics in the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 86.14% of the company's stock.
Insider Buying and Selling
In other news, Director Peter A. Wall sold 1,320 shares of the company'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 completion of the sale, the director now directly owns 3,592 shares of the company's stock, valued at approximately $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 accessible through this link. Corporate insiders own 1.52% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have issued reports on GD. Citigroup boosted their target price on General Dynamics from $331.00 to $354.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. TD Cowen raised General Dynamics to a "strong-buy" rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lowered their target price on General Dynamics from $309.00 to $306.00 and set a "hold" rating for the company in a report on Friday, November 1st. Sanford C. Bernstein lowered their price objective on shares of General Dynamics from $343.00 to $331.00 and set a "market perform" rating for the company in a research note on Thursday, October 24th. Finally, Susquehanna upped their target price on shares of General Dynamics from $333.00 to $352.00 and gave the stock a "positive" rating in a research note on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $323.69.
Check Out Our Latest Analysis on General Dynamics
General Dynamics Stock Performance
NYSE GD traded up $1.92 during trading hours on Wednesday, reaching $313.97. The company's stock had a trading volume of 906,709 shares, compared to its average volume of 1,093,028. The stock has a market cap of $86.33 billion, a PE ratio of 24.08, a PEG ratio of 1.89 and a beta of 0.61. The business has a 50-day simple moving average of $302.25 and a 200 day simple moving average of $296.11. General Dynamics Co. has a 52 week low of $243.87 and a 52 week high of $316.90. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32.
General Dynamics (NYSE:GD - Get Free Report) last released 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 company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.04 EPS. Equities research analysts predict that General Dynamics Co. will post 13.97 earnings per share for the current fiscal year.
About General Dynamics
(
Free Report)
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.
Featured Stories
Before you consider General Dynamics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and General Dynamics wasn't on the list.
While General Dynamics currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
