General Dynamics Co. (NYSE:GD) Shares Purchased by Lummis Asset Management LP

Lummis Asset Management LP lifted its position in General Dynamics Co. (NYSE:GD - Free Report) by 32.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,368 shares of the aerospace company's stock after buying an additional 2,551 shares during the period. General Dynamics makes up about 3.7% of Lummis Asset Management LP's portfolio, making the stock its 7th largest position. Lummis Asset Management LP's holdings in General Dynamics were worth $3,133,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GD. International Assets Investment Management LLC raised its stake in shares of General Dynamics by 40,389.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company's stock valued at $416,876,000 after buying an additional 1,376,065 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in shares of General Dynamics by 2,189.3% in the second quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company's stock worth $108,572,000 after acquiring an additional 357,861 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in General Dynamics by 879.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company's stock valued at $96,148,000 after purchasing an additional 305,624 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in General Dynamics by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company's stock worth $2,216,599,000 after purchasing an additional 293,316 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of General Dynamics by 24.2% in the second quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company's stock worth $391,119,000 after buying an additional 262,164 shares in the last quarter. Institutional investors own 86.14% of the company's stock.

General Dynamics Trading Down 6.9 %

GD traded down $21.61 on Thursday, reaching $292.42. 1,878,100 shares of the company's stock were exchanged, compared to its average volume of 1,096,797. The company's 50 day moving average is $302.64 and its 200-day moving average is $296.23. General Dynamics Co. has a twelve month low of $243.87 and a twelve month high of $316.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The company has a market cap of $80.41 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 1.89 and a beta of 0.61.

General Dynamics (NYSE:GD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 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 analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The business's quarterly revenue 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 analysts predict that General Dynamics Co. will post 13.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GD has been the subject of a number of analyst reports. Susquehanna upped their price target on General Dynamics from $333.00 to $352.00 and gave the company a "positive" rating in a research report on Thursday, October 17th. Sanford C. Bernstein reduced their price target on General Dynamics from $343.00 to $331.00 and set a "market perform" rating on the stock in a report on Thursday, October 24th. Seaport Res Ptn lowered shares of General Dynamics from a "strong-buy" rating to a "hold" rating in a report on Friday, October 11th. Citigroup increased their price target on shares of General Dynamics from $331.00 to $354.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Finally, TD Cowen upgraded General Dynamics to a "strong-buy" rating in a report on Tuesday, October 8th. 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. Based on data from MarketBeat, General Dynamics presently has a consensus rating of "Moderate Buy" and a consensus target price of $323.69.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction on 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.52% of the stock is owned by corporate insiders.

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.