Massachusetts Financial Services Co. MA Raises Holdings in General Dynamics Co. (NYSE:GD)

Massachusetts Financial Services Co. MA raised its stake in General Dynamics Co. (NYSE:GD - Free Report) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,829,662 shares of the aerospace company's stock after purchasing an additional 189,904 shares during the period. General Dynamics comprises 0.7% of Massachusetts Financial Services Co. MA's investment portfolio, making the stock its 26th biggest position. Massachusetts Financial Services Co. MA owned approximately 2.85% of General Dynamics worth $2,366,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Wealth Advisors LLC boosted its holdings in shares of General Dynamics by 67.6% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company's stock valued at $2,583,000 after buying an additional 3,448 shares in the last quarter. Olstein Capital Management L.P. boosted its stake in General Dynamics by 36.4% in the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company's stock valued at $4,533,000 after acquiring an additional 4,000 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of General Dynamics by 10.0% during the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company's stock worth $11,204,000 after purchasing an additional 3,363 shares during the last quarter. Lummis Asset Management LP increased its position in shares of General Dynamics by 32.6% during the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company's stock worth $3,133,000 after purchasing an additional 2,551 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of General Dynamics by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 588,619 shares of the aerospace company's stock valued at $177,881,000 after purchasing an additional 5,069 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company's stock.

General Dynamics Price Performance

Shares of General Dynamics stock traded down $0.35 on Thursday, hitting $279.70. The company's stock had a trading volume of 1,298,709 shares, compared to its average volume of 1,110,836. 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 Co. has a 52-week low of $243.87 and a 52-week high of $316.90. The firm has a fifty day moving average price of $301.32 and a 200-day moving average price of $296.16. The company has a market capitalization of $76.91 billion, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 1.70 and a beta of 0.61.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The firm had revenue of $11.67 billion for 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%. General Dynamics's revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.04 earnings per share. On average, equities research analysts expect that General Dynamics Co. will post 13.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on GD shares. Barclays lifted their price target on General Dynamics from $325.00 to $330.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 29th. Citigroup upped their price target on shares of General Dynamics from $331.00 to $354.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Dynamics from $309.00 to $306.00 and set a "hold" rating on the stock in a research report on Friday, November 1st. Royal Bank of Canada boosted their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein lowered their target price on shares of General Dynamics from $343.00 to $331.00 and set a "market perform" rating on the stock in a report on Thursday, October 24th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $323.69.

Insider Activity at General Dynamics

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 transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.52% of the company's stock.

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.