Oppenheimer & Co. Inc. Grows Stake in General Dynamics Co. (NYSE:GD)

Oppenheimer & Co. Inc. increased its stake in shares of General Dynamics Co. (NYSE:GD - Free Report) by 10.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,074 shares of the aerospace company's stock after acquiring an additional 3,363 shares during the period. Oppenheimer & Co. Inc.'s holdings in General Dynamics were worth $11,204,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Olstein Capital Management L.P. grew its holdings in General Dynamics by 36.4% during the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company's stock worth $4,533,000 after acquiring an additional 4,000 shares during the period. CWC Advisors LLC. purchased a new position in General Dynamics during the third quarter worth approximately $771,000. Kingsview Wealth Management LLC boosted its position in General Dynamics by 87.6% during the first quarter. Kingsview Wealth Management LLC now owns 14,690 shares of the aerospace company's stock worth $4,150,000 after purchasing an additional 6,858 shares in the last quarter. Clearbridge Investments LLC purchased a new position in General Dynamics during the first quarter worth approximately $493,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in General Dynamics by 0.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 588,619 shares of the aerospace company's stock worth $177,881,000 after purchasing an additional 5,069 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Trading Down 6.9 %

Shares of NYSE GD traded down $21.61 during trading on Thursday, reaching $292.42. The stock had a trading volume of 1,878,100 shares, compared to its average volume of 1,096,797. General Dynamics Co. has a fifty-two week low of $243.87 and a fifty-two week 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 business's 50-day moving average price is $302.64 and its 200-day moving average price is $296.23. The company has a market cap of $80.41 billion, a P/E 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 earnings per share for the quarter, missing analysts' consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same period in the previous year, the firm posted $3.04 earnings per share. The company's quarterly revenue was up 10.4% compared to the same quarter last year. On average, equities research analysts predict that General Dynamics Co. will post 13.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company's 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 sale, the director now owns 3,592 shares in the company, valued at $1,106,515.60. This represents a 26.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.52% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on GD. Sanford C. Bernstein lowered their price target on General Dynamics from $343.00 to $331.00 and set a "market perform" rating on the stock in a research report on Thursday, October 24th. Seaport Res Ptn downgraded General Dynamics from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 11th. Wells Fargo & Company increased their price target on General Dynamics from $317.00 to $322.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 24th. Citigroup raised 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. Finally, Susquehanna raised their target price on General Dynamics from $333.00 to $352.00 and gave the company a "positive" rating in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average 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.