General Dynamics Co. (NYSE:GD) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC grew its stake in shares of General Dynamics Co. (NYSE:GD) by 3.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 8,406 shares of the aerospace company’s stock after acquiring an additional 292 shares during the period. Empowered Funds LLC’s holdings in General Dynamics were worth $2,540,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its position in shares of 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 valued at $2,216,599,000 after acquiring an additional 293,316 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of General Dynamics by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock valued at $1,351,041,000 after acquiring an additional 115,063 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of General Dynamics by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock valued at $601,756,000 after acquiring an additional 47,915 shares during the last quarter. Boston Partners lifted its position in shares of General Dynamics by 1.4% during the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after acquiring an additional 23,262 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of General Dynamics by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock valued at $466,049,000 after purchasing an additional 23,304 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Price Performance

NYSE GD opened at $280.98 on Wednesday. General Dynamics Co. has a fifty-two week low of $243.87 and a fifty-two week high of $316.90. The stock’s 50-day moving average is $301.71 and its two-hundred day moving average is $296.28. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The firm has a market cap of $77.26 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 1.74 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter last year, the business earned $3.04 earnings per share. General Dynamics’s quarterly revenue was up 10.4% on a year-over-year basis. On average, analysts anticipate that General Dynamics Co. will post 13.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on GD. Barclays increased their target price on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft reduced 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 reduced their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Citigroup increased their target price on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company increased their target price on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Seven investment 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’s stock. According to data from MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.69.

Insider Buying and Selling at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total value 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. The trade was a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.60% 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.