Massachusetts Financial Services Co. MA Has $2.37 Billion Holdings in General Dynamics Co. (NYSE:GD)

Massachusetts Financial Services Co. MA increased its stake in General Dynamics Co. (NYSE:GD) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,829,662 shares of the aerospace company’s stock after acquiring an additional 189,904 shares during the quarter. General Dynamics accounts for approximately 0.7% of Massachusetts Financial Services Co. MA’s portfolio, making the stock its 26th largest position. Massachusetts Financial Services Co. MA owned approximately 2.85% of General Dynamics worth $2,366,124,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. International Assets Investment Management LLC grew its position in General Dynamics by 40,389.3% in 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 purchasing an additional 1,376,065 shares during the period. 1832 Asset Management L.P. lifted its position in General Dynamics by 2,189.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock valued at $108,572,000 after acquiring an additional 357,861 shares in the last quarter. Public Employees Retirement Association of Colorado increased its holdings in General Dynamics by 879.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock worth $96,148,000 after purchasing an additional 305,624 shares in the last quarter. Hsbc Holdings PLC grew its holdings in General Dynamics by 24.2% during 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. Finally, Westwood Holdings Group Inc. boosted its holdings in General Dynamics by 174.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 384,151 shares of the aerospace company’s stock worth $111,458,000 after acquiring an additional 244,373 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GD shares. Barclays raised their price target on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Wells Fargo & Company boosted their price objective 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. TD Cowen raised General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Seven 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $323.69.

General Dynamics Stock Performance

Shares of GD opened at $279.98 on Thursday. 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 stock has a market capitalization of $76.99 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 1.70 and a beta of 0.61. General Dynamics Co. has a 52-week low of $243.87 and a 52-week high of $316.90. The stock’s 50-day simple moving average is $301.32 and its 200 day simple moving average is $296.16.

General Dynamics (NYSE:GD) last announced its quarterly earnings results 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 firm had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.04 earnings per share. Research analysts forecast that General Dynamics Co. will post 13.98 EPS for the current fiscal year.

Insider Buying and Selling at General Dynamics

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 value of $406,626.00. Following the transaction, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.52% of the company’s stock.

General Dynamics 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.