Daiwa Securities Group Inc. Acquires 4,353 Shares of General Dynamics Co. (NYSE:GD)

Daiwa Securities Group Inc. boosted its holdings in shares of General Dynamics Co. (NYSE:GD) by 17.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,557 shares of the aerospace company’s stock after purchasing an additional 4,353 shares during the quarter. Daiwa Securities Group Inc.’s holdings in General Dynamics were worth $8,932,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GD. MFA Wealth Advisors LLC increased its holdings in shares of General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 58 shares during the period. Hara Capital LLC bought a new position in General Dynamics during the third quarter valued at about $26,000. New Covenant Trust Company N.A. acquired a new position in General Dynamics in the 1st quarter valued at approximately $29,000. American Capital Advisory LLC bought a new stake in shares of General Dynamics in the 2nd quarter worth approximately $29,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in shares of General Dynamics during the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on GD. Barclays raised their target price on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft decreased their target price 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. Wells Fargo & Company increased their price target on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Royal Bank of Canada lifted their price objective on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Citigroup raised their target price on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $323.69.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by corporate insiders.

General Dynamics Stock Down 0.2 %

Shares of NYSE:GD opened at $281.30 on Tuesday. General Dynamics Co. has a 12 month low of $243.87 and a 12 month high of $316.90. The firm has a market cap of $77.35 billion, a P/E ratio of 21.42, a P/E/G ratio of 1.70 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $299.91 and its two-hundred day moving average price is $295.92.

General Dynamics (NYSE:GD) last issued its quarterly earnings results 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 company had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same period in the prior year, the business earned $3.04 EPS. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, research analysts forecast that General Dynamics Co. will post 13.98 EPS for the current fiscal year.

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.