General Dynamics Co. (NYSE:GD) Shares Bought by Kovack Advisors Inc.

Kovack Advisors Inc. lifted its position in shares of General Dynamics Co. (NYSE:GD) by 56.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,355 shares of the aerospace company’s stock after buying an additional 849 shares during the quarter. Kovack Advisors Inc.’s holdings in General Dynamics were worth $712,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its position in General Dynamics by 0.5% during the third quarter. Oppenheimer Asset Management Inc. now owns 123,709 shares of the aerospace company’s stock worth $37,385,000 after acquiring an additional 614 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of General Dynamics by 10.0% during the 3rd 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 in the last quarter. Chase Investment Counsel Corp acquired a new position in shares of General Dynamics during the 3rd quarter worth approximately $844,000. Community Bank & Trust Waco Texas lifted its stake in General Dynamics by 9.7% in the 3rd quarter. Community Bank & Trust Waco Texas now owns 21,539 shares of the aerospace company’s stock valued at $6,509,000 after buying an additional 1,901 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in General Dynamics by 10.9% during the 3rd quarter. Victory Capital Management Inc. now owns 382,449 shares of the aerospace company’s stock valued at $115,576,000 after buying an additional 37,688 shares during the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GD has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their target price on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Citigroup raised their target price on shares of 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 assigned a strong buy rating to the company. According to MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and a consensus price target of $323.69.

General Dynamics Stock Performance

General Dynamics stock opened at $313.97 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. General Dynamics Co. has a one year low of $243.87 and a one year high of $316.90. The stock’s 50 day moving average price is $302.25 and its 200 day moving average price is $296.11. The firm has a market capitalization of $86.33 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 1.89 and a beta of 0.61.

General Dynamics (NYSE:GD) last released 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 firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same period in the previous year, the business posted $3.04 earnings per share. General Dynamics’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, sell-side analysts expect that General Dynamics Co. will post 13.97 EPS for the current fiscal year.

Insider Transactions at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate 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.