Camden National Bank Takes Position in General Dynamics Co. (NYSE:GD)

Camden National Bank purchased a new position in General Dynamics Co. (NYSE:GD) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,244 shares of the aerospace company’s stock, valued at approximately $376,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nwam LLC acquired a new position in shares of General Dynamics in the 3rd quarter worth approximately $467,000. Meridian Wealth Management LLC bought a new stake in General Dynamics during the third quarter valued at $1,228,000. Icon Wealth Advisors LLC raised its holdings in shares of General Dynamics by 316.1% during the third quarter. Icon Wealth Advisors LLC now owns 13,142 shares of the aerospace company’s stock worth $3,972,000 after purchasing an additional 9,984 shares during the period. Allen Capital Group LLC lifted its position in shares of General Dynamics by 14.7% in the 3rd quarter. Allen Capital Group LLC now owns 1,589 shares of the aerospace company’s stock worth $480,000 after buying an additional 204 shares during the last quarter. Finally, Raymond James Trust N.A. boosted its holdings in shares of General Dynamics by 2.2% in the 3rd quarter. Raymond James Trust N.A. now owns 22,293 shares of the aerospace company’s stock valued at $6,737,000 after buying an additional 473 shares during the period. 86.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GD has been the topic of several research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Citigroup raised their price target on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Wells Fargo & Company raised their target price on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein lowered their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $323.69.

General Dynamics Stock Performance

GD opened at $281.81 on Friday. The business has a 50 day moving average price of $300.44 and a two-hundred day moving average price of $295.98. 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 company has a market capitalization of $77.49 billion, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 1.69 and a beta of 0.61. General Dynamics Co. has a 1-year low of $243.87 and a 1-year high of $316.90.

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

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction 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 sale, the director now owns 3,592 shares in the company, valued at approximately $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 accessible through this hyperlink. 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.