Pacer Advisors Inc. Acquires 8,612 Shares of General Dynamics Co. (NYSE:GD)

Pacer Advisors Inc. raised its holdings in shares of General Dynamics Co. (NYSE:GD) by 35.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 32,674 shares of the aerospace company’s stock after purchasing an additional 8,612 shares during the quarter. Pacer Advisors Inc.’s holdings in General Dynamics were worth $9,874,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. MFA Wealth Advisors LLC raised its holdings in General Dynamics by 241.7% in the third 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 acquired a new stake in General Dynamics during the 3rd quarter worth $26,000. American Capital Advisory LLC bought a new position in General Dynamics during the second quarter worth about $29,000. Lowe Wealth Advisors LLC acquired a new position in General Dynamics in the third quarter valued at about $30,000. Finally, New Covenant Trust Company N.A. bought a new stake in shares of General Dynamics in the first quarter worth about $29,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Performance

Shares of GD stock opened at $281.81 on Friday. The stock has a market cap of $77.49 billion, a P/E ratio of 21.46, a P/E/G ratio of 1.69 and a beta of 0.61. The company has a fifty day moving average price of $300.44 and a two-hundred day moving average price of $296.00. General Dynamics Co. has a one year low of $243.87 and a one year high of $316.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Barclays upped their price target on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Citigroup boosted their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada increased their target price on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.69.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction 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 transaction, 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 document filed with the SEC, which is available through this hyperlink. 1.52% of the stock is owned by insiders.

General Dynamics Company 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.