Algert Global LLC Takes Position in General Dynamics Co. (NYSE:GD)

Algert Global LLC purchased a new position in shares of General Dynamics Co. (NYSE:GD) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,715 shares of the aerospace company’s stock, valued at approximately $4,145,000.

Other large investors have also bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of General Dynamics by 40,389.3% during 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 acquiring an additional 1,376,065 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in General Dynamics by 2,189.3% in the second quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock valued at $108,572,000 after purchasing an additional 357,861 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in General Dynamics by 4.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after buying an additional 293,316 shares during the period. Hsbc Holdings PLC boosted 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 during the last quarter. Finally, Westwood Holdings Group Inc. grew its position in shares of 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 buying an additional 244,373 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of the company’s 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.52% of the stock is currently owned by company insiders.

General Dynamics Stock Up 0.7 %

Shares of NYSE GD opened at $281.81 on Monday. 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 firm has a market cap of $77.49 billion, a PE ratio of 21.46, a P/E/G ratio of 1.69 and a beta of 0.61. The company’s fifty day simple moving average is $300.44 and its 200 day simple moving average is $296.02. General Dynamics Co. has a 12-month low of $243.87 and a 12-month high of $316.90.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GD shares. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company boosted their price target on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Sanford C. Bernstein decreased their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and a consensus price target of $323.69.

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.