HL Financial Services LLC grew its stake in shares of General Dynamics Co. (NYSE:GD) by 5.1% during the third quarter, HoldingsChannel reports. The firm owned 7,785 shares of the aerospace company’s stock after buying an additional 379 shares during the period. HL Financial Services LLC’s holdings in General Dynamics were worth $1,594,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. CSat Investment Advisory L.P. acquired a new position in shares of General Dynamics in the second quarter worth about $101,000. CX Institutional acquired a new position in shares of General Dynamics in the second quarter worth about $107,000. Zions Bancorporation acquired a new position in shares of General Dynamics in the third quarter worth about $109,000. James Investment Research Inc. acquired a new position in shares of General Dynamics in the second quarter worth about $112,000. Finally, BerganKDV Wealth Management LLC acquired a new position in shares of General Dynamics in the second quarter worth about $114,000. Institutional investors own 85.84% of the company’s stock.
GD has been the topic of several recent analyst reports. Cowen reiterated a “buy” rating and issued a $253.00 price target on shares of General Dynamics in a research note on Wednesday, October 24th. Argus cut their price target on General Dynamics from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Drexel Hamilton reiterated a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a research note on Thursday, August 16th. Bank of America set a $275.00 price objective on General Dynamics and gave the company a “buy” rating in a report on Tuesday, July 31st. Finally, ValuEngine raised General Dynamics from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $231.00.
In related news, Director Mark Malcolm bought 3,000 shares of the stock in a transaction dated Friday, October 26th. The stock was bought at an average cost of $169.87 per share, with a total value of $509,610.00. Following the completion of the acquisition, the director now owns 4,455 shares of the company’s stock, valued at $756,770.85. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Patrick Casey sold 22,500 shares of the company’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $193.28, for a total value of $4,348,800.00. Following the transaction, the insider now directly owns 118,555 shares of the company’s stock, valued at $22,914,310.40. The disclosure for this sale can be found here. 6.70% of the stock is owned by insiders.
Shares of General Dynamics stock opened at $184.50 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.27 and a quick ratio of 0.87. The stock has a market capitalization of $54.80 billion, a P/E ratio of 18.54, a PEG ratio of 1.47 and a beta of 0.98. General Dynamics Co. has a fifty-two week low of $164.76 and a fifty-two week high of $230.00.
General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 24th. The aerospace company reported $2.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.76 by $0.13. The firm had revenue of $9.09 billion during the quarter, compared to analyst estimates of $9.41 billion. General Dynamics had a return on equity of 27.22% and a net margin of 9.01%. General Dynamics’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.52 earnings per share. Equities research analysts anticipate that General Dynamics Co. will post 11.3 earnings per share for the current fiscal year.
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General Dynamics Company Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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