Victory Capital Management Inc. Purchases 37,688 Shares of General Dynamics Co. (NYSE:GD)

Victory Capital Management Inc. lifted its holdings in General Dynamics Co. (NYSE:GD) by 10.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 382,449 shares of the aerospace company’s stock after purchasing an additional 37,688 shares during the period. Victory Capital Management Inc.’s holdings in General Dynamics were worth $115,576,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in GD. Entropy Technologies LP raised its position in shares of General Dynamics by 325.8% during the first quarter. Entropy Technologies LP now owns 5,782 shares of the aerospace company’s stock valued at $1,633,000 after buying an additional 4,424 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of General Dynamics in the 1st quarter worth approximately $361,000. Koshinski Asset Management Inc. grew its holdings in shares of General Dynamics by 133.9% during the 1st quarter. Koshinski Asset Management Inc. now owns 3,336 shares of the aerospace company’s stock worth $942,000 after purchasing an additional 1,910 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of General Dynamics by 7.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 262,920 shares of the aerospace company’s stock valued at $74,272,000 after purchasing an additional 17,743 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of General Dynamics by 14.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 294,751 shares of the aerospace company’s stock valued at $83,264,000 after purchasing an additional 36,541 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Performance

GD stock opened at $312.12 on Wednesday. General Dynamics Co. has a 1-year low of $243.52 and a 1-year high of $315.93. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The firm has a market cap of $85.82 billion, a PE ratio of 23.77, a P/E/G ratio of 1.90 and a beta of 0.61. The business’s 50-day moving average price is $301.91 and its two-hundred day moving average price is $295.91.

General Dynamics (NYSE:GD) last issued its quarterly earnings data 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 quarter in the prior year, the firm posted $3.04 earnings per share. General Dynamics’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, research analysts forecast that General Dynamics Co. will post 13.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GD. Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Royal Bank of Canada lifted their price objective on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Sanford C. Bernstein dropped their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Finally, Citigroup boosted their price target on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $323.69.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

General Dynamics 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.