Charles Schwab Investment Management Inc. Raises Position in General Dynamics Co. (NYSE:GD)

Charles Schwab Investment Management Inc. boosted its holdings in General Dynamics Co. (NYSE:GD) by 8.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,537,149 shares of the aerospace company’s stock after buying an additional 114,461 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.56% of General Dynamics worth $464,526,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its stake in General Dynamics by 59.1% in the 1st quarter. Acadian Asset Management LLC now owns 2,377 shares of the aerospace company’s stock worth $670,000 after buying an additional 883 shares in the last quarter. Clearbridge Investments LLC bought a new position in shares of General Dynamics during the 1st quarter valued at approximately $493,000. Canada Pension Plan Investment Board raised its stake in General Dynamics by 33.8% during the first quarter. Canada Pension Plan Investment Board now owns 199,644 shares of the aerospace company’s stock valued at $56,397,000 after purchasing an additional 50,426 shares in the last quarter. Kestra Advisory Services LLC increased its holdings in shares of General Dynamics by 27.2% in the 1st quarter. Kestra Advisory Services LLC now owns 49,666 shares of the aerospace company’s stock worth $14,030,000 after buying an additional 10,631 shares during the last quarter. Finally, BOKF NA raised its position in shares of General Dynamics by 51.3% during the 1st quarter. BOKF NA now owns 61,625 shares of the aerospace company’s stock valued at $17,967,000 after buying an additional 20,907 shares in the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

Shares of GD stock opened at $279.70 on Friday. The firm’s 50 day moving average price is $300.90 and its 200-day moving average price is $296.05. General Dynamics Co. has a one year low of $243.87 and a one year high of $316.90. The firm has a market cap of $76.91 billion, a P/E ratio of 21.30, a P/E/G ratio of 1.70 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GD shares. Sanford C. Bernstein reduced their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered their price target on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a report on Friday, November 1st. Barclays lifted their price objective on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Royal Bank of Canada lifted their price target on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $323.69.

Insider Buying and Selling

In other news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.52% 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.