Cadence Bank Acquires 758 Shares of General Dynamics Co. (NYSE:GD)

Cadence Bank grew its stake in General Dynamics Co. (NYSE:GD) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,072 shares of the aerospace company’s stock after purchasing an additional 758 shares during the period. General Dynamics makes up approximately 0.8% of Cadence Bank’s holdings, making the stock its 26th largest holding. Cadence Bank’s holdings in General Dynamics were worth $10,901,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its position in General Dynamics by 2.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock worth $2,366,124,000 after buying an additional 189,904 shares in the last quarter. FMR LLC increased its holdings in shares of General Dynamics by 0.5% in the third quarter. FMR LLC now owns 4,940,537 shares of the aerospace company’s stock valued at $1,493,030,000 after purchasing an additional 24,464 shares in the last quarter. Sanders Capital LLC raised its position in General Dynamics by 1.2% in the 3rd quarter. Sanders Capital LLC now owns 4,178,460 shares of the aerospace company’s stock worth $1,262,731,000 after purchasing an additional 49,397 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in General Dynamics by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock worth $601,756,000 after buying an additional 47,915 shares in the last quarter. Finally, Boston Partners increased its stake in shares of General Dynamics by 1.4% in the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after buying an additional 23,262 shares during the period. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Up 0.2 %

NYSE:GD opened at $282.01 on Wednesday. General Dynamics Co. has a twelve month low of $243.87 and a twelve month high of $316.90. 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 stock’s 50 day moving average price is $299.47 and its two-hundred day moving average price is $295.82. The firm has a market capitalization of $77.54 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 1.70 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same period last year, the business earned $3.04 EPS. The business’s revenue was up 10.4% on a year-over-year basis. Equities research analysts expect that General Dynamics Co. will post 13.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GD shares. Royal Bank of Canada raised 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. Wells Fargo & Company boosted their price target on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Sanford C. Bernstein cut their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Finally, Citigroup increased their target price 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 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 company. According to MarketBeat, General Dynamics presently has an average rating of “Moderate Buy” and an average price target of $323.69.

Insider Activity

In other news, VP Christopher J. Brady sold 5,540 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the sale, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

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.