Fmr LLC Acquires 24,464 Shares of General Dynamics Co. (NYSE:GD)

Fmr LLC grew its holdings in General Dynamics Co. (NYSE:GD) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,940,537 shares of the aerospace company’s stock after purchasing an additional 24,464 shares during the period. Fmr LLC owned approximately 1.80% of General Dynamics worth $1,493,030,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Silvercrest Asset Management Group LLC lifted its stake in shares of General Dynamics by 10.0% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 7,466 shares of the aerospace company’s stock valued at $2,109,000 after purchasing an additional 679 shares during the period. Waverly Advisors LLC lifted its stake in shares of General Dynamics by 6.8% in the 1st quarter. Waverly Advisors LLC now owns 3,606 shares of the aerospace company’s stock valued at $1,019,000 after purchasing an additional 231 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of General Dynamics by 15.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 8,443 shares of the aerospace company’s stock valued at $2,385,000 after purchasing an additional 1,140 shares during the period. Tidal Investments LLC lifted its stake in shares of General Dynamics by 7.8% in the 1st quarter. Tidal Investments LLC now owns 4,704 shares of the aerospace company’s stock valued at $1,329,000 after purchasing an additional 340 shares during the period. Finally, Beacon Capital Management LLC lifted its stake in shares of General Dynamics by 1,144.4% in the 1st quarter. Beacon Capital Management LLC now owns 112 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 103 shares during the period. Institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

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 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 trade represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction that occurred on 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 transaction, the vice president now owns 20,296 shares of the company’s stock, valued at $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GD shares. Sanford C. Bernstein dropped their price objective 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. Citigroup upped their price target on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Barclays upped their price target on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. TD Cowen raised General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Royal Bank of Canada upped their price target on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Seven 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $323.69.

General Dynamics Stock Performance

General Dynamics stock opened at $282.01 on Wednesday. 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 50-day moving average of $299.47 and a 200-day moving average of $295.82. The firm has a market cap of $77.54 billion, a P/E ratio of 21.48, a P/E/G ratio of 1.70 and a beta of 0.61. General Dynamics Co. has a 1-year low of $243.87 and a 1-year high of $316.90.

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

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.