Hartford Funds Management Co LLC Increases Holdings in General Dynamics Co. (NYSE:GD)

Hartford Funds Management Co LLC raised its stake in shares of General Dynamics Co. (NYSE:GD) by 23.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,016 shares of the aerospace company’s stock after buying an additional 386 shares during the period. Hartford Funds Management Co LLC’s holdings in General Dynamics were worth $609,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Acadian Asset Management LLC increased its stake in shares of 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 purchasing an additional 883 shares in the last quarter. Kestra Advisory Services LLC increased its stake 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 purchasing an additional 10,631 shares in the last quarter. Earnest Partners LLC increased its stake in shares of General Dynamics by 31.6% in the 1st quarter. Earnest Partners LLC now owns 226,271 shares of the aerospace company’s stock worth $63,919,000 after purchasing an additional 54,388 shares in the last quarter. Silvercrest Asset Management Group LLC increased 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 worth $2,109,000 after purchasing an additional 679 shares in the last quarter. Finally, Kinloch Capital LLC increased its stake in shares of General Dynamics by 8.4% in the 1st quarter. Kinloch Capital LLC now owns 12,207 shares of the aerospace company’s stock worth $3,448,000 after purchasing an additional 949 shares in the last quarter. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Up 0.7 %

Shares of NYSE GD opened at $281.81 on Friday. The firm’s 50-day moving average price is $300.44 and its 200-day moving average price is $296.00. 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 stock has a market capitalization of $77.49 billion, a price-to-earnings ratio of 21.46, a P/E/G ratio of 1.69 and a beta of 0.61. General Dynamics Co. has a 12-month low of $243.87 and a 12-month high of $316.90.

General Dynamics (NYSE:GD) last announced its earnings results 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). The business had revenue of $11.67 billion for 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 firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.04 earnings per share. On average, equities research analysts anticipate that General Dynamics Co. will post 13.98 EPS for the current fiscal year.

Insider Activity

In related news, 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 value of $406,626.00. Following the sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 26.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GD shares. Citigroup upped their price objective 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 target price on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Sanford C. Bernstein dropped their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Susquehanna upped their target price on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Finally, TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $323.69.

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.