Russell Investments Group Ltd. raised its holdings in shares of General Dynamics Co. (NYSE:GD – Free Report) by 16.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 389,800 shares of the aerospace company’s stock after acquiring an additional 55,069 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.14% of General Dynamics worth $83,863,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. Jupiter Asset Management Ltd. lifted its holdings in General Dynamics by 76.7% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 295,615 shares of the aerospace company’s stock valued at $63,587,000 after purchasing an additional 128,343 shares in the last quarter. Moors & Cabot Inc. boosted its holdings in shares of General Dynamics by 2.4% in the 2nd quarter. Moors & Cabot Inc. now owns 2,584 shares of the aerospace company’s stock valued at $556,000 after purchasing an additional 61 shares during the last quarter. Nwam LLC grew its stake in shares of General Dynamics by 24.6% during the 2nd quarter. Nwam LLC now owns 1,418 shares of the aerospace company’s stock valued at $305,000 after buying an additional 280 shares during the period. Cetera Advisors LLC raised its position in shares of General Dynamics by 1.3% in the 2nd quarter. Cetera Advisors LLC now owns 7,384 shares of the aerospace company’s stock worth $1,589,000 after buying an additional 96 shares during the period. Finally, Meitav Investment House Ltd. acquired a new position in General Dynamics in the second quarter valued at $61,000. Institutional investors and hedge funds own 86.08% of the company’s stock.
Analyst Ratings Changes
GD has been the subject of several research analyst reports. StockNews.com started coverage on General Dynamics in a research note on Thursday, October 5th. They set a “buy” rating for the company. Berenberg Bank raised their price target on shares of General Dynamics from $254.00 to $258.00 and gave the company a “market perform” rating in a report on Tuesday, September 26th. Morgan Stanley lifted their price target on shares of General Dynamics from $248.00 to $250.00 in a research report on Thursday, July 27th. UBS Group started coverage on shares of General Dynamics in a research report on Tuesday, October 10th. They issued a “neutral” rating and a $265.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of General Dynamics in a report on Wednesday, September 27th. They set a “buy” rating and a $271.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and an average price target of $263.43.
General Dynamics Stock Down 0.2 %
Shares of General Dynamics stock opened at $245.34 on Friday. General Dynamics Co. has a 1-year low of $202.35 and a 1-year high of $256.86. The business has a 50-day moving average of $232.34 and a 200-day moving average of $221.99. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.43 and a quick ratio of 0.91. The company has a market capitalization of $66.95 billion, a PE ratio of 20.51, a P/E/G ratio of 2.18 and a beta of 0.77.
General Dynamics (NYSE:GD – Get Free Report) last announced its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.17. The company had revenue of $10.57 billion during the quarter, compared to analyst estimates of $10.05 billion. General Dynamics had a net margin of 7.97% and a return on equity of 17.13%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the business earned $3.26 EPS. As a group, equities analysts forecast that General Dynamics Co. will post 12.59 EPS for the current fiscal year.
Insider Activity at General Dynamics
In related news, VP Gregory S. Gallopoulos sold 33,200 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $238.37, for a total value of $7,913,884.00. Following the sale, the vice president now owns 113,319 shares of the company’s stock, valued at approximately $27,011,850.03. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.52% 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.
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