General Dynamics Co. (NYSE:GD) Shares Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. grew its stake in shares of General Dynamics Co. (NYSE:GD) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,293 shares of the aerospace company’s stock after purchasing an additional 473 shares during the quarter. Raymond James Trust N.A.’s holdings in General Dynamics were worth $6,737,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC increased its stake in General Dynamics by 59.1% during 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 during the period. Clearbridge Investments LLC acquired a new position in shares of General Dynamics in the first quarter worth about $493,000. Canada Pension Plan Investment Board boosted its holdings in General Dynamics by 33.8% in 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 during the last quarter. Kestra Advisory Services LLC grew its stake in General Dynamics by 27.2% during the 1st quarter. Kestra Advisory Services LLC now owns 49,666 shares of the aerospace company’s stock valued at $14,030,000 after purchasing an additional 10,631 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in General Dynamics by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock worth $1,351,041,000 after purchasing an additional 115,063 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on GD shares. 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. 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 note on Thursday, October 24th. Barclays boosted their target price on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Susquehanna increased their price target on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $293.00 to $345.00 in a research note 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 company’s stock. According to MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.69.

General Dynamics Trading Up 0.7 %

NYSE:GD opened at $281.81 on Friday. General Dynamics Co. has a 12-month low of $243.87 and a 12-month high of $316.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The business has a 50 day simple moving average of $300.44 and a 200 day simple moving average of $295.98. The firm has a market capitalization of $77.49 billion, a P/E ratio of 21.46, a P/E/G ratio of 1.69 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its quarterly 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). 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 for the quarter, compared to analyst estimates of $11.65 billion. During the same period last year, the firm posted $3.04 EPS. The business’s revenue was up 10.4% compared to the same quarter last year. Equities research analysts predict that General Dynamics Co. will post 13.98 EPS for the current year.

Insiders Place Their Bets

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 transaction of $406,626.00. Following the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.52% of the stock is owned by insiders.

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.