General Dynamics Co. (NYSE:GD) Stake Boosted by Bank of Montreal Can

Bank of Montreal Can raised its position in General Dynamics Co. (NYSE:GD) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,356,939 shares of the aerospace company’s stock after purchasing an additional 19,213 shares during the quarter. Bank of Montreal Can’s holdings in General Dynamics were worth $407,258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of GD. Massachusetts Financial Services Co. MA lifted its stake in General Dynamics by 2.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock valued at $2,366,124,000 after purchasing an additional 189,904 shares during the last quarter. Ameriprise Financial Inc. grew its stake 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 valued at $601,756,000 after acquiring an additional 47,915 shares in the last quarter. Boston Partners raised its stake in shares of General Dynamics by 1.4% during the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock worth $474,927,000 after purchasing an additional 23,262 shares in the last quarter. Bank of New York Mellon Corp raised its position in General Dynamics by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock valued at $466,049,000 after acquiring an additional 23,304 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of General Dynamics by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,537,149 shares of the aerospace company’s stock valued at $464,526,000 after purchasing an additional 114,461 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GD has been the topic of several research analyst reports. Wells Fargo & Company raised their price target on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Citigroup upped their target price on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $293.00 to $345.00 in a report on Friday, August 9th. Susquehanna raised their target price on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and an average target price of $323.69.

General Dynamics Stock Performance

General Dynamics stock traded up $0.10 during trading hours on Monday, hitting $281.91. The company had a trading volume of 182,601 shares, compared to its average volume of 1,107,990. The firm has a 50-day moving average of $300.44 and a 200 day moving average of $296.02. The firm has a market cap of $77.52 billion, a PE ratio of 21.46, a PEG ratio of 1.70 and a beta of 0.61. General Dynamics Co. has a one year low of $243.87 and a one year 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.

General Dynamics (NYSE:GD) last released 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 net margin of 7.90% and a return on equity of 16.59%. The company had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same quarter in the previous year, the company posted $3.04 earnings per share. The business’s revenue was up 10.4% compared to the same quarter last year. On average, sell-side analysts expect that General Dynamics Co. will post 13.98 earnings per share for the current year.

Insider Activity at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 26.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently 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.