DRW Securities LLC Makes New $656,000 Investment in General Dynamics Co. (NYSE:GD)

DRW Securities LLC acquired a new stake in shares of General Dynamics Co. (NYSE:GD) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,170 shares of the aerospace company’s stock, valued at approximately $656,000.

Other institutional investors have also recently made changes to their positions in the company. Independent Advisor Alliance boosted its stake in General Dynamics by 12.9% in the 3rd quarter. Independent Advisor Alliance now owns 23,373 shares of the aerospace company’s stock worth $7,063,000 after purchasing an additional 2,662 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in shares of General Dynamics by 56.0% during the third quarter. Dynamic Technology Lab Private Ltd now owns 15,494 shares of the aerospace company’s stock worth $4,682,000 after buying an additional 5,559 shares during the period. Daiwa Securities Group Inc. grew its holdings in shares of General Dynamics by 17.3% during the third quarter. Daiwa Securities Group Inc. now owns 29,557 shares of the aerospace company’s stock valued at $8,932,000 after buying an additional 4,353 shares during the last quarter. Hartford Funds Management Co LLC increased its position in shares of General Dynamics by 23.7% in the 3rd quarter. Hartford Funds Management Co LLC now owns 2,016 shares of the aerospace company’s stock valued at $609,000 after acquiring an additional 386 shares during the period. Finally, Summit Trail Advisors LLC raised its stake in General Dynamics by 118.4% in the 3rd quarter. Summit Trail Advisors LLC now owns 2,824 shares of the aerospace company’s stock worth $853,000 after acquiring an additional 1,531 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Trading Up 0.2 %

Shares of NYSE:GD opened at $282.01 on Wednesday. The business’s 50 day moving average price is $299.47 and its 200-day moving average price is $295.82. General Dynamics Co. has a 1 year low of $243.87 and a 1 year high of $316.90. The firm has a market capitalization of $77.54 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 1.70 and a beta of 0.61. 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 announced its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS 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 firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same period in the previous year, the company earned $3.04 EPS. General Dynamics’s revenue was up 10.4% compared to the same quarter last year. On average, equities research analysts forecast that General Dynamics Co. will post 13.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GD. Royal Bank of Canada increased their price objective on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Barclays increased their price target 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. Susquehanna raised 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. Citigroup upped their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Seven research 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $323.69.

Insiders Place Their Bets

In related news, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction that occurred on Friday, November 22nd. The stock was 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 in the company, valued at approximately $5,701,349.36. This trade represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction 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 sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The trade was a 26.87 % 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 corporate insiders.

General Dynamics Company 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.