General Dynamics Co. (NYSE:GD) Holdings Increased by Cadence Bank

Cadence Bank boosted its position in General Dynamics Co. (NYSE:GD) by 2.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,072 shares of the aerospace company’s stock after purchasing an additional 758 shares during the period. General Dynamics makes up about 0.8% of Cadence Bank’s portfolio, making the stock its 26th largest holding. Cadence Bank’s holdings in General Dynamics were worth $10,901,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. International Assets Investment Management LLC lifted its position in shares of General Dynamics by 40,389.3% during the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock valued at $416,876,000 after acquiring an additional 1,376,065 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in General Dynamics by 2,189.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock worth $108,572,000 after purchasing an additional 357,861 shares during the period. Massachusetts Financial Services Co. MA grew its position in General Dynamics by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after purchasing an additional 293,316 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of General Dynamics by 24.2% in the second quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock worth $391,119,000 after buying an additional 262,164 shares during the period. Finally, Westwood Holdings Group Inc. grew its holdings in shares of General Dynamics by 174.8% during the second quarter. Westwood Holdings Group Inc. now owns 384,151 shares of the aerospace company’s stock valued at $111,458,000 after buying an additional 244,373 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GD has been the topic of a number of research reports. Sanford C. Bernstein dropped their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $293.00 to $345.00 in a report on Friday, August 9th. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Wells Fargo & Company raised their price target on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Finally, Barclays increased their price objective on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $323.69.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’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 sale, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 26.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the transaction, the vice president now directly owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This represents a 21.44 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

General Dynamics Stock Performance

Shares of GD opened at $282.01 on Wednesday. The company has a market capitalization of $77.54 billion, a PE 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 Co. has a one year low of $243.87 and a one year high of $316.90. The company’s fifty day moving average price is $299.47 and its 200 day moving average price is $295.82.

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

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.