BB&T Corp raised its holdings in shares of General Dynamics Co. (NYSE:GD) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,089 shares of the aerospace company’s stock after purchasing an additional 281 shares during the quarter. BB&T Corp’s holdings in General Dynamics were worth $10,255,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Amundi Pioneer Asset Management Inc. grew its holdings in shares of General Dynamics by 1.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 132,998 shares of the aerospace company’s stock valued at $29,380,000 after buying an additional 1,497 shares during the period. Private Capital Group LLC lifted its position in General Dynamics by 37.5% in the 1st quarter. Private Capital Group LLC now owns 1,291 shares of the aerospace company’s stock valued at $285,000 after acquiring an additional 352 shares in the last quarter. M Holdings Securities Inc. bought a new stake in General Dynamics in the 1st quarter valued at $274,000. Moors & Cabot Inc. lifted its position in General Dynamics by 10.1% in the 1st quarter. Moors & Cabot Inc. now owns 4,616 shares of the aerospace company’s stock valued at $1,020,000 after acquiring an additional 425 shares in the last quarter. Finally, CIBC World Markets Inc. lifted its position in General Dynamics by 211.3% in the 1st quarter. CIBC World Markets Inc. now owns 43,376 shares of the aerospace company’s stock valued at $9,582,000 after acquiring an additional 29,440 shares in the last quarter. Hedge funds and other institutional investors own 85.84% of the company’s stock.
Several research firms recently commented on GD. Credit Suisse Group boosted their price objective on shares of General Dynamics from $224.00 to $229.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Zacks Investment Research cut shares of General Dynamics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. Bank of America set a $275.00 price objective on shares of General Dynamics and gave the company a “buy” rating in a research report on Tuesday, July 31st. ValuEngine raised shares of General Dynamics from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $230.00 price objective on shares of General Dynamics in a research report on Thursday, August 16th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $231.00.
In other news, Director Mark Malcolm acquired 3,000 shares of the stock in a transaction dated Friday, October 26th. The shares were bought at an average cost of $169.87 per share, for a total transaction of $509,610.00. Following the purchase, the director now directly owns 4,455 shares of the company’s stock, valued at $756,770.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Patrick Casey sold 22,500 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $193.28, for a total transaction of $4,348,800.00. Following the transaction, the insider now owns 118,555 shares in the company, valued at $22,914,310.40. The disclosure for this sale can be found here. Insiders own 6.70% of the company’s stock.
NYSE:GD traded down $0.06 on Friday, hitting $184.50. 1,245,220 shares of the company’s stock were exchanged, compared to its average volume of 2,057,492. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.27 and a quick ratio of 0.87. General Dynamics Co. has a 52 week low of $164.76 and a 52 week high of $230.00. The stock has a market capitalization of $54.80 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 1.47 and a beta of 0.98.
General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $2.89 EPS for the quarter, topping the consensus estimate of $2.76 by $0.13. General Dynamics had a net margin of 9.01% and a return on equity of 27.22%. The firm had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $9.41 billion. During the same period in the previous year, the firm posted $2.52 EPS. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, analysts anticipate that General Dynamics Co. will post 11.3 earnings per share for the current fiscal year.
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About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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