Camden National Bank Makes New Investment in General Dynamics Co. (NYSE:GD)

Camden National Bank purchased a new stake in shares of General Dynamics Co. (NYSE:GD) during the third quarter, Holdings Channel.com reports. The firm purchased 1,244 shares of the aerospace company’s stock, valued at approximately $376,000.

Several other hedge funds have also made changes to their positions in GD. Coston McIsaac & Partners lifted its holdings in shares of General Dynamics by 22.8% in the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after purchasing an additional 33 shares in the last quarter. Global X Japan Co. Ltd. lifted its stake in General Dynamics by 2.3% in the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock worth $448,000 after acquiring an additional 33 shares in the last quarter. Grove Bank & Trust boosted its position in General Dynamics by 10.6% during the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after acquiring an additional 34 shares during the period. Trueblood Wealth Management LLC grew its stake in General Dynamics by 1.6% during the 3rd quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock valued at $672,000 after acquiring an additional 34 shares in the last quarter. Finally, Modera Wealth Management LLC increased its holdings in shares of General Dynamics by 0.4% in the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after purchasing an additional 35 shares during the period. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 0.7 %

GD stock opened at $281.81 on Friday. 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 company has a 50-day moving average of $300.44 and a two-hundred day moving average of $295.98. The stock has a market capitalization of $77.49 billion, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 1.69 and a beta of 0.61. General Dynamics Co. has a 52-week low of $243.87 and a 52-week high of $316.90.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (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 business had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same period last year, the business earned $3.04 EPS. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities research analysts anticipate that General Dynamics Co. will post 13.98 EPS for the current year.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.52% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on GD shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a report on Friday, November 1st. Wells Fargo & Company boosted their price target on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Susquehanna boosted their price target on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.69.

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.