13,715 Shares in General Dynamics Co. (NYSE:GD) Purchased by Algert Global LLC

Algert Global LLC purchased a new stake in shares of General Dynamics Co. (NYSE:GD) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 13,715 shares of the aerospace company’s stock, valued at approximately $4,145,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA grew its stake in General Dynamics by 2.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,829,662 shares of the aerospace company’s stock worth $2,366,124,000 after buying an additional 189,904 shares in the last quarter. Ameriprise Financial Inc. grew its position in General Dynamics by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock worth $601,756,000 after acquiring an additional 47,915 shares in the last quarter. Boston Partners increased its stake in General Dynamics by 1.4% in the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after acquiring an additional 23,262 shares during 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 purchasing an additional 23,304 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings 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 worth $464,526,000 after purchasing an additional 114,461 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Analyst Ratings Changes

GD has been the subject of a number of recent research reports. Sanford C. Bernstein dropped their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company boosted their price objective on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Royal Bank of Canada increased their target price on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, TD Cowen upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Seven 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 company. Based on data from MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and an average target price of $323.69.

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company’s 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 transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.52% of the stock is currently owned by insiders.

General Dynamics Price Performance

Shares of GD opened at $281.81 on Monday. The company has a market capitalization of $77.49 billion, a P/E ratio of 21.46, a P/E/G ratio of 1.69 and a beta of 0.61. The business’s 50-day moving average is $300.44 and its two-hundred day moving average is $296.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. General Dynamics Co. has a fifty-two week low of $243.87 and a fifty-two week high of $316.90.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.04 earnings per share. Research analysts predict that General Dynamics Co. will post 13.98 earnings per share for the current year.

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.