Daiwa Securities Group Inc. Has $8.93 Million Stake in General Dynamics Co. (NYSE:GD)

Daiwa Securities Group Inc. grew its stake in General Dynamics Co. (NYSE:GD) by 17.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,557 shares of the aerospace company’s stock after acquiring an additional 4,353 shares during the quarter. Daiwa Securities Group Inc.’s holdings in General Dynamics were worth $8,932,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GD. MFA Wealth Advisors LLC increased its stake in General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 58 shares in the last quarter. Hara Capital LLC acquired a new position in shares of General Dynamics in the 3rd quarter valued at $26,000. New Covenant Trust Company N.A. acquired a new stake in General Dynamics during the 1st quarter worth $29,000. American Capital Advisory LLC bought a new position in General Dynamics during the second quarter worth about $29,000. Finally, Lowe Wealth Advisors LLC acquired a new position in General Dynamics in the third quarter valued at about $30,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Down 0.2 %

Shares of NYSE GD opened at $281.30 on Tuesday. The stock has a market capitalization of $77.35 billion, a P/E ratio of 21.42, a PEG ratio of 1.70 and a beta of 0.61. The stock’s fifty day moving average is $299.91 and its 200 day moving average is $295.92. General Dynamics Co. has a 52 week low of $243.87 and a 52 week high of $316.90. 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 (NYSE:GD) last issued its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). The firm had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. General Dynamics’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.04 earnings per share. Sell-side analysts forecast that General Dynamics Co. will post 13.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GD shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Susquehanna raised 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. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Citigroup increased their price objective on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada lifted their target price on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Seven investment 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. Based on data from MarketBeat, General Dynamics currently has an average rating of “Moderate Buy” and a consensus target price 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.