Townsquare Capital LLC Grows Position in General Dynamics Co. (NYSE:GD)

Townsquare Capital LLC raised its position in shares of General Dynamics Co. (NYSE:GD) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,872 shares of the aerospace company’s stock after acquiring an additional 1,339 shares during the period. Townsquare Capital LLC’s holdings in General Dynamics were worth $12,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

General Dynamics Stock Performance

Shares of GD opened at $282.31 on Thursday. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The firm has a market cap of $77.63 billion, a PE ratio of 21.50, a P/E/G ratio of 1.70 and a beta of 0.61. General Dynamics Co. has a 12 month low of $243.87 and a 12 month high of $316.90. The stock has a fifty day moving average price of $299.07 and a 200-day moving average price of $295.72.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The business had revenue of $11.67 billion during 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 company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.04 earnings per share. Equities research analysts predict that General Dynamics Co. will post 13.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GD has been the topic of several recent research reports. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Barclays raised their price target on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Royal Bank of Canada lifted their target price on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Susquehanna raised their price target on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research note on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and an average price target of $323.69.

Insider Activity at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction on 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 sale, the vice president now directly owns 20,296 shares of the company’s stock, valued at $5,701,349.36. The trade was a 21.44 % 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. Also, Director Peter A. Wall sold 1,320 shares of the company’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 completion of the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by insiders.

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.