Contravisory Investment Management Inc. Makes New $540,000 Investment in General Dynamics Co. (NYSE:GD)

Contravisory Investment Management Inc. bought a new stake in General Dynamics Co. (NYSE:GD) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,980 shares of the aerospace company’s stock, valued at approximately $540,000.

Several other institutional investors also recently modified their holdings of GD. GAMMA Investing LLC raised its position in shares of General Dynamics by 34,578.2% during the 1st quarter. GAMMA Investing LLC now owns 1,244,600 shares of the aerospace company’s stock valued at $339,253,000 after acquiring an additional 1,241,011 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in shares of General Dynamics during the fourth quarter worth $279,582,000. Raymond James Financial Inc. acquired a new position in General Dynamics in the fourth quarter valued at about $197,238,000. Vanguard Group Inc. boosted its holdings in General Dynamics by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 23,780,078 shares of the aerospace company’s stock worth $6,265,813,000 after buying an additional 706,317 shares during the last quarter. Finally, Capital Research Global Investors grew its position in shares of General Dynamics by 7.4% during the 4th quarter. Capital Research Global Investors now owns 6,734,148 shares of the aerospace company’s stock worth $1,774,381,000 after buying an additional 463,497 shares during the period. Institutional investors and hedge funds own 86.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on GD. Citigroup lowered their price objective on shares of General Dynamics from $335.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Barclays cut their price objective on General Dynamics from $305.00 to $285.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Morgan Stanley decreased their price objective on General Dynamics from $305.00 to $300.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. BTIG Research downgraded shares of General Dynamics from a “buy” rating to a “neutral” rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company lowered their price objective on shares of General Dynamics from $261.00 to $236.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $293.00.

Insider Activity at General Dynamics

In other General Dynamics news, SVP Marguerite Amy Gilliland sold 27,562 shares of General Dynamics stock in a transaction on Monday, March 10th. The stock was sold at an average price of $272.11, for a total value of $7,499,895.82. Following the completion of the transaction, the senior vice president now directly owns 45,192 shares of the company’s stock, valued at $12,297,195.12. The trade was a 37.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by corporate insiders.

General Dynamics Stock Up 0.2%

General Dynamics stock opened at $276.13 on Wednesday. The company’s 50-day moving average price is $272.49 and its two-hundred day moving average price is $266.77. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The stock has a market cap of $74.11 billion, a P/E ratio of 20.24, a P/E/G ratio of 1.69 and a beta of 0.49. General Dynamics Co. has a twelve month low of $239.20 and a twelve month high of $316.90.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, April 23rd. The aerospace company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.43 by $0.23. General Dynamics had a return on equity of 17.10% and a net margin of 7.93%. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.92 billion. During the same period last year, the firm posted $2.88 EPS. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, analysts expect that General Dynamics Co. will post 14.83 EPS 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.