General Dynamics Corporation $GD Stock: Red Cedar Investment Management LLC Boosts Holdings

Red Cedar Investment Management LLC lifted its stake in General Dynamics Corporation (NYSE:GD) by 36.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,900 shares of the aerospace company’s stock after acquiring an additional 2,637 shares during the period. Red Cedar Investment Management LLC’s holdings in General Dynamics were worth $3,285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Wellington Altus USA Inc. increased its stake in General Dynamics by 77.8% during the 2nd quarter. Wellington Altus USA Inc. now owns 80 shares of the aerospace company’s stock valued at $27,000 after purchasing an additional 35 shares in the last quarter. Downshift Financial LLC raised its holdings in shares of General Dynamics by 134.3% in the third quarter. Downshift Financial LLC now owns 82 shares of the aerospace company’s stock worth $27,000 after buying an additional 47 shares during the last quarter. Morton Brown Family Wealth LLC lifted its stake in shares of General Dynamics by 182.8% during the third quarter. Morton Brown Family Wealth LLC now owns 82 shares of the aerospace company’s stock worth $27,000 after buying an additional 53 shares during the period. John Boyer Inc. acquired a new stake in shares of General Dynamics during the third quarter worth $28,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of General Dynamics during the first quarter valued at $29,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GD shares. UBS Group upped their target price on General Dynamics from $395.00 to $408.00 and gave the company a “neutral” rating in a research report on Tuesday, September 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of General Dynamics in a research report on Monday, September 28th. BNP Paribas Exane lifted their price target on General Dynamics from $390.00 to $430.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Jefferies Financial Group reiterated a “buy” rating and set a $455.00 price target on shares of General Dynamics in a research note on Monday, November 2nd. Finally, Robert W. Baird set a $430.00 price objective on General Dynamics in a report on Thursday, July 30th. Eleven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $408.94.

General Dynamics Stock Performance

Shares of NYSE GD opened at $361.94 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23. General Dynamics Corporation has a 12 month low of $306.77 and a 12 month high of $400.00. The company has a 50 day simple moving average of $349.41 and a two-hundred day simple moving average of $355.04. The stock has a market cap of $97.80 billion, a price-to-earnings ratio of 21.29, a PEG ratio of 2.06 and a beta of 0.30.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Friday, October 30th. The aerospace company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.12 by $0.37. The business had revenue of $14.57 billion for the quarter, compared to the consensus estimate of $13.72 billion. General Dynamics had a net margin of 8.24% and a return on equity of 17.60%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.88 EPS. As a group, analysts predict that General Dynamics Corporation will post 17.29 earnings per share for the current year.

Insider Buying and Selling at General Dynamics

In related news, Director Robert K. Steel sold 7,440 shares of the business’s stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $346.05, for a total transaction of $2,574,612.00. Following the completion of the transaction, the director directly owned 3,096 shares in the company, valued at $1,071,370.80. The trade was a 70.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Phebe Novakovic sold 45,353 shares of the company’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $361.42, for a total transaction of $16,391,481.26. Following the completion of the sale, the chief executive officer directly owned 766,457 shares in the company, valued at approximately $277,012,888.94. The trade was a 5.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.40% of the company’s stock.

General Dynamics Profile

General Dynamics Corporation is an aerospace and defense company that develops and manufactures products and provides services for commercial, government and military customers. Its businesses span aerospace, marine systems, combat systems and defense technologies.

The company makes Gulfstream business jets and provides aircraft services. Its marine systems operations design and build submarines and surface ships, while its combat systems business produces military vehicles, weapons systems and munitions.