2,173 Shares of General Dynamics Corporation $GD Acquired by M Holdings Securities Inc.

M Holdings Securities Inc. purchased a new stake in General Dynamics Corporation (NYSE:GD) during the 3rd quarter, Holdings Channel reports. The firm purchased 2,173 shares of the aerospace company’s stock, valued at approximately $768,000.

A number of other hedge funds also recently made changes to their positions in GD. BlackRock Inc. acquired a new stake in General Dynamics in the second quarter worth about $6,840,590,000. Bank of America Corp DE bought a new position in General Dynamics in the 2nd quarter valued at about $2,603,527,000. Corient Private Wealth LP acquired a new position in General Dynamics during the 2nd quarter valued at about $57,986,000. Bank of New York Mellon Corp acquired a new position in General Dynamics during the 2nd quarter valued at about $429,073,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of General Dynamics during the 2nd quarter worth about $224,983,000. Institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In other news, CEO Phebe N. Novakovic sold 45,353 shares of the stock in a transaction on Thursday, November 5th. The stock was 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 owned 766,457 shares in the company, valued at approximately $277,012,888.94. This represents a 5.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert K. Steel sold 7,440 shares of the firm’s stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $346.05, for a total value of $2,574,612.00. Following the sale, the director directly owned 3,096 shares of the company’s stock, valued at approximately $1,071,370.80. This represents a 70.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Robert W. Baird set a $430.00 price target on shares of General Dynamics in a research note on Thursday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of General Dynamics in a research note on Monday, September 28th. Wells Fargo & Company boosted their target price on General Dynamics from $400.00 to $440.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. BNP Paribas Exane boosted their target price on General Dynamics from $390.00 to $430.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $455.00 target price on shares of General Dynamics in a research report on Monday, November 2nd. Eleven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $408.94.

General Dynamics Stock Performance

Shares of GD opened at $367.50 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 0.94. The firm’s 50 day moving average is $349.32 and its 200-day moving average is $355.05. General Dynamics Corporation has a 12-month low of $306.77 and a 12-month high of $400.00. The stock has a market capitalization of $99.31 billion, a P/E ratio of 21.62, a P/E/G ratio of 2.04 and a beta of 0.30.

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

Key Stories Impacting General Dynamics

Here are the key news stories impacting General Dynamics this week:

• Positive Sentiment: Technical momentum: GD crossed above its 200-day moving average, a level the report describes as resistance; the move may signal a more bullish longer-term trend. Article: General Dynamics crossed above the 200-day moving average
• Positive Sentiment: Growth outlook: A recap of GD’s Q3 earnings call characterized its signals as pointing to stronger growth ahead. The company’s latest reported quarter also beat earnings and revenue estimates, with revenue up 12.9% year over year. Article: General Dynamics earnings call signals stronger growth ahead
• Positive Sentiment: Growth-stock screening: Zacks highlighted GD as a strong growth stock using its Style Scores, adding to the positive growth narrative. Article: Why General Dynamics is a strong growth stock
• Negative Sentiment: Insider selling: CEO Phebe Novakovic sold 45,353 shares for about $16.4 million, reducing her direct stake by 5.59%. She still held 766,457 shares after the transaction; the sale may nevertheless raise investor caution. Article: General Dynamics CEO sells 45,353 shares

About General Dynamics

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.