Maryland State Retirement & Pension System Purchases 2,072 Shares of General Dynamics Corporation $GD

Maryland State Retirement & Pension System raised its position in shares of General Dynamics Corporation (NYSE:GD) by 15.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,843 shares of the aerospace company’s stock after acquiring an additional 2,072 shares during the quarter. Maryland State Retirement & Pension System’s holdings in General Dynamics were worth $5,257,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Oxford Financial Group LTD. LLC boosted its position in shares of General Dynamics by 1.9% during the 2nd quarter. Oxford Financial Group LTD. LLC now owns 1,426 shares of the aerospace company’s stock valued at $505,000 after purchasing an additional 26 shares in the last quarter. Willner & Heller LLC grew its stake in General Dynamics by 1.4% during the second quarter. Willner & Heller LLC now owns 2,050 shares of the aerospace company’s stock worth $726,000 after purchasing an additional 28 shares during the period. Meriwether Wealth & Planning LLC increased its holdings in General Dynamics by 0.8% in the second quarter. Meriwether Wealth & Planning LLC now owns 3,443 shares of the aerospace company’s stock worth $1,220,000 after purchasing an additional 28 shares in the last quarter. Gryphon Financial Partners LLC increased its holdings in General Dynamics by 0.9% in the third quarter. Gryphon Financial Partners LLC now owns 3,083 shares of the aerospace company’s stock worth $1,023,000 after purchasing an additional 28 shares in the last quarter. Finally, Capital Advisors Inc. OK lifted its stake in General Dynamics by 0.6% in the second quarter. Capital Advisors Inc. OK now owns 4,551 shares of the aerospace company’s stock valued at $1,612,000 after buying an additional 29 shares during the period. Institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Down 1.1%

NYSE GD opened at $363.05 on Friday. The company has a market cap of $98.10 billion, a price-to-earnings ratio of 21.36, a P/E/G ratio of 2.07 and a beta of 0.30. General Dynamics Corporation has a 52 week low of $306.77 and a 52 week high of $400.00. The business has a 50 day moving average price of $349.26 and a 200-day moving average price of $355.06. The company has a quick ratio of 0.94, a current ratio of 1.43 and a debt-to-equity ratio of 0.23.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Susquehanna lifted their price objective on shares of General Dynamics from $420.00 to $455.00 and gave the company a “positive” rating in a research note on Thursday, July 30th. Jefferies Financial Group reissued a “buy” rating and set a $455.00 target price on shares of General Dynamics in a research note on Monday, November 2nd. Weiss Ratings restated a “buy (b)” rating on shares of General Dynamics in a report on Monday, September 28th. Deutsche Bank reaffirmed a “hold” rating and issued a $384.00 price target on shares of General Dynamics in a research note on Thursday, July 30th. Finally, Morgan Stanley upped their price objective on shares of General Dynamics from $465.00 to $480.00 and gave the company an “overweight” rating in a report on Tuesday, November 3rd. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, General Dynamics has a consensus rating of “Moderate Buy” and an average target price of $408.94.

Insider Transactions at General Dynamics

In other General Dynamics news, CEO Phebe N. Novakovic sold 45,353 shares of General Dynamics stock in a transaction dated 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 transaction, the chief executive officer owned 766,457 shares in the company, valued at approximately $277,012,888.94. The trade was a 5.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert K. Steel sold 7,440 shares of the business’s stock in a transaction that occurred 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 $1,071,370.80. This represents a 70.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.40% of the company’s stock.

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.