R Squared Ltd Buys 2,621 Shares of General Dynamics Corporation $GD

R Squared Ltd purchased a new position in General Dynamics Corporation (NYSE:GD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,621 shares of the aerospace company’s stock, valued at approximately $870,000.

Other hedge funds also recently modified their holdings of the company. Three Bridge Wealth Advisors LLC boosted its holdings in shares of General Dynamics by 1.0% in the 3rd quarter. Three Bridge Wealth Advisors LLC now owns 3,761 shares of the aerospace company’s stock valued at $1,248,000 after purchasing an additional 36 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in shares of General Dynamics by 15.0% in the 3rd quarter. Maryland State Retirement & Pension System now owns 15,843 shares of the aerospace company’s stock valued at $5,257,000 after purchasing an additional 2,072 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of General Dynamics by 5.0% during the 3rd quarter. Ritholtz Wealth Management now owns 18,177 shares of the aerospace company’s stock worth $6,032,000 after buying an additional 868 shares in the last quarter. UNIVEST FINANCIAL Corp raised its holdings in shares of General Dynamics by 4.3% during the 3rd quarter. UNIVEST FINANCIAL Corp now owns 1,301 shares of the aerospace company’s stock worth $432,000 after buying an additional 54 shares in the last quarter. Finally, NBH Bank lifted its position in shares of General Dynamics by 2.4% during the 3rd quarter. NBH Bank now owns 3,565 shares of the aerospace company’s stock worth $1,183,000 after buying an additional 82 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Insider Buying and Selling at General Dynamics

In other news, CEO Phebe N. Novakovic sold 45,353 shares of the stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $361.42, for a total value of $16,391,481.26. Following the completion of the sale, the chief executive officer owned 766,457 shares of the company’s stock, valued at approximately $277,012,888.94. This represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert K. Steel sold 7,440 shares of General Dynamics 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 completion of the transaction, the director directly owned 3,096 shares in the company, valued at approximately $1,071,370.80. This represents a 70.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.40% of the stock is owned by company insiders.

General Dynamics Stock Performance

NYSE:GD opened at $363.05 on Friday. The stock’s 50-day moving average is $349.26 and its 200-day moving average is $355.06. General Dynamics Corporation has a 1-year low of $306.77 and a 1-year high of $400.00. The company has a current ratio of 1.43, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23. The stock has a market cap of $98.10 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 2.07 and a beta of 0.30.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Friday, October 30th. The aerospace company reported $4.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter last year, the business earned $3.88 EPS. The firm’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 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Deutsche Bank reissued a “hold” rating and set a $384.00 target price on shares of General Dynamics in a research note on Thursday, July 30th. Robert W. Baird set a $430.00 price target on shares of General Dynamics in a research note on Thursday, July 30th. BNP Paribas Exane lifted their price target on shares of General Dynamics from $390.00 to $430.00 and gave the company an “outperform” rating in a report on Thursday, July 30th. TD Cowen lowered their price objective on shares of General Dynamics from $420.00 to $380.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Finally, Wells Fargo & Company boosted their target price on shares of General Dynamics from $400.00 to $440.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Eleven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, General Dynamics has an average rating of “Moderate Buy” and a consensus target price of $408.94.

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.