Russell Investments Group Ltd. Acquires 136,485 Shares of General Dynamics Corporation $GD

Russell Investments Group Ltd. raised its holdings in General Dynamics Corporation (NYSE:GD) by 31.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 571,553 shares of the aerospace company’s stock after buying an additional 136,485 shares during the period. Russell Investments Group Ltd. owned 0.21% of General Dynamics worth $189,665,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ariadne Wealth Management LP boosted its position in General Dynamics by 64.5% during the third quarter. Ariadne Wealth Management LP now owns 1,143 shares of the aerospace company’s stock valued at $379,000 after purchasing an additional 448 shares during the last quarter. R Squared Ltd bought a new position in General Dynamics in the third quarter valued at approximately $870,000. Three Bridge Wealth Advisors LLC increased its position in shares of General Dynamics by 1.0% during the 3rd quarter. Three Bridge Wealth Advisors LLC now owns 3,761 shares of the aerospace company’s stock worth $1,248,000 after purchasing an additional 36 shares during the last quarter. Maryland State Retirement & Pension System increased its position in shares of General Dynamics by 15.0% during the 3rd quarter. Maryland State Retirement & Pension System now owns 15,843 shares of the aerospace company’s stock worth $5,257,000 after purchasing an additional 2,072 shares during the last quarter. Finally, Ritholtz Wealth Management increased its position 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 purchasing an additional 868 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

General Dynamics Price Performance

Shares of NYSE GD opened at $363.05 on Friday. The business’s 50 day moving average price is $349.26 and its two-hundred day moving average price is $355.06. The company has a market cap of $98.10 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 2.07 and a beta of 0.30. 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 Corporation has a twelve month low of $306.77 and a twelve month high of $400.00.

General Dynamics (NYSE:GD) last released 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 return on equity of 17.60% and a net margin of 8.24%. The company had revenue of $14.57 billion during the quarter, compared to analysts’ expectations of $13.72 billion. During the same period last year, the firm posted $3.88 earnings per share. The business’s revenue was up 12.9% on a year-over-year basis. On average, analysts predict that General Dynamics Corporation will post 17.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GD. Robert W. Baird set a $430.00 price objective on General Dynamics in a report on Thursday, July 30th. Susquehanna boosted their target price on shares of General Dynamics from $420.00 to $455.00 and gave the stock a “positive” rating in a report on Thursday, July 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of General Dynamics in a research report on Monday, September 28th. Morgan Stanley increased their price target on shares of General Dynamics from $465.00 to $480.00 and gave the company an “overweight” rating in a research note on Tuesday, November 3rd. Finally, TD Cowen cut their price target on shares of General Dynamics from $420.00 to $380.00 and set a “buy” rating for the company in a research note on Friday, October 9th. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $408.94.

Insiders Place Their Bets

In other General Dynamics news, CEO Phebe Novakovic sold 45,353 shares of the firm’s 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 of the company’s stock, valued at $277,012,888.94. This trade represents a 5.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert K. Steel sold 7,440 shares of General Dynamics stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $346.05, for a total transaction of $2,574,612.00. Following the transaction, the director directly owned 3,096 shares of the company’s stock, valued at approximately $1,071,370.80. This trade represents a 70.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.40% of the stock is currently owned by corporate insiders.

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.