General Dynamics Co. (NYSE:GD) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its stake in General Dynamics Co. (NYSE:GD) by 11.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,179 shares of the aerospace company’s stock after purchasing an additional 1,563 shares during the period. Concurrent Investment Advisors LLC’s holdings in General Dynamics were worth $4,587,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of GD. Massachusetts Financial Services Co. MA raised its stake in shares of General Dynamics by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after buying an additional 293,316 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of General Dynamics by 2.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock worth $1,351,041,000 after buying an additional 115,063 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of General Dynamics by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock valued at $601,756,000 after purchasing an additional 47,915 shares during the last quarter. Boston Partners increased its position in General Dynamics by 1.4% during the first quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock worth $474,927,000 after buying an additional 23,262 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in General Dynamics by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock worth $466,049,000 after purchasing an additional 23,304 shares in the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Price Performance

NYSE:GD opened at $308.43 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The firm has a market cap of $84.81 billion, a P/E ratio of 23.49, a PEG ratio of 1.78 and a beta of 0.61. General Dynamics Co. has a 52-week low of $238.31 and a 52-week high of $313.11. The business’s 50-day moving average price is $301.25 and its 200 day moving average price is $295.38.

General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The firm had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.04 EPS. As a group, sell-side analysts predict that General Dynamics Co. will post 13.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GD shares. Susquehanna raised their price target on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research note on Thursday, October 17th. Wells Fargo & Company increased their price target on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Barclays boosted their price objective on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $323.69.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.