General Dynamics Co. (NYSE:GD) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its stake in General Dynamics Co. (NYSE:GD) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 588,619 shares of the aerospace company’s stock after acquiring an additional 5,069 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.21% of General Dynamics worth $177,881,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA grew its stake in 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 during the last quarter. Price T Rowe Associates Inc. MD increased its holdings 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 acquiring an additional 115,063 shares during the period. Ameriprise Financial Inc. lifted its position in General Dynamics by 2.4% in the 2nd 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 boosted its stake in General Dynamics by 1.4% during the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock valued at $474,927,000 after purchasing an additional 23,262 shares during the period. Finally, Bank of New York Mellon Corp grew its position in General Dynamics by 1.5% in 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 during the last quarter. 86.14% of the stock is owned by institutional investors.

General Dynamics Stock Performance

Shares of NYSE GD opened at $312.12 on Wednesday. General Dynamics Co. has a 52-week low of $243.52 and a 52-week high of $315.93. The stock has a market capitalization of $85.82 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 1.87 and a beta of 0.61. 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 stock’s fifty day simple moving average is $301.91 and its 200 day simple moving average is $295.91.

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

Insider Activity at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.52% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Royal Bank of Canada boosted their price objective on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Barclays increased their price target on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Sanford C. Bernstein cut their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Finally, Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and an average price target of $323.69.

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.