Equity Investment Corp Has $78.58 Million Stock Position in General Dynamics Co. (NYSE:GD)

Equity Investment Corp lowered its holdings in shares of General Dynamics Co. (NYSE:GD) by 0.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 260,011 shares of the aerospace company’s stock after selling 2,051 shares during the period. General Dynamics comprises about 1.8% of Equity Investment Corp’s portfolio, making the stock its 29th biggest holding. Equity Investment Corp’s holdings in General Dynamics were worth $78,575,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. MFA Wealth Advisors LLC increased its holdings in General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 58 shares in the last quarter. Hara Capital LLC bought a new stake in shares of General Dynamics in the 3rd quarter valued at about $26,000. New Covenant Trust Company N.A. bought a new stake in shares of General Dynamics in the 1st quarter valued at about $29,000. American Capital Advisory LLC bought a new stake in shares of General Dynamics in the 2nd quarter valued at about $29,000. Finally, Lowe Wealth Advisors LLC bought a new stake in shares of General Dynamics in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $287.99 on Monday. The company has a market cap of $79.19 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 1.74 and a beta of 0.61. General Dynamics Co. has a 52 week low of $243.87 and a 52 week high of $316.90. The business has a 50 day moving average price of $302.45 and a 200-day moving average price of $296.34. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the company earned $3.04 earnings per share. Equities analysts anticipate that General Dynamics Co. will post 13.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on GD shares. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Citigroup upped their price target on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company upped their target price on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Royal Bank of Canada upped their target price on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.69.

Insider Transactions at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.52% of the company’s stock.

About General Dynamics

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.