Empirical Finance LLC Has $2.37 Million Stock Position in General Dynamics Co. (NYSE:GD)

Empirical Finance LLC raised its holdings in General Dynamics Co. (NYSE:GD) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,851 shares of the aerospace company’s stock after buying an additional 165 shares during the period. Empirical Finance LLC’s holdings in General Dynamics were worth $2,373,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Olstein Capital Management L.P. increased its stake in General Dynamics by 36.4% in the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after acquiring an additional 4,000 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of General Dynamics by 10.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after purchasing an additional 3,363 shares during the last quarter. Lummis Asset Management LP increased its holdings in shares of General Dynamics by 32.6% during the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock worth $3,133,000 after buying an additional 2,551 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of General Dynamics by 0.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 588,619 shares of the aerospace company’s stock worth $177,881,000 after purchasing an additional 5,069 shares during the last quarter. Finally, CWC Advisors LLC. acquired a new position in shares of General Dynamics during the third quarter worth $771,000. 86.14% of the stock is currently owned by institutional investors.

Insider Activity at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.52% of the stock is currently owned by insiders.

General Dynamics Trading Down 1.5 %

NYSE GD opened at $288.01 on Friday. The firm has a market cap of $79.19 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.90 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. General Dynamics Co. has a one year low of $243.87 and a one year high of $316.90. The firm has a 50 day simple moving average of $302.45 and a 200-day simple moving average of $296.21.

General Dynamics (NYSE:GD) last released its quarterly earnings data 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). The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.04 EPS. Equities research analysts anticipate that General Dynamics Co. will post 13.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GD. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $293.00 to $345.00 in a research note on Friday, August 9th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Barclays increased their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Royal Bank of Canada raised their target price on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.