Nwam LLC Makes New Investment in General Dynamics Co. (NYSE:GD)

Nwam LLC purchased a new position in shares of General Dynamics Co. (NYSE:GD) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,546 shares of the aerospace company’s stock, valued at approximately $467,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GD. Fifth Third Wealth Advisors LLC boosted its stake in shares of General Dynamics by 67.6% in the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock valued at $2,583,000 after buying an additional 3,448 shares during the period. Olstein Capital Management L.P. increased its holdings in shares of General Dynamics by 36.4% during the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock worth $4,533,000 after buying an additional 4,000 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of General Dynamics by 10.0% during the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock worth $11,204,000 after buying an additional 3,363 shares in 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. Finally, Sumitomo Mitsui Trust Group Inc. increased 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 buying an additional 5,069 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Performance

Shares of GD stock opened at $281.81 on Monday. The stock has a fifty day moving average of $300.44 and a 200 day moving average of $296.02. General Dynamics Co. has a 52 week low of $243.87 and a 52 week high of $316.90. The firm has a market capitalization of $77.49 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.69 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.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The business 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 was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.04 EPS. As a group, research analysts expect that General Dynamics Co. will post 13.98 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GD shares. Royal Bank of Canada increased their price objective on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Sanford C. Bernstein reduced their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $293.00 to $345.00 in a report on Friday, August 9th. Barclays raised their target price on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company boosted their price target on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Seven equities research 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 stock. According to MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and an average 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 firm’s stock in a transaction 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 transaction, the director now 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 filing with the SEC, which can be accessed through this link. Insiders own 1.52% 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.