Mechanics Financial Corp Acquires 50 Shares of General Dynamics Co. (NYSE:GD)

Mechanics Financial Corp grew its holdings in General Dynamics Co. (NYSE:GD) by 0.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,553 shares of the aerospace company’s stock after acquiring an additional 50 shares during the quarter. General Dynamics accounts for about 1.1% of Mechanics Financial Corp’s investment portfolio, making the stock its 16th largest holding. Mechanics Financial Corp’s holdings in General Dynamics were worth $2,585,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GD. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of General Dynamics in the first quarter valued at about $361,000. Intech Investment Management LLC lifted its holdings in General Dynamics by 405.7% during the 1st quarter. Intech Investment Management LLC now owns 12,172 shares of the aerospace company’s stock valued at $3,438,000 after purchasing an additional 9,765 shares during the last quarter. TIAA Trust National Association boosted its holdings in shares of General Dynamics by 2.8% during the 1st quarter. TIAA Trust National Association now owns 7,814 shares of the aerospace company’s stock worth $2,207,000 after buying an additional 211 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of General Dynamics by 59.1% during the first quarter. Acadian Asset Management LLC now owns 2,377 shares of the aerospace company’s stock worth $670,000 after acquiring an additional 883 shares during the period. Finally, Edgestream Partners L.P. grew its holdings in General Dynamics by 116.2% in the 1st quarter. Edgestream Partners L.P. now owns 2,662 shares of the aerospace company’s stock valued at $752,000 after buying an additional 1,431 shares in the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

General Dynamics Stock Performance

GD stock opened at $287.99 on Friday. General Dynamics Co. has a 1-year low of $243.87 and a 1-year high of $316.90. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average price of $302.45 and a 200-day moving average price of $296.27. The firm 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 (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The business had revenue of $11.67 billion during 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%. General Dynamics’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the firm posted $3.04 earnings per share. As a group, equities research analysts expect that General Dynamics Co. will post 13.98 earnings per share for the current year.

Insider Buying and Selling

In other General Dynamics 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 value of $406,626.00. Following the transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.52% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Royal Bank of Canada upped their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. TD Cowen raised General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Morgan Stanley raised 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 research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $323.69.

General Dynamics 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.