Pzena Investment Management LLC Purchases 155 Shares of General Dynamics Co. (NYSE:GD)

Pzena Investment Management LLC lifted its position in shares of General Dynamics Co. (NYSE:GD) by 0.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 270,507 shares of the aerospace company’s stock after acquiring an additional 155 shares during the quarter. Pzena Investment Management LLC owned approximately 0.10% of General Dynamics worth $81,747,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its position in shares of General Dynamics by 59.1% during the 1st quarter. Acadian Asset Management LLC now owns 2,377 shares of the aerospace company’s stock valued at $670,000 after acquiring an additional 883 shares during the last quarter. Edgestream Partners L.P. raised its position in shares of General Dynamics by 116.2% during 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. Clearbridge Investments LLC purchased a new position in General Dynamics in the first quarter worth $493,000. Bessemer Group Inc. boosted its holdings in shares of General Dynamics by 16.8% in the 1st quarter. Bessemer Group Inc. now owns 14,114 shares of the aerospace company’s stock worth $3,989,000 after purchasing an additional 2,031 shares in the last quarter. Finally, Lake Street Advisors Group LLC boosted its stake in General Dynamics by 35.2% in the first quarter. Lake Street Advisors Group LLC now owns 3,052 shares of the aerospace company’s stock worth $862,000 after buying an additional 794 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Down 0.6 %

GD traded down $1.76 during trading hours on Wednesday, reaching $279.20. 208,501 shares of the company’s stock traded hands, compared to its average volume of 1,100,528. 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 firm has a 50-day moving average price of $301.71 and a 200 day moving average price of $296.28. 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 $76.77 billion, a PE ratio of 21.40, a PEG ratio of 1.74 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced 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 the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.04 EPS. As a group, sell-side analysts predict that General Dynamics Co. will post 13.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Sanford C. Bernstein lowered their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Barclays upped their price target on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Finally, Royal Bank of Canada lifted 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. Seven 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $323.69.

Insider Buying and Selling

In related news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is owned by insiders.

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.