SevenBridge Financial Group LLC Buys 405 Shares of General Dynamics Co. (NYSE:GD)

SevenBridge Financial Group LLC raised its position in shares of General Dynamics Co. (NYSE:GD) by 4.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 9,563 shares of the aerospace company’s stock after acquiring an additional 405 shares during the quarter. SevenBridge Financial Group LLC’s holdings in General Dynamics were worth $3,002,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in GD. Fifth Third Wealth Advisors LLC raised its stake in General Dynamics by 67.6% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock valued at $2,583,000 after acquiring an additional 3,448 shares during the period. Olstein Capital Management L.P. lifted its stake in shares of General Dynamics by 36.4% during the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after buying an additional 4,000 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake 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 buying an additional 3,363 shares in the last quarter. Lummis Asset Management LP boosted its holdings in General Dynamics by 32.6% in the 3rd 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 during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in General Dynamics by 0.9% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 588,619 shares of the aerospace company’s stock valued at $177,881,000 after acquiring an additional 5,069 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. The trade was a 26.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GD. 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 note on Friday, August 9th. Wells Fargo & Company lifted their target price on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Barclays increased their price target on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Finally, Susquehanna boosted their price target on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $323.69.

General Dynamics Stock Performance

Shares of GD stock opened at $281.81 on Friday. 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 stock has a fifty day moving average of $300.44 and a 200 day moving average of $296.00. General Dynamics Co. has a 52 week low of $243.87 and a 52 week high of $316.90. 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 posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. During the same period in the prior year, the business posted $3.04 earnings per share. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, research analysts expect that General Dynamics Co. will post 13.98 earnings per share for the current year.

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.