Sanders Capital LLC Buys 49,397 Shares of General Dynamics Co. (NYSE:GD)

Sanders Capital LLC boosted its holdings in shares of General Dynamics Co. (NYSE:GD) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,178,460 shares of the aerospace company’s stock after buying an additional 49,397 shares during the quarter. General Dynamics makes up approximately 1.8% of Sanders Capital LLC’s investment portfolio, making the stock its 17th largest position. Sanders Capital LLC owned approximately 1.52% of General Dynamics worth $1,262,731,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. MFA Wealth Advisors LLC raised its position in General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 58 shares in the last quarter. Hara Capital LLC acquired a new stake in shares of General Dynamics in the third quarter valued at about $26,000. New Covenant Trust Company N.A. bought a new stake in shares of General Dynamics in the 1st quarter valued at $29,000. American Capital Advisory LLC acquired a new position in shares of General Dynamics in the 2nd quarter valued at about $29,000. Finally, Lowe Wealth Advisors LLC bought a new position in shares of General Dynamics during the 3rd quarter worth approximately $30,000. Institutional investors own 86.14% of the company’s stock.

Insider Activity

In other news, Director Peter A. Wall sold 1,320 shares of the company’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 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 filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

General Dynamics Price Performance

GD opened at $280.21 on Tuesday. The firm has a market cap of $77.05 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 1.70 and a beta of 0.61. General Dynamics Co. has a 1 year low of $243.87 and a 1 year high of $316.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The stock’s 50 day simple moving average is $299.91 and its 200 day simple moving average is $295.92.

General Dynamics (NYSE:GD) last posted its 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 for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm posted $3.04 earnings per share. As a group, analysts predict that General Dynamics Co. will post 13.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Citigroup upped their target price on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered their target price on General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Royal Bank of Canada upped their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Barclays raised their target price on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Finally, TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $323.69.

About General Dynamics

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.