ING Groep NV Has $10.42 Million Stock Position in General Dynamics Co. (NYSE:GD)

ING Groep NV boosted its holdings in General Dynamics Co. (NYSE:GD) by 12.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,489 shares of the aerospace company’s stock after buying an additional 3,895 shares during the quarter. ING Groep NV’s holdings in General Dynamics were worth $10,423,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GD. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of General Dynamics during the first quarter worth $361,000. Mizuho Markets Americas LLC increased its stake in shares of General Dynamics by 98.6% in the 1st quarter. Mizuho Markets Americas LLC now owns 38,555 shares of the aerospace company’s stock valued at $10,891,000 after acquiring an additional 19,143 shares in the last quarter. First Foundation Advisors grew its stake in shares of General Dynamics by 28.1% in the 1st quarter. First Foundation Advisors now owns 1,376 shares of the aerospace company’s stock valued at $389,000 after buying an additional 302 shares during the period. Pinnacle Wealth Planning Services Inc. raised its position in shares of General Dynamics by 2.5% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 1,778 shares of the aerospace company’s stock worth $502,000 after purchasing an additional 44 shares during the period. Finally, Nicolet Advisory Services LLC lifted its stake in shares of General Dynamics by 4.8% in the first quarter. Nicolet Advisory Services LLC now owns 3,561 shares of the aerospace company’s stock valued at $1,029,000 after buying an additional 164 shares in the last quarter. 86.14% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction 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 sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.52% of the company’s stock.

General Dynamics Stock Down 6.9 %

GD opened at $292.42 on Friday. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. General Dynamics Co. has a 12 month low of $243.87 and a 12 month high of $316.90. The company has a market cap of $80.41 billion, a P/E ratio of 22.27, a P/E/G ratio of 1.90 and a beta of 0.61. The business’s 50-day moving average price is $302.64 and its 200-day moving average price is $296.23.

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). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The business had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. During the same period in the previous year, the business earned $3.04 earnings per share. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities analysts expect that General Dynamics Co. will post 13.97 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GD shares. Citigroup upped their price target on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barclays boosted 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. Sanford C. Bernstein reduced 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. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Finally, Wells Fargo & Company upped their price target on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and an average price target of $323.69.

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.