Prospera Private Wealth LLC bought a new position in shares of General Dynamics Co. (NYSE:GD – Free Report) in the third quarter, Holdings Channel reports. The firm bought 653 shares of the aerospace company’s stock, valued at approximately $197,000.
A number of other institutional investors have also modified their holdings of GD. Massachusetts Financial Services Co. MA lifted its position in General Dynamics by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after acquiring an additional 293,316 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in General Dynamics by 2.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,782,612 shares of the aerospace company’s stock worth $1,351,041,000 after acquiring an additional 115,063 shares in the last quarter. Ameriprise Financial Inc. lifted its position in General Dynamics by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,071,803 shares of the aerospace company’s stock worth $601,756,000 after acquiring an additional 47,915 shares in the last quarter. Boston Partners lifted its position in General Dynamics by 1.4% during the 1st quarter. Boston Partners now owns 1,680,666 shares of the aerospace company’s stock worth $474,927,000 after acquiring an additional 23,262 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in General Dynamics by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,606,289 shares of the aerospace company’s stock worth $466,049,000 after acquiring an additional 23,304 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.
General Dynamics Trading Down 0.3 %
NYSE:GD opened at $279.98 on Thursday. General Dynamics Co. has a 1 year low of $243.87 and a 1 year high of $316.90. The stock has a market cap of $76.99 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 1.74 and a beta of 0.61. The business has a fifty day moving average of $301.32 and a 200-day moving average of $296.16. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32.
Analysts Set New Price Targets
Several equities analysts recently commented on the company. Sanford C. Bernstein reduced their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Barclays boosted their price target on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Wells Fargo & Company boosted their price target on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Finally, Susquehanna boosted their price target on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $323.69.
Insider Activity
In other 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 completion of the sale, the director now owns 3,592 shares in the company, valued at $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 available through this link. Insiders own 1.60% of the company’s stock.
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.
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