Marks Group Wealth Management Inc Acquires 685 Shares of General Dynamics Co. (NYSE:GD)

Marks Group Wealth Management Inc lifted its holdings in shares of General Dynamics Co. (NYSE:GD) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,274 shares of the aerospace company’s stock after purchasing an additional 685 shares during the quarter. Marks Group Wealth Management Inc’s holdings in General Dynamics were worth $8,242,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. International Assets Investment Management LLC boosted its holdings in shares of General Dynamics by 40,389.3% in the third quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock valued at $416,876,000 after buying an additional 1,376,065 shares during the period. 1832 Asset Management L.P. boosted its stake in General Dynamics by 2,189.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock worth $108,572,000 after purchasing an additional 357,861 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in General Dynamics by 879.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 340,359 shares of the aerospace company’s stock worth $96,148,000 after purchasing an additional 305,624 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings 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 purchasing an additional 293,316 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of General Dynamics by 24.2% in the 2nd quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock valued at $391,119,000 after purchasing an additional 262,164 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Stock Up 1.1 %

GD stock opened at $296.78 on Wednesday. General Dynamics Co. has a 1-year low of $238.31 and a 1-year high of $313.11. The business’s 50 day simple moving average is $301.01 and its 200 day simple moving average is $295.29. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $81.61 billion, a PE ratio of 22.60, a PEG ratio of 1.75 and a beta of 0.61.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion during 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%. General Dynamics’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.04 earnings per share. As a group, research analysts anticipate that General Dynamics Co. will post 13.97 EPS for the current year.

Insiders Place Their Bets

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 stock was 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 of the company’s stock, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GD. Sanford C. Bernstein decreased their price objective on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada lifted 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. Susquehanna increased their target price on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Seven 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus 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.