Bank of Montreal Can Purchases 19,213 Shares of General Dynamics Co. (NYSE:GD)

Bank of Montreal Can grew its stake in General Dynamics Co. (NYSE:GD) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,356,939 shares of the aerospace company’s stock after buying an additional 19,213 shares during the quarter. Bank of Montreal Can owned approximately 0.49% of General Dynamics worth $407,258,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC lifted its position in General Dynamics by 40,389.3% during 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 purchasing an additional 1,376,065 shares during the last quarter. 1832 Asset Management L.P. grew its stake in General Dynamics by 2,189.3% in the second 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 in the last quarter. Massachusetts Financial Services Co. MA raised its stake in General Dynamics by 4.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock worth $2,216,599,000 after buying an additional 293,316 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in General Dynamics by 24.2% in the second quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock worth $391,119,000 after acquiring an additional 262,164 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its position in shares of General Dynamics by 174.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 384,151 shares of the aerospace company’s stock valued at $111,458,000 after acquiring an additional 244,373 shares during the period. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Price Performance

Shares of NYSE GD traded up $0.10 on Monday, hitting $281.91. The company’s stock had a trading volume of 182,601 shares, compared to its average volume of 1,107,990. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. General Dynamics Co. has a 12-month low of $243.87 and a 12-month high of $316.90. The company has a market capitalization of $77.52 billion, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 1.70 and a beta of 0.61. The stock has a 50 day moving average of $300.44 and a 200-day moving average of $296.02.

General Dynamics (NYSE:GD) last released 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 net margin of 7.90% and a return on equity of 16.59%. The business had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the previous year, the company posted $3.04 earnings per share. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, research analysts predict that General Dynamics Co. will post 13.98 EPS for the current year.

Analyst Upgrades and Downgrades

GD has been the topic of several analyst reports. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Royal Bank of Canada lifted their price target on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Sanford C. Bernstein decreased their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company boosted their price target on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. 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 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $323.69.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,106,515.60. The trade was a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

General Dynamics 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.