Becker Capital Management Inc. Increases Stock Holdings in General Dynamics Co. (NYSE:GD)

Becker Capital Management Inc. increased its stake in General Dynamics Co. (NYSE:GD) by 0.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,848 shares of the aerospace company’s stock after purchasing an additional 716 shares during the period. Becker Capital Management Inc.’s holdings in General Dynamics were worth $22,514,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Prospera Financial Services Inc grew its position in General Dynamics by 8,915.9% during the second quarter. Prospera Financial Services Inc now owns 1,894,060 shares of the aerospace company’s stock valued at $2,169,000 after acquiring an additional 1,873,052 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of General Dynamics by 63.3% in the second quarter. Prudential Financial Inc. now owns 981,791 shares of the aerospace company’s stock worth $184,832,000 after purchasing an additional 380,388 shares during the last quarter. Balyasny Asset Management LLC bought a new position in shares of General Dynamics in the second quarter worth approximately $54,612,000. State of Michigan Retirement System grew its holdings in shares of General Dynamics by 453.7% in the second quarter. State of Michigan Retirement System now owns 332,202 shares of the aerospace company’s stock worth $62,540,000 after purchasing an additional 272,200 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of General Dynamics by 12.2% in the second quarter. Bank of Montreal Can now owns 1,944,531 shares of the aerospace company’s stock worth $367,185,000 after purchasing an additional 211,992 shares during the last quarter. Institutional investors own 85.08% of the company’s stock.

GD has been the topic of several recent analyst reports. Susquehanna raised their target price on shares of General Dynamics from $225.00 to $240.00 and gave the stock a “positive” rating in a report on Thursday, October 28th. The Goldman Sachs Group raised General Dynamics from a “sell” rating to a “neutral” rating and set a $176.00 price target for the company in a research note on Thursday, September 23rd. Susquehanna Bancshares raised their price target on General Dynamics from $225.00 to $240.00 and gave the stock a “positive” rating in a research note on Thursday, October 28th. Wells Fargo & Company raised General Dynamics from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $220.00 to $230.00 in a research note on Thursday, October 28th. Finally, Cowen reaffirmed a “buy” rating on shares of General Dynamics in a research note on Monday, August 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $213.91.

NYSE GD traded down $1.55 during trading hours on Thursday, hitting $198.74. The company’s stock had a trading volume of 523,545 shares, compared to its average volume of 1,068,834. General Dynamics Co. has a 12 month low of $144.50 and a 12 month high of $210.21. The company’s 50 day simple moving average is $200.79 and its two-hundred day simple moving average is $196.01. The company has a market cap of $55.49 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 1.10.

General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, October 27th. The aerospace company reported $3.07 EPS for the quarter, topping the consensus estimate of $2.97 by $0.10. General Dynamics had a return on equity of 21.32% and a net margin of 8.55%. The company had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.86 billion. During the same period last year, the company earned $2.90 EPS. General Dynamics’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, research analysts predict that General Dynamics Co. will post 11.53 earnings per share for the current fiscal year.

General Dynamics Company Profile

General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, and Marine Systems.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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