Richard Bernstein Advisors LLC reduced its holdings in General Dynamics Co. (NYSE:GD – Free Report) by 11.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,180 shares of the aerospace company’s stock after selling 3,519 shares during the period. Richard Bernstein Advisors LLC’s holdings in General Dynamics were worth $5,848,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the business. Penserra Capital Management LLC grew its holdings in General Dynamics by 10,350.0% in the second quarter. Penserra Capital Management LLC now owns 1,463 shares of the aerospace company’s stock valued at $314,000 after purchasing an additional 1,449 shares during the period. ExodusPoint Capital Management LP lifted its position in shares of General Dynamics by 36.6% in the second quarter. ExodusPoint Capital Management LP now owns 18,621 shares of the aerospace company’s stock valued at $4,006,000 after acquiring an additional 4,992 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of General Dynamics by 17.0% in the second quarter. Osaic Holdings Inc. now owns 170,191 shares of the aerospace company’s stock valued at $31,218,000 after acquiring an additional 24,748 shares in the last quarter. Altrius Capital Management Inc lifted its position in shares of General Dynamics by 4.9% in the second quarter. Altrius Capital Management Inc now owns 14,618 shares of the aerospace company’s stock valued at $3,145,000 after acquiring an additional 688 shares in the last quarter. Finally, King Luther Capital Management Corp lifted its position in shares of General Dynamics by 0.4% in the second quarter. King Luther Capital Management Corp now owns 28,403 shares of the aerospace company’s stock valued at $6,111,000 after acquiring an additional 120 shares in the last quarter. 86.08% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
GD has been the topic of several research reports. Morgan Stanley raised their target price on General Dynamics from $248.00 to $250.00 in a research report on Thursday, July 27th. Susquehanna lifted their price objective on General Dynamics from $270.00 to $285.00 and gave the stock a “positive” rating in a research report on Thursday, October 26th. StockNews.com initiated coverage on General Dynamics in a research report on Thursday, October 5th. They set a “buy” rating on the stock. UBS Group started coverage on General Dynamics in a research report on Tuesday, October 10th. They set a “neutral” rating and a $265.00 price objective on the stock. Finally, Berenberg Bank lifted their target price on General Dynamics from $254.00 to $258.00 and gave the company a “market perform” rating in a research report on Tuesday, September 26th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $263.43.
General Dynamics Stock Up 0.1 %
NYSE GD traded up $0.26 during trading hours on Tuesday, hitting $246.04. 62,763 shares of the company were exchanged, compared to its average volume of 1,189,084. The company has a 50 day moving average of $233.47 and a two-hundred day moving average of $222.58. The company has a quick ratio of 0.91, a current ratio of 1.43 and a debt-to-equity ratio of 0.46. General Dynamics Co. has a 52-week low of $202.35 and a 52-week high of $256.86. The firm has a market cap of $67.14 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 2.18 and a beta of 0.77.
General Dynamics (NYSE:GD – Get Free Report) last issued its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.17. General Dynamics had a return on equity of 17.13% and a net margin of 7.97%. The company had revenue of $10.57 billion for the quarter, compared to the consensus estimate of $10.05 billion. During the same quarter in the prior year, the business earned $3.26 EPS. General Dynamics’s revenue was up 6.0% on a year-over-year basis. Equities research analysts anticipate that General Dynamics Co. will post 12.59 earnings per share for the current year.
Insiders Place Their Bets
In other news, VP Gregory S. Gallopoulos sold 33,200 shares of the company’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $238.37, for a total transaction of $7,913,884.00. Following the completion of the transaction, the vice president now directly owns 113,319 shares of the company’s stock, valued at approximately $27,011,850.03. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.52% of the stock is owned by company insiders.
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.
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