Chase Investment Counsel Corp Makes New Investment in General Dynamics Co. (NYSE:GD)

Chase Investment Counsel Corp purchased a new position in General Dynamics Co. (NYSE:GD) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,796 shares of the aerospace company’s stock, valued at approximately $844,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of GD. MFA Wealth Advisors LLC grew its holdings in General Dynamics by 241.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after acquiring an additional 58 shares in the last quarter. Hara Capital LLC acquired a new stake in General Dynamics during the third quarter valued at approximately $26,000. New Covenant Trust Company N.A. bought a new position in General Dynamics during the 1st quarter worth approximately $29,000. American Capital Advisory LLC bought a new stake in shares of General Dynamics in the 2nd quarter valued at approximately $29,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in shares of General Dynamics during the 3rd quarter valued at approximately $30,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

General Dynamics Stock Down 0.6 %

Shares of NYSE:GD opened at $312.12 on Wednesday. General Dynamics Co. has a 12 month low of $243.52 and a 12 month high of $315.93. The firm has a market cap of $85.82 billion, a P/E ratio of 23.77, a P/E/G ratio of 1.90 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $302.25 and its two-hundred day moving average price is $296.11.

General Dynamics (NYSE:GD) last posted 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 return on equity of 16.59% and a net margin of 7.90%. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.04 EPS. As a group, research analysts forecast that General Dynamics Co. will post 13.97 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Barclays boosted their target price on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Royal Bank of Canada increased their price target on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Susquehanna upped their price target on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Sanford C. Bernstein dropped their price target on shares of 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. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to 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.