General Dynamics Corporation $GD Stake Lifted by Sanders Capital LLC

Sanders Capital LLC grew its stake in General Dynamics Corporation (NYSE:GD) by 0.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,555,708 shares of the aerospace company’s stock after purchasing an additional 9,552 shares during the period. General Dynamics accounts for 1.2% of Sanders Capital LLC’s portfolio, making the stock its 29th biggest position. Sanders Capital LLC’s holdings in General Dynamics were worth $1,179,891,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in General Dynamics during the 2nd quarter worth $6,840,590,000. State Street Corp boosted its stake in General Dynamics by 3.3% in the second quarter. State Street Corp now owns 11,811,099 shares of the aerospace company’s stock valued at $4,183,964,000 after acquiring an additional 374,682 shares in the last quarter. Bank of America Corp DE acquired a new position in General Dynamics in the second quarter valued at $2,603,527,000. Corient Private Wealth LP grew its holdings in shares of General Dynamics by 806.3% during the second quarter. Corient Private Wealth LP now owns 1,661,702 shares of the aerospace company’s stock worth $588,641,000 after purchasing an additional 1,478,353 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of General Dynamics by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,579,959 shares of the aerospace company’s stock worth $542,274,000 after purchasing an additional 28,249 shares during the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Robert K. Steel sold 7,440 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $346.05, for a total value of $2,574,612.00. Following the transaction, the director owned 3,096 shares in the company, valued at $1,071,370.80. The trade was a 70.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on GD. UBS Group boosted their target price on General Dynamics from $395.00 to $408.00 and gave the company a “neutral” rating in a report on Tuesday, September 8th. TD Cowen decreased their target price on General Dynamics from $420.00 to $380.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Morgan Stanley raised their price target on General Dynamics from $465.00 to $480.00 and gave the stock an “overweight” rating in a research note on Tuesday. Royal Bank Of Canada lifted their price target on General Dynamics from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Monday, November 2nd. Finally, Wall Street Zen cut General Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Eleven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $408.94.

General Dynamics Stock Performance

NYSE:GD traded down $2.47 during trading hours on Friday, reaching $353.88. 1,219,081 shares of the company’s stock were exchanged, compared to its average volume of 1,308,360. General Dynamics Corporation has a 1-year low of $306.77 and a 1-year high of $400.00. The company has a quick ratio of 0.94, a current ratio of 1.43 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $95.63 billion, a price-to-earnings ratio of 20.82, a P/E/G ratio of 2.15 and a beta of 0.30. The company has a 50-day moving average of $349.76 and a 200 day moving average of $355.05.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Friday, October 30th. The aerospace company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.12 by $0.37. General Dynamics had a net margin of 8.24% and a return on equity of 17.60%. The company had revenue of $14.57 billion for the quarter, compared to analyst estimates of $13.72 billion. During the same period in the previous year, the business posted $3.88 earnings per share. General Dynamics’s quarterly revenue was up 12.9% on a year-over-year basis. Research analysts anticipate that General Dynamics Corporation will post 17.29 EPS for the current year.

General Dynamics Profile

General Dynamics Corporation is an aerospace and defense company that develops and manufactures products and provides services for commercial, government and military customers. Its businesses span aerospace, marine systems, combat systems and defense technologies.

The company makes Gulfstream business jets and provides aircraft services. Its marine systems operations design and build submarines and surface ships, while its combat systems business produces military vehicles, weapons systems and munitions.