Huntington National Bank Boosts Holdings in General Dynamics Co. (NYSE:GD)

Huntington National Bank raised its holdings in General Dynamics Co. (NYSE:GD) by 7.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,488 shares of the aerospace company’s stock after purchasing an additional 1,311 shares during the period. Huntington National Bank’s holdings in General Dynamics were worth $5,587,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. MFA Wealth Advisors LLC lifted its stake in General Dynamics by 241.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after buying an additional 58 shares in the last quarter. Hara Capital LLC purchased a new stake in shares of General Dynamics in the third quarter valued at $26,000. New Covenant Trust Company N.A. acquired a new stake in shares of General Dynamics during the first quarter valued at $29,000. American Capital Advisory LLC purchased a new stake in General Dynamics during the 2nd quarter worth about $29,000. Finally, Lowe Wealth Advisors LLC acquired a new position in General Dynamics in the 3rd quarter valued at about $30,000. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Trading Down 6.9 %

Shares of GD stock opened at $292.42 on Friday. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32. General Dynamics Co. has a fifty-two week low of $243.87 and a fifty-two week high of $316.90. The firm’s 50 day moving average price is $302.64 and its two-hundred day moving average price is $296.23. The stock has a market cap of $80.41 billion, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 1.90 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its earnings results 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). 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 for the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the previous year, the firm posted $3.04 EPS. The business’s revenue was up 10.4% compared to the same quarter last year. On average, analysts anticipate that General Dynamics Co. will post 13.97 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GD shares. Sanford C. Bernstein lowered their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Wells Fargo & Company lifted their target price 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. 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 note on Thursday, October 24th. Susquehanna lifted their price objective on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Finally, Barclays increased their target price on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and an average target price of $323.69.

Insider Transactions at General Dynamics

In related 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 sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 26.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.52% of the company’s stock.

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.