Icon Wealth Advisors LLC Increases Position in General Dynamics Co. (NYSE:GD)

Icon Wealth Advisors LLC increased its position in shares of General Dynamics Co. (NYSE:GD) by 3.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,276 shares of the aerospace company’s stock after purchasing an additional 118 shares during the period. Icon Wealth Advisors LLC’s holdings in General Dynamics were worth $990,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. MFA Wealth Advisors LLC raised its holdings in General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 58 shares in the last quarter. Hara Capital LLC acquired a new stake in General Dynamics during the 3rd quarter worth $26,000. American Capital Advisory LLC purchased a new stake in General Dynamics in the second quarter valued at $29,000. Lowe Wealth Advisors LLC acquired a new position in General Dynamics in the third quarter valued at $30,000. Finally, Atlantic Edge Private Wealth Management LLC grew its holdings in shares of General Dynamics by 120.0% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 110 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher J. Brady sold 5,540 shares of General Dynamics stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the sale, the vice president now directly owns 20,296 shares of the company’s stock, valued at $5,701,349.36. The trade was a 21.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is owned by corporate insiders.

General Dynamics Trading Up 0.6 %

Shares of GD stock opened at $284.06 on Friday. General Dynamics Co. has a fifty-two week low of $245.01 and a fifty-two week high of $316.90. 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 business has a fifty day simple moving average of $298.17 and a 200-day simple moving average of $295.56. The stock has a market cap of $78.11 billion, a P/E ratio of 21.63, a P/E/G ratio of 1.71 and a beta of 0.61.

General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. 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% on a year-over-year basis. On average, analysts forecast that General Dynamics Co. will post 13.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Citigroup raised their target price on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Wells Fargo & Company raised their price objective on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Finally, Barclays upped their target price on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $323.69.

General Dynamics Company 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.