Zurcher Kantonalbank Zurich Cantonalbank Has $17.50 Million Position in General Dynamics Co. (NYSE:GD)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of General Dynamics Co. (NYSE:GD) by 7.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 57,899 shares of the aerospace company’s stock after purchasing an additional 4,024 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in General Dynamics were worth $17,497,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. MFA Wealth Advisors LLC lifted its position in shares of 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 purchasing an additional 58 shares during the last quarter. Hara Capital LLC acquired a new position in shares of General Dynamics during the third quarter worth approximately $26,000. American Capital Advisory LLC bought a new stake in shares of General Dynamics in the second quarter valued at approximately $29,000. Lowe Wealth Advisors LLC acquired a new stake in shares of General Dynamics in the third quarter worth $30,000. Finally, Atlantic Edge Private Wealth Management LLC increased its position in 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 acquiring an additional 60 shares during the period. Institutional investors own 86.14% of the company’s stock.

General Dynamics Trading Up 0.6 %

Shares of GD stock opened at $284.01 on Friday. The company has a market capitalization of $78.09 billion, a P/E ratio of 21.63, a P/E/G ratio of 1.71 and a beta of 0.61. General Dynamics Co. has a 12-month low of $245.01 and a 12-month 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 firm has a 50-day moving average price of $298.17 and a 200 day moving average price of $295.57.

General Dynamics (NYSE:GD) last posted 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). The firm had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.04 EPS. Research analysts forecast that General Dynamics Co. will post 13.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Peter A. Wall sold 1,320 shares of the business’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 value of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares in the company, valued at $1,106,515.60. The trade was a 26.87 % decrease in their position. The transaction was disclosed in a document filed 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 on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value 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. This trade represents a 21.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Barclays increased 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. Wells Fargo & Company boosted their price target on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Citigroup raised their price objective on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Seven investment 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’s stock. According to data from MarketBeat, General Dynamics presently has an average 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.