Kentucky Retirement Systems Insurance Trust Fund Increases Position in General Dynamics Co. (NYSE:GD)

Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of General Dynamics Co. (NYSE:GD) by 4.1% in the third quarter, HoldingsChannel.com reports. The fund owned 7,635 shares of the aerospace company’s stock after acquiring an additional 302 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in General Dynamics were worth $2,307,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. MFA Wealth Advisors LLC lifted its position in General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after purchasing an additional 58 shares during the period. Hara Capital LLC purchased a new position in shares of General Dynamics during the 3rd quarter valued at about $26,000. New Covenant Trust Company N.A. acquired a new position in shares of General Dynamics in the 1st quarter valued at about $29,000. American Capital Advisory LLC purchased a new stake in shares of General Dynamics in the second quarter worth about $29,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in General Dynamics during the third quarter worth about $30,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction dated 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 directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.52% of the company’s stock.

General Dynamics Trading Down 1.5 %

Shares of GD stock opened at $287.99 on Friday. General Dynamics Co. has a fifty-two week low of $243.87 and a fifty-two week high of $316.90. The firm has a market capitalization of $79.19 billion, a P/E ratio of 21.93, a PEG ratio of 1.90 and a beta of 0.61. The stock’s fifty day moving average is $302.45 and its two-hundred day moving average is $296.27. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The business had revenue of $11.67 billion for the quarter, compared to analyst estimates 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 was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.04 earnings per share. Research analysts expect that General Dynamics Co. will post 13.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GD has been the topic of several recent research reports. Royal Bank of Canada upped their price objective on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Sanford C. Bernstein lowered 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 report on Thursday, October 24th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $293.00 to $345.00 in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Finally, Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, General Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $323.69.

General Dynamics 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.