Connor Clark & Lunn Investment Management Ltd. Boosts Stake in General Dynamics Co. (NYSE:GD)

Connor Clark & Lunn Investment Management Ltd. increased its position in General Dynamics Co. (NYSE:GD) by 795.7% in the third quarter, HoldingsChannel reports. The firm owned 30,479 shares of the aerospace company’s stock after purchasing an additional 27,076 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in General Dynamics were worth $9,211,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. MFA Wealth Advisors LLC boosted its holdings 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 valued at $25,000 after buying an additional 58 shares in the last quarter. Hara Capital LLC bought a new stake in General Dynamics during the third quarter worth about $26,000. American Capital Advisory LLC purchased a new stake in General Dynamics in the second quarter worth about $29,000. Lowe Wealth Advisors LLC purchased a new position in shares of General Dynamics during the third quarter valued at approximately $30,000. Finally, New Covenant Trust Company N.A. purchased a new position in shares of General Dynamics during the first quarter valued at approximately $29,000. 86.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GD. Barclays raised their price objective on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. TD Cowen raised General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein cut their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Citigroup lifted their target price on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Susquehanna raised their price target on shares of General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Seven research 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $323.69.

Insider Activity at General Dynamics

In related news, Director Peter A. Wall sold 1,320 shares of the 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 sale, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.52% of the stock is owned by company insiders.

General Dynamics Trading Down 0.1 %

General Dynamics stock opened at $279.70 on Friday. The business has a 50-day simple moving average of $300.90 and a two-hundred day simple moving average of $296.05. General Dynamics Co. has a 52-week low of $243.87 and a 52-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 company has a market cap of $76.91 billion, a P/E ratio of 21.30, a P/E/G ratio of 1.70 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 EPS 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 analysts’ expectations of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.04 earnings per share. Analysts predict that General Dynamics Co. will post 13.98 EPS for the current year.

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.