Great Valley Advisor Group Inc. Purchases 12,504 Shares of General Dynamics Co. (NYSE:GD)

Great Valley Advisor Group Inc. grew its position in General Dynamics Co. (NYSE:GD) by 1,123.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,617 shares of the aerospace company’s stock after acquiring an additional 12,504 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in General Dynamics were worth $4,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of GD. Fifth Third Wealth Advisors LLC lifted its stake in shares of General Dynamics by 67.6% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock valued at $2,583,000 after purchasing an additional 3,448 shares during the last quarter. Olstein Capital Management L.P. lifted its position in General Dynamics by 36.4% in the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock worth $4,533,000 after buying an additional 4,000 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in General Dynamics by 10.0% during the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock worth $11,204,000 after buying an additional 3,363 shares during the period. Lummis Asset Management LP increased its position in General Dynamics by 32.6% during the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock valued at $3,133,000 after acquiring an additional 2,551 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of General Dynamics by 0.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 588,619 shares of the aerospace company’s stock valued at $177,881,000 after acquiring an additional 5,069 shares during the period. 86.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on GD. Royal Bank of Canada upped their price target on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Seaport Res Ptn cut General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Citigroup raised their price target on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company upped their price objective on General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Finally, Barclays lifted 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 investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $323.69.

General Dynamics Price Performance

Shares of GD stock opened at $281.81 on Friday. The stock’s 50-day moving average is $300.44 and its 200 day moving average is $296.00. General Dynamics Co. has a 1-year low of $243.87 and a 1-year high of $316.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The company has a market cap of $77.49 billion, a P/E ratio of 21.46, a PEG ratio of 1.69 and a beta of 0.61.

General Dynamics (NYSE:GD) last released 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 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 firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.04 earnings per share. Research analysts predict that General Dynamics Co. will post 13.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was 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 owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.52% of the company’s stock.

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.