Bridgewater Associates LP boosted its holdings in General Dynamics Co. (NYSE:GD) by 50.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 15,135 shares of the aerospace company’s stock after acquiring an additional 5,086 shares during the quarter. Bridgewater Associates LP’s holdings in General Dynamics were worth $3,098,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. CSat Investment Advisory L.P. bought a new position in General Dynamics in the second quarter valued at about $101,000. Zions Bancorporation bought a new position in General Dynamics in the third quarter valued at about $109,000. Fort L.P. bought a new position in General Dynamics in the second quarter valued at about $117,000. Ruggie Capital Group bought a new position in General Dynamics in the second quarter valued at about $122,000. Finally, Ffcm LLC raised its position in General Dynamics by 504.1% in the third quarter. Ffcm LLC now owns 53,032 shares of the aerospace company’s stock valued at $126,000 after purchasing an additional 44,253 shares during the last quarter. 86.38% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on the company. UBS Group assumed coverage on General Dynamics in a research report on Wednesday, August 15th. They issued a “neutral” rating and a $210.00 target price for the company. Argus dropped their target price on General Dynamics from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Drexel Hamilton reiterated a “buy” rating and issued a $230.00 target price on shares of General Dynamics in a research report on Thursday, August 16th. Stifel Nicolaus dropped their target price on General Dynamics from $210.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, October 26th. Finally, Citigroup dropped their target price on General Dynamics from $210.00 to $195.00 and set a “neutral” rating for the company in a research report on Thursday, October 25th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $230.00.
General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 24th. The aerospace company reported $2.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.76 by $0.13. General Dynamics had a return on equity of 27.22% and a net margin of 9.01%. The company had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $9.41 billion. During the same period last year, the company earned $2.52 earnings per share. The firm’s revenue was up 20.0% compared to the same quarter last year. On average, research analysts anticipate that General Dynamics Co. will post 11.3 EPS for the current fiscal year.
In other news, insider S. Daniel Johnson sold 77,810 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $199.85, for a total transaction of $15,550,328.50. Following the completion of the transaction, the insider now directly owns 99,333 shares in the company, valued at $19,851,700.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark Malcolm acquired 3,000 shares of the stock in a transaction dated Friday, October 26th. The shares were bought at an average price of $169.87 per share, with a total value of $509,610.00. Following the completion of the transaction, the director now directly owns 4,455 shares of the company’s stock, valued at $756,770.85. The disclosure for this purchase can be found here. 6.90% of the stock is owned by company insiders.
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About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
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