Becker Capital Management Inc. Raises Stock Holdings in General Dynamics Co. (NYSE:GD)

Becker Capital Management Inc. raised its position in shares of General Dynamics Co. (NYSE:GD) by 0.6% during the 3rd quarter, Holdings Channel reports. The fund owned 114,848 shares of the aerospace company’s stock after purchasing an additional 716 shares during the period. Becker Capital Management Inc.’s holdings in General Dynamics were worth $22,514,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GD. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in General Dynamics by 1.5% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,458 shares of the aerospace company’s stock worth $651,000 after acquiring an additional 50 shares during the period. Assetmark Inc. grew its holdings in General Dynamics by 3.5% in the second quarter. Assetmark Inc. now owns 1,475 shares of the aerospace company’s stock valued at $278,000 after purchasing an additional 50 shares during the period. Greenleaf Trust grew its holdings in General Dynamics by 1.8% in the second quarter. Greenleaf Trust now owns 2,913 shares of the aerospace company’s stock valued at $548,000 after purchasing an additional 51 shares during the period. Loudon Investment Management LLC grew its holdings in General Dynamics by 1.4% in the second quarter. Loudon Investment Management LLC now owns 3,963 shares of the aerospace company’s stock valued at $746,000 after purchasing an additional 53 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in General Dynamics by 3.9% in the second quarter. Parkside Financial Bank & Trust now owns 1,395 shares of the aerospace company’s stock valued at $262,000 after purchasing an additional 53 shares during the period. 85.08% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics stock traded down $1.55 during trading on Thursday, reaching $198.74. 523,545 shares of the company were exchanged, compared to its average volume of 1,068,834. General Dynamics Co. has a 52-week low of $144.50 and a 52-week high of $210.21. The company has a market capitalization of $55.49 billion, a P/E ratio of 17.06, a PEG ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 1.10. The stock’s 50 day simple moving average is $200.79 and its two-hundred day simple moving average is $196.01.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 27th. The aerospace company reported $3.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.10. The company had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.86 billion. General Dynamics had a return on equity of 21.32% and a net margin of 8.55%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.90 earnings per share. As a group, equities analysts forecast that General Dynamics Co. will post 11.53 earnings per share for the current year.

Several analysts have commented on GD shares. Cowen reissued a “buy” rating on shares of General Dynamics in a report on Monday, August 9th. Credit Suisse Group raised their price objective on General Dynamics from $182.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, July 29th. The Goldman Sachs Group upgraded General Dynamics from a “sell” rating to a “neutral” rating and set a $176.00 target price on the stock in a research report on Thursday, September 23rd. Wells Fargo & Company upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $220.00 to $230.00 in a research report on Thursday, October 28th. Finally, Zacks Investment Research upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $208.00 target price on the stock in a research report on Thursday, August 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $213.91.

General Dynamics Company Profile

General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, and Marine Systems.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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