Deseret Mutual Benefit Administrators Boosts Stock Position in General Dynamics Co. (NYSE:GD)

Deseret Mutual Benefit Administrators raised its stake in shares of General Dynamics Co. (NYSE:GD) by 20.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 776 shares of the aerospace company’s stock after buying an additional 130 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in General Dynamics were worth $235,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in GD. Signaturefd LLC grew its position in General Dynamics by 3.2% during the 1st quarter. Signaturefd LLC now owns 4,707 shares of the aerospace company’s stock valued at $1,330,000 after purchasing an additional 147 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of General Dynamics by 8.7% during the first quarter. Geneos Wealth Management Inc. now owns 2,961 shares of the aerospace company’s stock valued at $837,000 after acquiring an additional 238 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in General Dynamics by 0.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 46,934 shares of the aerospace company’s stock worth $13,258,000 after acquiring an additional 165 shares during the last quarter. Advisory Services Network LLC lifted its position in General Dynamics by 6.2% in the 1st quarter. Advisory Services Network LLC now owns 25,231 shares of the aerospace company’s stock valued at $7,128,000 after acquiring an additional 1,475 shares in the last quarter. Finally, Empirical Finance LLC boosted its stake in General Dynamics by 3.4% during the 1st quarter. Empirical Finance LLC now owns 8,238 shares of the aerospace company’s stock valued at $2,327,000 after purchasing an additional 274 shares during the last quarter. 86.14% of the stock is owned by institutional investors.

General Dynamics Price Performance

NYSE:GD opened at $308.45 on Thursday. The stock has a market cap of $84.81 billion, a PE ratio of 23.49, a P/E/G ratio of 1.78 and a beta of 0.61. 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 business’s 50-day simple moving average is $301.25 and its two-hundred day simple moving average is $295.38. General Dynamics Co. has a 52 week low of $238.31 and a 52 week high of $313.11.

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 the consensus estimate of $3.48 by ($0.13). The business had revenue of $11.67 billion during the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.04 earnings per share. As a group, analysts forecast that General Dynamics Co. will post 13.97 EPS for the current fiscal year.

Insider Activity at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GD. TD Cowen raised General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Barclays lifted their price target on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Royal Bank of Canada raised their target price on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Finally, Citigroup lifted their price objective on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Seven research 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 stock. According to MarketBeat, General Dynamics has a consensus rating of “Moderate Buy” and a consensus price target of $323.69.

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.