Brooklyn Investment Group Makes New $269,000 Investment in General Dynamics Co. (NYSE:GD)

Brooklyn Investment Group purchased a new stake in General Dynamics Co. (NYSE:GD) during the third quarter, Holdings Channel reports. The firm purchased 892 shares of the aerospace company’s stock, valued at approximately $269,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. MFA Wealth Advisors LLC increased its position in shares of General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 58 shares in the last quarter. Hara Capital LLC purchased a new position in General Dynamics during the 3rd quarter worth $26,000. New Covenant Trust Company N.A. acquired a new position in General Dynamics during the 1st quarter valued at about $29,000. American Capital Advisory LLC purchased a new stake in General Dynamics in the second quarter valued at about $29,000. Finally, Lowe Wealth Advisors LLC purchased a new stake in shares of General Dynamics during the third quarter worth about $30,000. Hedge funds and other institutional investors own 86.14% of the company’s stock.

Insider Activity at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $280.91, for a total value of $1,556,241.40. Following the completion of the sale, the vice president now owns 20,296 shares of the company’s stock, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction of $406,626.00. Following the sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The trade was a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

General Dynamics Stock Performance

Shares of NYSE:GD opened at $282.01 on Wednesday. The business’s 50 day moving average price is $299.47 and its 200-day moving average price is $295.82. 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 firm has a market capitalization of $77.54 billion, a PE ratio of 21.48, 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). The business had revenue of $11.67 billion for the quarter, compared to analyst estimates 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 period last year, the firm earned $3.04 EPS. As a group, equities research analysts expect that General Dynamics Co. will post 13.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on GD. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $293.00 to $345.00 in a research report on Friday, August 9th. Seaport Res Ptn downgraded shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Susquehanna upped their target price on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft dropped their price target on General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Finally, Sanford C. Bernstein reduced their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, General Dynamics has an average rating of “Moderate Buy” and an average target price of $323.69.

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.