Chevy Chase Trust Holdings LLC Has $42.20 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

Chevy Chase Trust Holdings LLC increased its position in General Dynamics Co. (NYSE:GD) by 11.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 139,657 shares of the aerospace company’s stock after purchasing an additional 14,149 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in General Dynamics were worth $42,204,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GD. DNB Asset Management AS acquired a new stake in General Dynamics during the 2nd quarter worth approximately $265,000. Lynx Investment Advisory acquired a new position in shares of General Dynamics in the 2nd quarter valued at approximately $37,000. Park Avenue Securities LLC raised its position in General Dynamics by 13.6% during the second quarter. Park Avenue Securities LLC now owns 9,570 shares of the aerospace company’s stock valued at $2,777,000 after purchasing an additional 1,149 shares in the last quarter. NBC Securities Inc. lifted its position in shares of General Dynamics by 6.6% during the 2nd quarter. NBC Securities Inc. now owns 8,645 shares of the aerospace company’s stock worth $2,508,000 after buying an additional 538 shares during the last quarter. Finally, Simplicity Wealth LLC lifted its holdings in shares of General Dynamics by 9.5% in the second quarter. Simplicity Wealth LLC now owns 7,438 shares of the aerospace company’s stock worth $2,158,000 after acquiring an additional 647 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Activity at General Dynamics

In other General Dynamics news, VP Christopher J. Brady sold 5,540 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the transaction, the vice president now owns 20,296 shares in the company, valued at approximately $5,701,349.36. This represents a 21.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The shares were 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 currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GD. Wells Fargo & Company boosted their price target on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a report on Friday, October 11th. Sanford C. Bernstein dropped their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Citigroup increased their target price on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Morgan Stanley raised General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Seven research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $323.69.

General Dynamics Trading Down 2.7 %

NYSE:GD opened at $276.33 on Tuesday. The business has a fifty day moving average price of $298.17 and a 200-day moving average price of $295.58. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. General Dynamics Co. has a one year low of $247.36 and a one year high of $316.90. The firm has a market capitalization of $75.98 billion, a price-to-earnings ratio of 21.05, a price-to-earnings-growth ratio of 1.72 and a beta of 0.60.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. During the same period last year, the firm posted $3.04 EPS. General Dynamics’s quarterly revenue was up 10.4% compared to the same quarter last year. Sell-side analysts forecast that General Dynamics Co. will post 13.98 EPS for the current year.

General Dynamics 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.