Dearborn Partners LLC Purchases 173 Shares of General Dynamics Co. (NYSE:GD)

Dearborn Partners LLC grew its holdings in General Dynamics Co. (NYSE:GD) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,065 shares of the aerospace company’s stock after acquiring an additional 173 shares during the quarter. Dearborn Partners LLC’s holdings in General Dynamics were worth $17,245,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. CIBC Asset Management Inc raised its stake in General Dynamics by 10.9% in the third quarter. CIBC Asset Management Inc now owns 56,517 shares of the aerospace company’s stock valued at $17,069,000 after purchasing an additional 5,536 shares in the last quarter. Intellectus Partners LLC bought a new position in General Dynamics in the 3rd quarter valued at approximately $695,000. Balboa Wealth Partners acquired a new stake in shares of General Dynamics during the 3rd quarter valued at $212,000. ING Groep NV grew its holdings in shares of General Dynamics by 12.7% during the third quarter. ING Groep NV now owns 34,489 shares of the aerospace company’s stock worth $10,423,000 after purchasing an additional 3,895 shares during the last quarter. Finally, Lummis Asset Management LP increased its stake in shares of General Dynamics by 32.6% in the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock valued at $3,133,000 after buying an additional 2,551 shares during the period. 86.14% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Trading Down 6.9 %

General Dynamics stock opened at $292.42 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. General Dynamics Co. has a fifty-two week low of $243.87 and a fifty-two week high of $316.90. The stock has a market cap of $80.41 billion, a P/E ratio of 22.27, a PEG ratio of 1.90 and a beta of 0.61. The firm’s fifty day moving average price is $302.64 and its 200-day moving average price is $296.23.

General Dynamics (NYSE:GD) last issued its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 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 analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.04 EPS. Equities research analysts forecast that General Dynamics Co. will post 13.97 earnings per share for the current fiscal year.

Insider Activity

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 shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Royal Bank of Canada boosted their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Barclays lifted their target price on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. TD Cowen raised General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective 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. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.