Rockefeller Capital Management L.P. Boosts Stake in General Dynamics Co. (NYSE:GD)

Rockefeller Capital Management L.P. raised its position in shares of General Dynamics Co. (NYSE:GD) by 9.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,682 shares of the aerospace company’s stock after buying an additional 9,813 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in General Dynamics were worth $35,860,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GD. Tidal Investments LLC raised its stake in General Dynamics by 7.8% during the first quarter. Tidal Investments LLC now owns 4,704 shares of the aerospace company’s stock valued at $1,329,000 after purchasing an additional 340 shares in the last quarter. Cetera Investment Advisers grew its position in General Dynamics by 291.4% in the first quarter. Cetera Investment Advisers now owns 96,539 shares of the aerospace company’s stock worth $27,271,000 after acquiring an additional 71,871 shares in the last quarter. Cetera Advisors LLC increased its stake in General Dynamics by 102.8% during the first quarter. Cetera Advisors LLC now owns 22,163 shares of the aerospace company’s stock worth $6,261,000 after acquiring an additional 11,236 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in General Dynamics by 83.4% during the first quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the aerospace company’s stock valued at $376,000 after purchasing an additional 596 shares during the period. Finally, Transcend Capital Advisors LLC lifted its stake in shares of General Dynamics by 4.8% in the 2nd quarter. Transcend Capital Advisors LLC now owns 9,993 shares of the aerospace company’s stock valued at $2,899,000 after purchasing an additional 458 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

General Dynamics Price Performance

Shares of GD opened at $284.06 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. The company has a 50 day moving average price of $298.17 and a 200-day moving average price of $295.56. General Dynamics Co. has a fifty-two week low of $245.01 and a fifty-two week high of $316.90. The stock has a market capitalization of $78.11 billion, a PE ratio of 21.63, a PEG ratio of 1.71 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $11.65 billion. During the same quarter in the prior year, the company earned $3.04 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. Equities analysts predict that General Dynamics Co. will post 13.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on GD. Royal Bank of Canada increased their price target on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Barclays increased their target price on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Citigroup lifted their price target on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $323.69.

Insider Buying and Selling at General Dynamics

In other news, VP Christopher J. Brady sold 5,540 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the completion of the sale, 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 is accessible through this hyperlink. Also, Director Peter A. Wall sold 1,320 shares of the business’s stock in a transaction 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 transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is owned by insiders.

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.