CI Investments Inc. purchased a new stake in General Dynamics Co. (NYSE:GD) in the third quarter, HoldingsChannel.com reports. The firm purchased 2,718 shares of the aerospace company’s stock, valued at approximately $376,000.
A number of other institutional investors have also added to or reduced their stakes in GD. Morgan Stanley boosted its position in shares of General Dynamics by 4.8% during the 1st quarter. Morgan Stanley now owns 1,118,194 shares of the aerospace company’s stock worth $147,947,000 after acquiring an additional 51,292 shares in the last quarter. CWM LLC increased its position in General Dynamics by 12.5% during the 2nd quarter. CWM LLC now owns 1,661 shares of the aerospace company’s stock worth $248,000 after purchasing an additional 185 shares during the period. Highland Capital Management LLC acquired a new position in General Dynamics during the 2nd quarter worth approximately $224,000. Retirement Systems of Alabama increased its position in General Dynamics by 1.5% during the 2nd quarter. Retirement Systems of Alabama now owns 140,069 shares of the aerospace company’s stock worth $20,935,000 after purchasing an additional 2,090 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in General Dynamics by 47.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 208,755 shares of the aerospace company’s stock worth $31,201,000 after purchasing an additional 67,631 shares during the period. Institutional investors own 84.98% of the company’s stock.
NYSE:GD opened at $148.36 on Friday. The business’s 50-day moving average is $141.97 and its two-hundred day moving average is $145.43. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.29 and a quick ratio of 0.90. General Dynamics Co. has a 12 month low of $100.55 and a 12 month high of $190.08. The firm has a market capitalization of $42.58 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 2.28 and a beta of 1.02.
General Dynamics (NYSE:GD) last released its quarterly earnings data on Wednesday, October 28th. The aerospace company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.85 by $0.05. General Dynamics had a return on equity of 23.00% and a net margin of 8.33%. Equities analysts anticipate that General Dynamics Co. will post 11.05 EPS for the current year.
A number of equities research analysts recently weighed in on the company. Credit Suisse Group lowered their price target on General Dynamics from $156.00 to $140.00 and set a “neutral” rating on the stock in a report on Thursday, October 29th. They noted that the move was a valuation call. Stifel Nicolaus lowered their price target on General Dynamics from $180.00 to $160.00 and set a “hold” rating on the stock in a report on Thursday, July 30th. ValuEngine cut General Dynamics from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Morgan Stanley assumed coverage on General Dynamics in a report on Tuesday, September 8th. They issued an “underweight” rating and a $163.00 price target on the stock. Finally, Argus cut General Dynamics from a “buy” rating to a “hold” rating in a report on Monday, August 3rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. General Dynamics presently has a consensus rating of “Hold” and a consensus target price of $172.38.
In other news, VP William A. Moss sold 4,778 shares of the firm’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $136.68, for a total transaction of $653,057.04. Following the completion of the sale, the vice president now directly owns 12,241 shares in the company, valued at $1,673,099.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William A. Moss sold 4,713 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $138.54, for a total value of $652,939.02. Following the sale, the vice president now owns 12,753 shares of the company’s stock, valued at $1,766,800.62. The disclosure for this sale can be found here. Company insiders own 6.60% of the company’s stock.
General Dynamics Profile
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.
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