General Dynamics Co. (NYSE:GD) Shares Bought by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC increased its stake in General Dynamics Co. (NYSE:GD) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,276 shares of the aerospace company’s stock after acquiring an additional 118 shares during the period. Icon Wealth Advisors LLC’s holdings in General Dynamics were worth $990,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Tidal Investments LLC raised its holdings in shares of General Dynamics by 7.8% in the 1st quarter. Tidal Investments LLC now owns 4,704 shares of the aerospace company’s stock worth $1,329,000 after purchasing an additional 340 shares during the period. Cetera Investment Advisers increased its position in General Dynamics by 291.4% during the 1st quarter. Cetera Investment Advisers now owns 96,539 shares of the aerospace company’s stock worth $27,271,000 after purchasing an additional 71,871 shares in the last quarter. Cetera Advisors LLC raised its holdings in General Dynamics by 102.8% in the first quarter. Cetera Advisors LLC now owns 22,163 shares of the aerospace company’s stock valued at $6,261,000 after buying an additional 11,236 shares during the period. EverSource Wealth Advisors LLC lifted 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 buying an additional 596 shares in the last quarter. Finally, Transcend Capital Advisors LLC grew its stake in General Dynamics by 4.8% during the second quarter. Transcend Capital Advisors LLC now owns 9,993 shares of the aerospace company’s stock worth $2,899,000 after buying an additional 458 shares during the period. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Stock Performance

Shares of GD stock opened at $284.06 on Friday. The stock has a market capitalization of $78.11 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.71 and a beta of 0.61. General Dynamics Co. has a one year low of $245.01 and a one year high of $316.90. The company’s 50-day simple moving average is $298.17 and its 200-day simple moving average is $295.56. 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 (NYSE:GD) last released its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS 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 firm had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. During the same period in the prior year, the business earned $3.04 EPS. The company’s quarterly revenue was up 10.4% on a year-over-year basis. Equities analysts anticipate that General Dynamics Co. will post 13.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Barclays boosted their price objective on General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Sanford C. Bernstein decreased their target price on General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada boosted their price target on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research report on Friday, November 1st. 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $323.69.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction that occurred on 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 directly owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher J. Brady sold 5,540 shares of the business’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 value of $1,556,241.40. Following the transaction, the vice president now owns 20,296 shares of the company’s stock, valued at $5,701,349.36. This represents a 21.44 % decrease in their position. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by corporate 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.