Sei Investments Co. raised its stake in General Dynamics Corp. (NYSE:GD) by 21.1% during the third quarter, Holdings Channel reports. The firm owned 160,532 shares of the company’s stock after buying an additional 28,014 shares during the period. Sei Investments Co.’s holdings in General Dynamics Corp. were worth $24,909,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Waters Parkerson & CO. LLC acquired a new position in General Dynamics Corp. during the second quarter valued at approximately $355,000. Bridgeway Capital Management Inc. increased its position in shares of General Dynamics Corp. by 9.1% in the second quarter. Bridgeway Capital Management Inc. now owns 185,159 shares of the company’s stock valued at $25,782,000 after buying an additional 15,500 shares during the last quarter. RS Investment Management Co. LLC purchased a new position in shares of General Dynamics Corp. during the second quarter valued at approximately $23,540,000. Foundry Partners LLC increased its position in shares of General Dynamics Corp. by 9.0% in the third quarter. Foundry Partners LLC now owns 94,102 shares of the company’s stock valued at $14,601,000 after buying an additional 7,786 shares during the last quarter. Finally, Polaris Greystone Financial Group LLC purchased a new position in shares of General Dynamics Corp. during the second quarter valued at approximately $13,381,000. 87.01% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for General Dynamics Corp. (NYSE:GD)

Shares of General Dynamics Corp. (NYSE:GD) traded up 0.35% during trading on Wednesday, reaching $175.75. 389,571 shares of the company were exchanged. The company has a market capitalization of $53.42 billion, a price-to-earnings ratio of 18.81 and a beta of 0.69. General Dynamics Corp. has a 1-year low of $121.61 and a 1-year high of $175.80. The stock’s 50 day moving average is $157.43 and its 200 day moving average is $149.31.

General Dynamics Corp. (NYSE:GD) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $2.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.38 by $0.10. The business earned $7.73 billion during the quarter, compared to analyst estimates of $7.91 billion. General Dynamics Corp. had a net margin of 9.45% and a return on equity of 27.68%. The company’s revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.28 earnings per share. Equities analysts anticipate that General Dynamics Corp. will post $9.77 earnings per share for the current year.

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Several research analysts have commented on GD shares. Jefferies Group reissued a “buy” rating on shares of General Dynamics Corp. in a report on Wednesday, August 3rd. Argus raised their price target on shares of General Dynamics Corp. from $160.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, August 2nd. Citigroup Inc. raised their price target on shares of General Dynamics Corp. from $162.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, September 6th. Vertical Research started coverage on shares of General Dynamics Corp. in a report on Friday, October 28th. They issued a “buy” rating and a $176.00 price target for the company. Finally, Zacks Investment Research raised shares of General Dynamics Corp. from a “hold” rating to a “buy” rating and set a $168.00 price target for the company in a report on Friday, October 28th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. General Dynamics Corp. currently has an average rating of “Buy” and a consensus target price of $161.37.

In other General Dynamics Corp. news, insider Robert W. Helm sold 149,910 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $152.43, for a total value of $22,850,781.30. Following the completion of the transaction, the insider now directly owns 108,119 shares in the company, valued at $16,480,579.17. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert W. Helm sold 87,790 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $150.91, for a total transaction of $13,248,388.90. Following the completion of the transaction, the insider now owns 157,176 shares of the company’s stock, valued at $23,719,430.16. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by company insiders.

General Dynamics Corp. Company Profile

General Dynamics Corporation is an aerospace and defense company that offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) solutions and information technology (IT) services, and shipbuilding.

5 Day Chart for NYSE:GD

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