Rhumbline Advisers Has $95.41 Million Stake in General Dynamics Co. (GD)

Rhumbline Advisers grew its stake in General Dynamics Co. (NYSE:GD) by 4.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 466,062 shares of the aerospace company’s stock after buying an additional 20,131 shares during the quarter. Rhumbline Advisers’ holdings in General Dynamics were worth $95,412,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GD. United Asset Strategies Inc. increased its stake in shares of General Dynamics by 54.2% in the 3rd quarter. United Asset Strategies Inc. now owns 39,046 shares of the aerospace company’s stock valued at $7,993,000 after purchasing an additional 13,718 shares in the last quarter. Ffcm LLC increased its stake in shares of General Dynamics by 504.1% in the 3rd quarter. Ffcm LLC now owns 53,032 shares of the aerospace company’s stock valued at $126,000 after purchasing an additional 44,253 shares in the last quarter. Capital Analysts LLC increased its stake in shares of General Dynamics by 6.3% in the 3rd quarter. Capital Analysts LLC now owns 6,512 shares of the aerospace company’s stock valued at $1,333,000 after purchasing an additional 387 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of General Dynamics by 8.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 46,525 shares of the aerospace company’s stock valued at $9,525,000 after purchasing an additional 3,704 shares in the last quarter. Finally, Roundview Capital LLC purchased a new position in shares of General Dynamics in the 3rd quarter valued at about $220,000. 85.58% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:GD opened at $179.84 on Thursday. The company has a quick ratio of 0.87, a current ratio of 1.27 and a debt-to-equity ratio of 0.89. General Dynamics Co. has a fifty-two week low of $164.76 and a fifty-two week high of $230.00. The stock has a market cap of $53.61 billion, a P/E ratio of 18.07, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.13. The company had revenue of $9.09 billion during the quarter, compared to analyst estimates of $9.41 billion. General Dynamics had a net margin of 9.01% and a return on equity of 27.22%. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.52 EPS. On average, equities analysts expect that General Dynamics Co. will post 11.3 earnings per share for the current fiscal year.

In other General Dynamics news, Director Mark Malcolm purchased 3,000 shares of the company’s stock in a transaction dated Friday, October 26th. The shares were bought at an average price of $169.87 per share, for a total transaction of $509,610.00. Following the purchase, the director now directly owns 4,455 shares in the company, valued at approximately $756,770.85. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Patrick Casey sold 22,500 shares of the stock in a transaction on Monday, October 15th. The stock was sold at an average price of $193.28, for a total transaction of $4,348,800.00. Following the transaction, the insider now owns 118,555 shares in the company, valued at approximately $22,914,310.40. The disclosure for this sale can be found here. 6.90% of the stock is owned by corporate insiders.

A number of equities research analysts have recently issued reports on GD shares. Morgan Stanley dropped their price target on General Dynamics from $209.00 to $189.00 and set an “underweight” rating for the company in a research report on Wednesday. Argus decreased their price objective on General Dynamics from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Stifel Nicolaus decreased their price target on General Dynamics from $210.00 to $200.00 and set a “hold” rating on the stock in a research note on Friday, October 26th. Credit Suisse Group reduced their price objective on General Dynamics from $229.00 to $216.00 and set an “outperform” rating on the stock in a research note on Thursday, October 25th. Finally, Robert W. Baird reduced their price objective on General Dynamics from $243.00 to $222.00 and set an “outperform” rating on the stock in a research note on Thursday, October 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $230.00.

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General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.

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

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