Acorn Financial Advisory Services Inc. ADV purchased a new stake in General Dynamics Co. (NYSE:GD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,650 shares of the aerospace company’s stock, valued at approximately $1,702,000. General Dynamics accounts for 1.4% of Acorn Financial Advisory Services Inc. ADV’s investment portfolio, making the stock its 10th biggest position.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Patriot Investment Management Inc. grew its holdings in General Dynamics by 3.0% during the third quarter. Patriot Investment Management Inc. now owns 1,948 shares of the aerospace company’s stock worth $340,000 after purchasing an additional 57 shares during the period. G&S Capital LLC grew its holdings in General Dynamics by 10.5% during the third quarter. G&S Capital LLC now owns 642 shares of the aerospace company’s stock worth $117,000 after purchasing an additional 61 shares during the period. Wetherby Asset Management Inc. grew its holdings in General Dynamics by 1.5% during the third quarter. Wetherby Asset Management Inc. now owns 4,160 shares of the aerospace company’s stock worth $760,000 after purchasing an additional 62 shares during the period. Regentatlantic Capital LLC grew its holdings in General Dynamics by 0.5% during the third quarter. Regentatlantic Capital LLC now owns 14,648 shares of the aerospace company’s stock worth $2,677,000 after purchasing an additional 68 shares during the period. Finally, Douglass Winthrop Advisors LLC grew its holdings in General Dynamics by 0.8% during the third quarter. Douglass Winthrop Advisors LLC now owns 9,106 shares of the aerospace company’s stock worth $1,664,000 after purchasing an additional 69 shares during the period. 86.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:GD traded down $2.45 during trading on Monday, reaching $182.62. 18,128 shares of the stock were exchanged, compared to its average volume of 1,151,251. General Dynamics Co. has a 12 month low of $160.21 and a 12 month high of $193.76. The firm has a market cap of $53.54 billion, a PE ratio of 15.83, a PEG ratio of 1.67 and a beta of 1.14. The stock has a 50-day moving average price of $180.27 and a 200-day moving average price of $182.56. The company has a current ratio of 1.11, a quick ratio of 0.74 and a debt-to-equity ratio of 0.67.
In other news, EVP Mark C. Roualet sold 50,195 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $181.78, for a total transaction of $9,124,447.10. Following the completion of the sale, the executive vice president now owns 169,443 shares in the company, valued at $30,801,348.54. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 7.10% of the company’s stock.
A number of equities analysts recently commented on the company. Morgan Stanley lifted their price target on General Dynamics from $172.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, December 12th. ValuEngine cut General Dynamics from a “hold” rating to a “sell” rating in a report on Friday, December 20th. Barclays reiterated a “buy” rating and set a $220.00 price target on shares of General Dynamics in a report on Thursday. Finally, Cowen reiterated a “buy” rating and set a $215.00 price target on shares of General Dynamics in a report on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $198.99.
About General Dynamics
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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