Claro Advisors LLC Boosts Stock Position in General Dynamics Co. (NYSE:GD)

Claro Advisors LLC raised its holdings in General Dynamics Co. (NYSE:GD) by 5.7% during the third quarter, Holdings Channel reports. The institutional investor owned 4,799 shares of the aerospace company’s stock after buying an additional 260 shares during the period. Claro Advisors LLC’s holdings in General Dynamics were worth $1,450,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GD. MFA Wealth Advisors LLC lifted its stake in General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 58 shares during the last quarter. Hara Capital LLC purchased a new stake in shares of General Dynamics during the 3rd quarter worth approximately $26,000. New Covenant Trust Company N.A. acquired a new position in shares of General Dynamics in the 1st quarter valued at $29,000. American Capital Advisory LLC purchased a new position in shares of General Dynamics in the 2nd quarter valued at $29,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in General Dynamics during the 3rd quarter worth $30,000. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.52% of the company’s stock.

General Dynamics Price Performance

Shares of NYSE:GD opened at $287.99 on Friday. General Dynamics Co. has a 52 week low of $243.87 and a 52 week high of $316.90. The company has a 50-day moving average price of $302.45 and a 200 day moving average price of $296.27. The company has a market cap of $79.19 billion, a P/E ratio of 21.93, a PEG ratio of 1.74 and a beta of 0.61. The company has a quick ratio of 0.80, a current ratio of 1.32 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same period in the prior year, the business earned $3.04 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. Research analysts predict that General Dynamics Co. will post 13.98 earnings per share for the current year.

Wall Street Analyst Weigh In

GD has been the topic of several research reports. Royal Bank of Canada raised their price objective on General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen raised General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Citigroup increased their price objective on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $293.00 to $345.00 in a report on Friday, August 9th. Finally, Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $323.69.

About General Dynamics

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.