Icon Wealth Advisors LLC Has $3.97 Million Stock Position in General Dynamics Co. (NYSE:GD)

Icon Wealth Advisors LLC grew its stake in General Dynamics Co. (NYSE:GD) by 316.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 13,142 shares of the aerospace company’s stock after acquiring an additional 9,984 shares during the quarter. Icon Wealth Advisors LLC’s holdings in General Dynamics were worth $3,972,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. MFA Wealth Advisors LLC raised 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 acquiring an additional 58 shares in the last quarter. Hara Capital LLC acquired a new stake in shares of General Dynamics during the 3rd quarter worth about $26,000. American Capital Advisory LLC bought a new position in General Dynamics during the 2nd quarter valued at about $29,000. Lowe Wealth Advisors LLC acquired a new position in General Dynamics in the third quarter valued at about $30,000. Finally, New Covenant Trust Company N.A. bought a new stake in General Dynamics during the first quarter worth about $29,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Performance

GD stock opened at $279.70 on Friday. 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 Co. has a twelve month low of $243.87 and a twelve month high of $316.90. The business’s fifty day moving average is $300.90 and its 200-day moving average is $296.05. The company has a market cap of $76.91 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 1.70 and a beta of 0.61.

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

Insider Activity at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction dated Monday, September 16th. The stock was 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 directly owns 3,592 shares in the company, valued at $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GD. Citigroup lifted their target price on shares of General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Susquehanna increased their target price on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Barclays raised their target price on General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company increased their price objective on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.