Cerity Partners LLC Purchases 15,823 Shares of General Dynamics Co. (NYSE:GD)

Cerity Partners LLC raised its stake in shares of General Dynamics Co. (NYSE:GD) by 29.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 69,525 shares of the aerospace company’s stock after purchasing an additional 15,823 shares during the period. Cerity Partners LLC’s holdings in General Dynamics were worth $21,010,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in shares of General Dynamics by 40,389.3% in the 3rd quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock valued at $416,876,000 after purchasing an additional 1,376,065 shares during the period. 1832 Asset Management L.P. increased its stake in General Dynamics by 2,189.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock valued at $108,572,000 after purchasing an additional 357,861 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in General Dynamics by 4.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,639,758 shares of the aerospace company’s stock valued at $2,216,599,000 after purchasing an additional 293,316 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of General Dynamics by 24.2% in the second quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock valued at $391,119,000 after purchasing an additional 262,164 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its holdings in General Dynamics by 174.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 384,151 shares of the aerospace company’s stock worth $111,458,000 after acquiring an additional 244,373 shares during the last quarter. 86.14% of the stock is currently owned by institutional investors.

General Dynamics Stock Performance

NYSE GD opened at $281.81 on Monday. The firm has a market cap of $77.49 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.69 and a beta of 0.61. General Dynamics Co. has a 12-month low of $243.87 and a 12-month high of $316.90. The company has a 50-day simple moving average of $300.44 and a two-hundred day simple moving average of $296.02. 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 announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). The firm had revenue of $11.67 billion for the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.04 EPS. On average, equities analysts forecast that General Dynamics Co. will post 13.98 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on GD shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research note on Friday, November 1st. TD Cowen upgraded shares of General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Citigroup lifted their price target on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company upped their target price 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. Finally, Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $323.69.

Insider Activity

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.52% of the company’s stock.

General Dynamics Company Profile

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.