Meridian Wealth Management LLC Purchases Shares of 4,063 General Dynamics Co. (NYSE:GD)

Meridian Wealth Management LLC acquired a new stake in shares of General Dynamics Co. (NYSE:GD) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 4,063 shares of the aerospace company’s stock, valued at approximately $1,228,000.

Several other large investors have also modified their holdings of GD. Coston McIsaac & Partners grew its position in General Dynamics by 22.8% during the third quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after acquiring an additional 33 shares during the period. Global X Japan Co. Ltd. grew its holdings in shares of General Dynamics by 2.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock worth $448,000 after purchasing an additional 33 shares during the period. Grove Bank & Trust increased its position in General Dynamics by 10.6% during the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after purchasing an additional 34 shares in the last quarter. Trueblood Wealth Management LLC raised its holdings in General Dynamics by 1.6% in the third quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock valued at $672,000 after buying an additional 34 shares during the period. Finally, Modera Wealth Management LLC lifted its position in General Dynamics by 0.4% during the second quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock valued at $2,356,000 after buying an additional 35 shares in the last quarter. 86.14% of the stock is currently 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 that occurred on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.52% of the stock is owned by corporate insiders.

General Dynamics Trading Up 0.7 %

NYSE GD opened at $281.81 on Friday. The company has a market capitalization of $77.49 billion, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 1.69 and a beta of 0.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. General Dynamics Co. has a 12 month low of $243.87 and a 12 month high of $316.90. The company’s fifty day moving average price is $300.44 and its two-hundred day moving average price is $296.00.

General Dynamics (NYSE:GD) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.04 earnings per share. As a group, research analysts predict that General Dynamics Co. will post 13.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GD has been the subject of several recent research reports. Sanford C. Bernstein dropped their price objective on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company boosted their price objective on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Royal Bank of Canada increased their target price on General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Susquehanna boosted their price target on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Finally, TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $323.69.

General Dynamics 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.