Healthcare of Ontario Pension Plan Trust Fund Buys New Shares in General Dynamics Co. (NYSE:GD)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of General Dynamics Co. (NYSE:GD) in the 3rd quarter, Holdings Channel reports. The fund purchased 18,100 shares of the aerospace company’s stock, valued at approximately $5,470,000.

A number of other hedge funds have also recently bought and sold shares of the stock. MFA Wealth Advisors LLC grew its stake in shares of General Dynamics by 241.7% in the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock valued at $25,000 after buying an additional 58 shares in the last quarter. Hara Capital LLC bought a new position in shares of General Dynamics in the 3rd quarter valued at about $26,000. American Capital Advisory LLC bought a new stake in shares of General Dynamics in the 2nd quarter valued at about $29,000. Lowe Wealth Advisors LLC acquired a new stake in General Dynamics in the 3rd quarter valued at about $30,000. Finally, Atlantic Edge Private Wealth Management LLC grew its holdings in General Dynamics by 120.0% during the second quarter. Atlantic Edge Private Wealth Management LLC now owns 110 shares of the aerospace company’s stock worth $32,000 after purchasing an additional 60 shares during the period. 86.14% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Seaport Res Ptn cut shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Royal Bank of Canada lifted their target price on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Sanford C. Bernstein decreased their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft cut 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 report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $323.69.

Insider Activity at General Dynamics

In related news, VP Christopher J. Brady sold 5,540 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $280.91, for a total transaction of $1,556,241.40. Following the sale, the vice president now owns 20,296 shares in the company, valued at $5,701,349.36. The trade was a 21.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Peter A. Wall sold 1,320 shares of the 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 transaction, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is owned by insiders.

General Dynamics Stock Performance

Shares of NYSE:GD opened at $284.06 on Friday. General Dynamics Co. has a 1 year low of $245.01 and a 1 year high of $316.90. The stock has a market capitalization of $78.11 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 1.71 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. The company’s 50 day simple moving average is $298.17 and its 200 day simple moving average is $295.56.

General Dynamics (NYSE:GD) last released 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 business 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 business’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.04 EPS. As a group, research analysts predict that General Dynamics Co. will post 13.98 EPS for the current fiscal year.

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.