King Luther Capital Management Corp Has $6.93 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

King Luther Capital Management Corp boosted its holdings in shares of General Dynamics Co. (NYSE:GD) by 0.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,922 shares of the aerospace company’s stock after buying an additional 124 shares during the period. King Luther Capital Management Corp’s holdings in General Dynamics were worth $6,927,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of GD. Citizens Financial Group Inc. RI increased its holdings in shares of General Dynamics by 0.8% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 23,758 shares of the aerospace company’s stock valued at $7,180,000 after purchasing an additional 190 shares during the period. Moors & Cabot Inc. grew its position in General Dynamics by 21.9% during the third quarter. Moors & Cabot Inc. now owns 7,105 shares of the aerospace company’s stock valued at $2,147,000 after purchasing an additional 1,278 shares in the last quarter. Altman Advisors Inc. acquired a new position in General Dynamics in the 3rd quarter valued at approximately $1,963,000. First Horizon Advisors Inc. lifted its position in General Dynamics by 1.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 6,655 shares of the aerospace company’s stock worth $2,011,000 after buying an additional 81 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of General Dynamics by 795.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 30,479 shares of the aerospace company’s stock valued at $9,211,000 after acquiring an additional 27,076 shares in the last quarter. 86.14% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

General Dynamics Stock Down 0.1 %

General Dynamics stock opened at $279.70 on Friday. 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 fifty-two week low of $243.87 and a fifty-two week high of $316.90. The firm has a fifty day moving average price of $300.90 and a two-hundred day moving average price of $296.05. The firm has a market cap of $76.91 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 1.70 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted 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 business had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. General Dynamics’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.04 EPS. As a group, analysts forecast that General Dynamics Co. will post 13.98 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on GD. Susquehanna increased their price objective on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft reduced their price target on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a report on Friday, November 1st. Wells Fargo & Company increased their price objective on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. 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. Finally, Barclays increased their price target on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.