Penserra Capital Management LLC Buys 3,037 Shares of General Dynamics Co. (NYSE:GD)

Penserra Capital Management LLC grew its stake in shares of General Dynamics Co. (NYSE:GD) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 265,727 shares of the aerospace company’s stock after purchasing an additional 3,037 shares during the quarter. General Dynamics makes up about 1.7% of Penserra Capital Management LLC’s holdings, making the stock its 8th largest position. Penserra Capital Management LLC’s holdings in General Dynamics were worth $80,302,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC lifted its stake in General Dynamics by 40,389.3% during the third quarter. International Assets Investment Management LLC now owns 1,379,472 shares of the aerospace company’s stock worth $416,876,000 after purchasing an additional 1,376,065 shares during the last quarter. 1832 Asset Management L.P. lifted its position in shares of General Dynamics by 2,189.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 374,207 shares of the aerospace company’s stock worth $108,572,000 after buying an additional 357,861 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of General Dynamics by 4.0% in 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 buying an additional 293,316 shares during the period. Hsbc Holdings PLC grew its position in shares of General Dynamics by 24.2% during the 2nd quarter. Hsbc Holdings PLC now owns 1,347,247 shares of the aerospace company’s stock valued at $391,119,000 after buying an additional 262,164 shares during the last quarter. Finally, Westwood Holdings Group Inc. raised its stake in General Dynamics by 174.8% during the second 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 period. Institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Up 0.7 %

NYSE GD opened at $281.81 on Friday. The company has a market capitalization of $77.49 billion, a P/E 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 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 $300.44 and its 200 day simple moving average is $296.00.

General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 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 analyst estimates of $11.65 billion. General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. General Dynamics’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the company posted $3.04 EPS. Equities research analysts expect that General Dynamics Co. will post 13.98 earnings per share for the current fiscal year.

Insider Buying and Selling

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 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 approximately $1,106,515.60. This trade represents a 26.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.52% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GD shares. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft lowered their price objective on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Sanford C. Bernstein lowered their price target 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. Finally, Wells Fargo & Company lifted their price objective on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and an average target price of $323.69.

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.