Meridian Wealth Management LLC Buys New Stake in General Dynamics Co. (NYSE:GD)

by · The Markets Daily

Meridian Wealth Management LLC purchased a new stake in General Dynamics Co. (NYSE:GD – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,063 shares of the aerospace company’s stock, valued at approximately $1,228,000.

Several other large investors also recently bought and sold shares of the stock. Fifth Third Wealth Advisors LLC increased its holdings in shares of General Dynamics by 67.6% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock valued at $2,583,000 after acquiring an additional 3,448 shares during the period. Olstein Capital Management L.P. increased its stake in General Dynamics by 36.4% in the third quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after purchasing an additional 4,000 shares during the period. Oppenheimer & Co. Inc. raised its holdings in shares of General Dynamics by 10.0% in the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock valued at $11,204,000 after buying an additional 3,363 shares during the last quarter. Lummis Asset Management LP boosted its stake in shares of General Dynamics by 32.6% during the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock worth $3,133,000 after buying an additional 2,551 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of General Dynamics by 0.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 588,619 shares of the aerospace company’s stock worth $177,881,000 after buying an additional 5,069 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company’s stock.

Insiders Place Their Bets

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the firm’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 sale, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This trade represents a 26.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.52% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GD shares. Deutsche Bank Aktiengesellschaft decreased their price objective on General Dynamics from $309.00 to $306.00 and set a “hold” rating for the company in a research report on Friday, November 1st. Citigroup increased their price target on General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Barclays boosted their price objective on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $293.00 to $345.00 in a research note on Friday, August 9th. Finally, Seaport Res Ptn lowered shares of General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, General Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $323.69.

View Our Latest Report on GD

General Dynamics Price Performance

General Dynamics stock opened at $281.81 on Friday. The firm has a market capitalization of $77.49 billion, a PE ratio of 21.46, a P/E/G ratio of 1.69 and a beta of 0.61. General Dynamics Co. has a 52 week low of $243.87 and a 52 week high of $316.90. The firm’s 50-day simple moving average is $300.44 and its 200 day simple moving average is $296.00. 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 – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The business had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. During the same period last year, the company earned $3.04 EPS. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. On average, equities research analysts predict that General Dynamics Co. will post 13.98 EPS for the current fiscal year.

About General Dynamics

(Free Report)

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.

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