General Dynamics Corporation $GD Stock: Lido Advisors LLC Increases Position

Lido Advisors LLC lifted its position in shares of General Dynamics Corporation (NYSE:GD) by 9.8% during the third quarter, Holdings Channel reports. The firm owned 85,561 shares of the aerospace company’s stock after acquiring an additional 7,655 shares during the period. Lido Advisors LLC’s holdings in General Dynamics were worth $28,392,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Altus USA Inc. lifted its holdings in General Dynamics by 77.8% during the second quarter. Wellington Altus USA Inc. now owns 80 shares of the aerospace company’s stock worth $27,000 after acquiring an additional 35 shares during the period. Downshift Financial LLC grew its stake in General Dynamics by 134.3% in the 3rd quarter. Downshift Financial LLC now owns 82 shares of the aerospace company’s stock valued at $27,000 after purchasing an additional 47 shares during the period. Morton Brown Family Wealth LLC grew its stake in General Dynamics by 182.8% in the 3rd quarter. Morton Brown Family Wealth LLC now owns 82 shares of the aerospace company’s stock valued at $27,000 after purchasing an additional 53 shares during the period. Paladin Partners LLC bought a new position in General Dynamics in the 2nd quarter valued at $30,000. Finally, John Boyer Inc. purchased a new stake in shares of General Dynamics during the 3rd quarter valued at $28,000. 86.14% of the stock is currently owned by hedge funds and other institutional investors.

General Dynamics Price Performance

General Dynamics stock opened at $367.50 on Wednesday. The business’s 50 day simple moving average is $349.32 and its 200 day simple moving average is $355.05. General Dynamics Corporation has a 12 month low of $306.77 and a 12 month high of $400.00. The company has a market cap of $99.31 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 2.04 and a beta of 0.30. The company has a current ratio of 1.43, a quick ratio of 0.94 and a debt-to-equity ratio of 0.23.

General Dynamics (NYSE:GD) last released its earnings results on Friday, October 30th. The aerospace company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.12 by $0.37. General Dynamics had a return on equity of 17.60% and a net margin of 8.24%. The business had revenue of $14.57 billion during the quarter, compared to the consensus estimate of $13.72 billion. During the same period last year, the business posted $3.88 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. Sell-side analysts forecast that General Dynamics Corporation will post 17.29 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GD shares. Robert W. Baird set a $430.00 target price on General Dynamics in a research note on Thursday, July 30th. Sanford C. Bernstein increased their price target on shares of General Dynamics from $365.00 to $386.00 and gave the company a “market perform” rating in a research report on Tuesday, November 3rd. Jefferies Financial Group restated a “buy” rating and set a $455.00 price target on shares of General Dynamics in a research report on Monday, November 2nd. Wall Street Zen downgraded shares of General Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $384.00 price objective on shares of General Dynamics in a research report on Thursday, July 30th. Eleven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $408.94.

Insiders Place Their Bets

In other news, CEO Phebe Novakovic sold 45,353 shares of the company’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $361.42, for a total transaction of $16,391,481.26. Following the transaction, the chief executive officer owned 766,457 shares of the company’s stock, valued at $277,012,888.94. This represents a 5.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert K. Steel sold 7,440 shares of the stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $346.05, for a total value of $2,574,612.00. Following the transaction, the director owned 3,096 shares of the company’s stock, valued at $1,071,370.80. The trade was a 70.62% decrease in their position. The SEC filing for this sale provides additional information. 1.40% of the stock is owned by corporate insiders.

Key General Dynamics News

Here are the key news stories impacting General Dynamics this week:

• Positive Sentiment: Technical momentum: GD crossed above its 200-day moving average, a level the report describes as resistance; the move may signal a more bullish longer-term trend. Article: General Dynamics crossed above the 200-day moving average
• Positive Sentiment: Growth outlook: A recap of GD’s Q3 earnings call characterized its signals as pointing to stronger growth ahead. The company’s latest reported quarter also beat earnings and revenue estimates, with revenue up 12.9% year over year. Article: General Dynamics earnings call signals stronger growth ahead
• Positive Sentiment: Growth-stock screening: Zacks highlighted GD as a strong growth stock using its Style Scores, adding to the positive growth narrative. Article: Why General Dynamics is a strong growth stock
• Negative Sentiment: Insider selling: CEO Phebe Novakovic sold 45,353 shares for about $16.4 million, reducing her direct stake by 5.59%. She still held 766,457 shares after the transaction; the sale may nevertheless raise investor caution. Article: General Dynamics CEO sells 45,353 shares

General Dynamics Company Profile

General Dynamics Corporation is an aerospace and defense company that develops and manufactures products and provides services for commercial, government and military customers. Its businesses span aerospace, marine systems, combat systems and defense technologies. The company makes Gulfstream business jets and provides aircraft services. Its marine systems operations design and build submarines and surface ships, while its combat systems business produces military vehicles, weapons systems and munitions.