General Dynamics Corporation $GD Holdings Raised by Red Cedar Investment Management LLC

Red Cedar Investment Management LLC lifted its position in shares of General Dynamics Corporation (NYSE:GD) by 36.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,900 shares of the aerospace company’s stock after buying an additional 2,637 shares during the quarter. Red Cedar Investment Management LLC’s holdings in General Dynamics were worth $3,285,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in General Dynamics during the 2nd quarter worth about $6,840,590,000. State Street Corp increased its position in General Dynamics by 3.3% during the 2nd quarter. State Street Corp now owns 11,811,099 shares of the aerospace company’s stock valued at $4,183,964,000 after purchasing an additional 374,682 shares during the period. Bank of America Corp DE purchased a new position in General Dynamics during the 2nd quarter valued at about $2,603,527,000. Sanders Capital LLC raised its holdings in shares of General Dynamics by 0.3% in the 3rd quarter. Sanders Capital LLC now owns 3,555,708 shares of the aerospace company’s stock valued at $1,179,891,000 after purchasing an additional 9,552 shares in the last quarter. Finally, Corient Private Wealth LP raised its holdings in shares of General Dynamics by 806.3% in the 2nd quarter. Corient Private Wealth LP now owns 1,661,702 shares of the aerospace company’s stock valued at $588,641,000 after purchasing an additional 1,478,353 shares in the last quarter. Hedge funds and other institutional investors own 86.14% of the company’s stock.

General Dynamics Stock Performance

Shares of General Dynamics stock opened at $361.94 on Tuesday. The company has a market capitalization of $97.80 billion, a PE ratio of 21.29, a P/E/G ratio of 2.06 and a beta of 0.30. The company has a 50-day simple moving average of $349.41 and a two-hundred day simple moving average of $355.04. General Dynamics Corporation has a one year low of $306.77 and a one year high of $400.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.94 and a current ratio of 1.43.

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GD. Wells Fargo & Company upped their price target on shares of General Dynamics from $400.00 to $440.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. TD Cowen cut their price objective on shares of General Dynamics from $420.00 to $380.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Robert W. Baird set a $430.00 price objective on shares of General Dynamics in a research note on Thursday, July 30th. Weiss Ratings restated a “buy (b)” rating on shares of General Dynamics in a report on Monday, September 28th. Finally, Wall Street Zen cut General Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $408.94.

Insider Buying and Selling

In other General Dynamics news, Director Robert K. Steel sold 7,440 shares of General Dynamics stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $346.05, for a total value of $2,574,612.00. Following the transaction, the director directly owned 3,096 shares of the company’s stock, valued at approximately $1,071,370.80. The trade was a 70.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Phebe N. Novakovic sold 45,353 shares of General Dynamics 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 completion of the transaction, the chief executive officer directly owned 766,457 shares in the company, valued at $277,012,888.94. This represents a 5.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.40% of the company’s stock.

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.