General Dynamics Corporation $GD Shares Bought by Sanders Capital LLC

Key Points

• Sanders Capital increased its General Dynamics stake by 0.3%, adding 9,552 shares and ending the quarter with 3.56 million shares worth about $1.18 billion.
• General Dynamics beat quarterly estimates, reporting EPS of $4.49 versus $4.12 expected and revenue of $14.57 billion versus $13.72 billion; revenue rose 12.9% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $408.94. Shares recently traded at $353.88, down 0.7% on the day.

Sanders Capital LLC raised its position in shares of General Dynamics Corporation (NYSE:GD - Free Report) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,555,708 shares of the aerospace company's stock after buying an additional 9,552 shares during the period. General Dynamics comprises about 1.2% of Sanders Capital LLC's holdings, making the stock its 29th largest holding. Sanders Capital LLC owned about 1.31% of General Dynamics worth $1,179,891,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Caisse de depot et placement du Quebec boosted its position in General Dynamics by 454.0% in the 2nd quarter. Caisse de depot et placement du Quebec now owns 180,917 shares of the aerospace company's stock valued at $64,088,000 after buying an additional 148,262 shares during the period. Empowered Funds LLC acquired a new position in shares of General Dynamics in the second quarter worth $21,368,000. United Capital Financial Advisors LLC purchased a new stake in shares of General Dynamics during the second quarter worth $30,781,000. Professional Advisory Services Inc. increased its position in shares of General Dynamics by 4.0% during the second quarter. Professional Advisory Services Inc. now owns 67,028 shares of the aerospace company's stock worth $23,744,000 after acquiring an additional 2,562 shares during the period. Finally, FSA Advisors Inc. purchased a new stake in shares of General Dynamics during the second quarter worth $1,254,000. 86.14% of the stock is owned by institutional investors and hedge funds.

General Dynamics Stock Down 0.7%

Shares of GD traded down $2.47 during midday trading on Friday, reaching $353.88. The stock had a trading volume of 1,219,081 shares, compared to its average volume of 1,308,360. General Dynamics Corporation has a 1-year low of $306.77 and a 1-year high of $400.00. The company's fifty day simple moving average is $349.76 and its two-hundred day simple moving average is $355.05. The company has a market cap of $95.63 billion, a price-to-earnings ratio of 20.82, a PEG ratio of 2.15 and a beta of 0.30. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 0.94.

General Dynamics (NYSE:GD - Get Free Report) last released its quarterly earnings data on Friday, October 30th. The aerospace company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.12 by $0.37. The business had revenue of $14.57 billion during the quarter, compared to analysts' expectations of $13.72 billion. General Dynamics had a net margin of 8.24% and a return on equity of 17.60%. The company's revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.88 EPS. Equities research analysts expect that General Dynamics Corporation will post 17.29 earnings per share for the current year.

Insider Transactions at General Dynamics

In other General Dynamics news, Director Robert K. Steel sold 7,440 shares of General Dynamics stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $346.05, for a total transaction of $2,574,612.00. Following the completion of the sale, the director directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GD. Citigroup increased their price objective on General Dynamics from $374.00 to $400.00 and gave the company a "neutral" rating in a research note on Monday, November 2nd. Sanford C. Bernstein upped their price target on General Dynamics from $365.00 to $386.00 and gave the stock a "market perform" rating in a report on Tuesday. UBS Group upped their price target on General Dynamics from $395.00 to $408.00 and gave the stock a "neutral" rating in a report on Tuesday, September 8th. Wells Fargo & Company increased their price target on General Dynamics from $400.00 to $440.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. Finally, Robert W. Baird set a $430.00 price objective on General Dynamics in a research note on Thursday, July 30th. Eleven 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 company's stock. Based on data from MarketBeat.com, General Dynamics currently has an average rating of "Moderate Buy" and an average price target of $408.94.

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.

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