General Dynamics Corporation $GD Stock Bought by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners Investment Group increased its General Dynamics stake by 32.2% in the third quarter, adding 2,823 shares to hold 11,588 shares valued at about $4.05 million.
• General Dynamics beat quarterly earnings and revenue expectations, reporting EPS of $4.49 and revenue of $14.57 billion; revenue rose 12.9% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $408.94. A company director also sold 7,440 shares in September.

Chicago Partners Investment Group LLC raised its holdings in General Dynamics Corporation (NYSE:GD - Free Report) by 32.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,588 shares of the aerospace company's stock after buying an additional 2,823 shares during the period. Chicago Partners Investment Group LLC's holdings in General Dynamics were worth $4,048,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Oxford Financial Group LTD. LLC raised its stake in shares of General Dynamics by 1.9% in the second quarter. Oxford Financial Group LTD. LLC now owns 1,426 shares of the aerospace company's stock valued at $505,000 after acquiring an additional 26 shares in the last quarter. Willner & Heller LLC grew its stake in General Dynamics by 1.4% during the 2nd quarter. Willner & Heller LLC now owns 2,050 shares of the aerospace company's stock worth $726,000 after purchasing an additional 28 shares in the last quarter. Meriwether Wealth & Planning LLC grew its stake in General Dynamics by 0.8% during the 2nd quarter. Meriwether Wealth & Planning LLC now owns 3,443 shares of the aerospace company's stock worth $1,220,000 after purchasing an additional 28 shares in the last quarter. Capital Advisors Inc. OK increased its holdings in General Dynamics by 0.6% during the 2nd quarter. Capital Advisors Inc. OK now owns 4,551 shares of the aerospace company's stock worth $1,612,000 after purchasing an additional 29 shares during the period. Finally, Klingman & Associates LLC increased its holdings in General Dynamics by 3.3% during the 1st quarter. Klingman & Associates LLC now owns 949 shares of the aerospace company's stock worth $326,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 86.14% of the company's stock.

General Dynamics Stock Down 2.2%

General Dynamics stock opened at $356.85 on Friday. General Dynamics Corporation has a 1-year low of $306.77 and a 1-year high of $400.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.43 and a quick ratio of 0.94. The stock has a market cap of $96.43 billion, a PE ratio of 21.46, a P/E/G ratio of 2.06 and a beta of 0.30. The stock's fifty day moving average is $350.29 and its two-hundred day moving average is $355.08.

General Dynamics (NYSE:GD - Get Free Report) last announced its quarterly 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. The company had revenue of $14.57 billion during the quarter, compared to the consensus estimate of $13.72 billion. General Dynamics had a return on equity of 17.60% and a net margin of 8.24%. General Dynamics's revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.88 EPS. On average, sell-side analysts expect that General Dynamics Corporation will post 17.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GD has been the topic of a number of analyst reports. 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. BNP Paribas Exane boosted their price objective on General Dynamics from $390.00 to $430.00 and gave the stock an "outperform" rating in a research report on Thursday, July 30th. Wall Street Zen lowered shares of General Dynamics from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Royal Bank Of Canada raised their target price on shares of General Dynamics from $360.00 to $400.00 and gave the company a "sector perform" rating in a report on Monday. Finally, UBS Group boosted their price target on shares of General Dynamics from $395.00 to $408.00 and gave the stock a "neutral" rating in a report on Tuesday, September 8th. 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's stock. According to MarketBeat, General Dynamics currently has a consensus rating of "Moderate Buy" and an average target price of $408.94.

Insider Activity at General Dynamics

In other news, Director Robert K. Steel sold 7,440 shares of the firm's 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 sale, the director owned 3,096 shares of the company's stock, valued at approximately $1,071,370.80. This trade represents a 70.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.40% of the company's stock.

General Dynamics Profile

General Dynamics Corporation NYSE: GD is a global aerospace and defense company that develops, manufactures and supports products and services for government and commercial customers. Its operations serve the U.S. government, allied nations and other customers worldwide, with a significant focus on national security, military modernization and mission support.

The company operates through four primary business areas. Aerospace provides Gulfstream business jets and related aircraft services through Gulfstream Aerospace, as well as aircraft management, charter, maintenance and completions services through Jet Aviation.

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