General Dynamics Corporation $GD Stock Purchased by Ashton Thomas Private Wealth LLC

Key Points

• Ashton Thomas Private Wealth increased its General Dynamics stake by 96.3% in the third quarter, adding 2,821 shares to hold 5,751 shares valued at about $1.91 million.
• General Dynamics beat quarterly expectations, 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. The stock was reported up 2.2%, while CEO Phebe Novakovic sold 45,353 shares.

Ashton Thomas Private Wealth LLC grew its position in General Dynamics Corporation (NYSE:GD - Free Report) by 96.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,751 shares of the aerospace company's stock after buying an additional 2,821 shares during the period. Ashton Thomas Private Wealth LLC's holdings in General Dynamics were worth $1,908,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of General Dynamics in the 2nd quarter valued at approximately $6,840,590,000. State Street Corp boosted its stake in shares of General Dynamics by 3.3% in 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 buying an additional 374,682 shares during the period. Bank of America Corp DE acquired a new position in General Dynamics during the 2nd quarter worth approximately $2,603,527,000. Sanders Capital LLC lifted its holdings in General Dynamics by 0.3% during the 3rd quarter. Sanders Capital LLC now owns 3,555,708 shares of the aerospace company's stock worth $1,179,891,000 after buying an additional 9,552 shares during the last quarter. Finally, Corient Private Wealth LP lifted its stake in General Dynamics by 806.3% during the second quarter. Corient Private Wealth LP now owns 1,661,702 shares of the aerospace company's stock worth $588,641,000 after purchasing an additional 1,478,353 shares during the last quarter. Institutional investors and hedge funds own 86.14% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on GD shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $455.00 price objective on shares of General Dynamics in a report on Monday, November 2nd. Morgan Stanley raised their price objective on shares of General Dynamics from $465.00 to $480.00 and gave the company an "overweight" rating in a research report on Tuesday, November 3rd. BNP Paribas Exane upped their price target on shares of General Dynamics from $390.00 to $430.00 and gave the stock an "outperform" rating in a research note on Thursday, July 30th. Susquehanna lifted their price objective on General Dynamics from $420.00 to $455.00 and gave the stock a "positive" rating in a report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $384.00 price target on shares of General Dynamics in a report on Thursday, July 30th. Eleven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $408.94.

General Dynamics Trading Up 2.2%

NYSE GD opened at $361.94 on Tuesday. 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 company has a market cap of $97.80 billion, a P/E ratio of 21.46, a P/E/G ratio of 2.06 and a beta of 0.30. General Dynamics Corporation has a 12 month low of $306.77 and a 12 month high of $400.00. The company has a 50-day moving average of $349.41 and a 200-day moving average of $355.04.

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 for the quarter, beating analysts' consensus estimates of $4.12 by $0.37. The company had revenue of $14.57 billion for the quarter, compared to analyst estimates of $13.72 billion. General Dynamics had a net margin of 8.24% and a return on equity of 17.60%. General Dynamics's revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the business earned $3.88 EPS. As a group, equities analysts predict that General Dynamics Corporation will post 17.29 earnings per share for the current year.

Insider Transactions at General Dynamics

In related news, CEO Phebe Novakovic sold 45,353 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 766,457 shares in the company, valued at approximately $277,012,888.94. This trade represents a 5.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert K. Steel sold 7,440 shares of the firm's stock in a transaction dated 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 sale, the director owned 3,096 shares in the company, valued at approximately $1,071,370.80. The trade was a 70.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.40% of the company's stock.

About General Dynamics

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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