Chicago Partners Investment Group LLC lifted its holdings in General Dynamics Co. (NYSE:GD) by 100.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,400 shares of the aerospace company’s stock after buying an additional 1,200 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in General Dynamics were worth $401,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of GD. Bank of Montreal Can purchased a new stake in shares of General Dynamics in the second quarter worth approximately $258,844,000. Cornerstone Wealth Management LLC raised its holdings in shares of General Dynamics by 1,393.1% in the third quarter. Cornerstone Wealth Management LLC now owns 658,951 shares of the aerospace company’s stock worth $3,086,000 after buying an additional 614,817 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of General Dynamics by 29.0% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,243,297 shares of the aerospace company’s stock worth $418,173,000 after buying an additional 504,326 shares during the period. Levin Capital Strategies L.P. purchased a new position in General Dynamics during the 2nd quarter worth $68,282,000. Finally, Chevy Chase Trust Holdings Inc. purchased a new position in General Dynamics during the 2nd quarter worth $43,807,000. Hedge funds and other institutional investors own 85.84% of the company’s stock.

In other news, insider S. Daniel Johnson sold 77,810 shares of General Dynamics stock in a transaction on Friday, September 14th. The stock was sold at an average price of $199.85, for a total value of $15,550,328.50. Following the transaction, the insider now directly owns 99,333 shares in the company, valued at approximately $19,851,700.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark Malcolm purchased 3,000 shares of the business’s stock in a transaction dated Friday, October 26th. The stock was bought at an average price of $169.87 per share, for a total transaction of $509,610.00. Following the completion of the acquisition, the director now directly owns 4,455 shares in the company, valued at approximately $756,770.85. The disclosure for this purchase can be found here. Company insiders own 6.70% of the company’s stock.

GD has been the topic of several research reports. Argus reduced their price objective on General Dynamics from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Zacks Investment Research downgraded General Dynamics from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Robert W. Baird reduced their price objective on General Dynamics from $243.00 to $222.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Wells Fargo & Co reduced their price objective on General Dynamics from $250.00 to $210.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Finally, Credit Suisse Group reduced their price objective on General Dynamics from $229.00 to $216.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $231.00.

Shares of NYSE:GD opened at $184.50 on Friday. General Dynamics Co. has a 12-month low of $164.76 and a 12-month high of $230.00. The firm has a market capitalization of $54.80 billion, a PE ratio of 17.04, a P/E/G ratio of 1.47 and a beta of 0.98. The company has a current ratio of 1.27, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89.

General Dynamics (NYSE:GD) last announced its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $2.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.76 by $0.13. General Dynamics had a return on equity of 27.22% and a net margin of 9.01%. The business had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $9.41 billion. During the same period last year, the business posted $2.52 EPS. The business’s revenue was up 20.0% compared to the same quarter last year. On average, equities research analysts forecast that General Dynamics Co. will post 11.3 EPS for the current year.

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About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.

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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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