General Dynamics Co. (NYSE:GD) is Lummis Asset Management LP’s 7th Largest Position

Lummis Asset Management LP boosted its position in shares of General Dynamics Co. (NYSE:GD) by 32.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,368 shares of the aerospace company’s stock after acquiring an additional 2,551 shares during the quarter. General Dynamics makes up about 3.7% of Lummis Asset Management LP’s portfolio, making the stock its 7th biggest position. Lummis Asset Management LP’s holdings in General Dynamics were worth $3,133,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Coston McIsaac & Partners grew its holdings in General Dynamics by 22.8% during the 3rd quarter. Coston McIsaac & Partners now owns 178 shares of the aerospace company’s stock valued at $53,000 after purchasing an additional 33 shares during the last quarter. Global X Japan Co. Ltd. grew its stake in General Dynamics by 2.3% in the 3rd quarter. Global X Japan Co. Ltd. now owns 1,482 shares of the aerospace company’s stock worth $448,000 after acquiring an additional 33 shares in the last quarter. Grove Bank & Trust grew its stake in General Dynamics by 10.6% in the 3rd quarter. Grove Bank & Trust now owns 354 shares of the aerospace company’s stock worth $107,000 after acquiring an additional 34 shares in the last quarter. Trueblood Wealth Management LLC grew its stake in General Dynamics by 1.6% in the 3rd quarter. Trueblood Wealth Management LLC now owns 2,223 shares of the aerospace company’s stock worth $672,000 after acquiring an additional 34 shares in the last quarter. Finally, Modera Wealth Management LLC grew its stake in General Dynamics by 0.4% in the 2nd quarter. Modera Wealth Management LLC now owns 8,120 shares of the aerospace company’s stock worth $2,356,000 after acquiring an additional 35 shares in the last quarter. 86.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company upped their target price on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Citigroup upped their target price on shares of General Dynamics from $331.00 to $354.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Royal Bank of Canada upped their price target on shares of General Dynamics from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Barclays upped their price target on shares of General Dynamics from $325.00 to $330.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $323.69.

Insider Buying and Selling at General Dynamics

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total transaction of $406,626.00. Following the transaction, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.52% of the stock is currently owned by company insiders.

General Dynamics Stock Down 0.5 %

NYSE:GD traded down $1.44 during midday trading on Thursday, reaching $312.59. 33,270 shares of the stock traded hands, compared to its average volume of 1,088,233. General Dynamics Co. has a 12-month low of $243.87 and a 12-month high of $316.90. The business has a 50-day moving average of $302.64 and a two-hundred day moving average of $296.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.80 and a current ratio of 1.32. The stock has a market capitalization of $85.95 billion, a PE ratio of 23.76, a price-to-earnings-growth ratio of 1.89 and a beta of 0.61.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a net margin of 7.90% and a return on equity of 16.59%. The company had revenue of $11.67 billion for the quarter, compared to analyst estimates of $11.65 billion. During the same quarter in the previous year, the company posted $3.04 EPS. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities analysts forecast that General Dynamics Co. will post 13.97 earnings per share for the current fiscal year.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.