Fifth Third Wealth Advisors LLC Has $2.58 Million Stock Position in General Dynamics Co. (NYSE:GD)

Fifth Third Wealth Advisors LLC boosted its position in General Dynamics Co. (NYSE:GD) by 67.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,546 shares of the aerospace company’s stock after acquiring an additional 3,448 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in General Dynamics were worth $2,583,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other General Dynamics news, Director Peter A. Wall sold 1,320 shares of the 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 completion of the sale, the director now owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by corporate insiders.

General Dynamics Stock Performance

Shares of GD stock opened at $286.00 on Tuesday. The business’s 50-day moving average price is $302.14 and its 200-day moving average price is $296.33. General Dynamics Co. has a 12 month low of $243.87 and a 12 month high of $316.90. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $78.64 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.74 and a beta of 0.61.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). The business had revenue of $11.67 billion for the quarter, compared to the consensus estimate of $11.65 billion. General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The company’s revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.04 earnings per share. Equities research analysts forecast that General Dynamics Co. will post 13.98 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of General Dynamics from $320.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Wells Fargo & Company raised their price objective on General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Susquehanna boosted their price target on General Dynamics from $333.00 to $352.00 and gave the company a “positive” rating in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein decreased their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $323.69.

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.