Pacer Advisors Inc. Purchases 8,612 Shares of General Dynamics Co. (NYSE:GD)

Pacer Advisors Inc. increased its position in shares of General Dynamics Co. (NYSE:GD) by 35.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,674 shares of the aerospace company’s stock after buying an additional 8,612 shares during the period. Pacer Advisors Inc.’s holdings in General Dynamics were worth $9,874,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC increased its stake in shares of General Dynamics by 67.6% in the third quarter. Fifth Third Wealth Advisors LLC now owns 8,546 shares of the aerospace company’s stock worth $2,583,000 after purchasing an additional 3,448 shares during the period. Olstein Capital Management L.P. grew its holdings in General Dynamics by 36.4% in the 3rd quarter. Olstein Capital Management L.P. now owns 15,000 shares of the aerospace company’s stock valued at $4,533,000 after buying an additional 4,000 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of General Dynamics by 10.0% during the third quarter. Oppenheimer & Co. Inc. now owns 37,074 shares of the aerospace company’s stock worth $11,204,000 after buying an additional 3,363 shares during the last quarter. Lummis Asset Management LP boosted its position in shares of General Dynamics by 32.6% in the third quarter. Lummis Asset Management LP now owns 10,368 shares of the aerospace company’s stock valued at $3,133,000 after acquiring an additional 2,551 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of General Dynamics by 0.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 588,619 shares of the aerospace company’s stock worth $177,881,000 after acquiring an additional 5,069 shares during the last quarter. Institutional investors own 86.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GD. Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $293.00 to $345.00 in a research note on Friday, August 9th. Sanford C. Bernstein reduced their target price on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Susquehanna lifted their target price on General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a research report on Thursday, October 17th. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $323.69.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the sale, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.52% of the company’s stock.

General Dynamics Stock Performance

NYSE:GD opened at $281.81 on Friday. The stock has a market capitalization of $77.49 billion, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 1.69 and a beta of 0.61. General Dynamics Co. has a 1 year low of $243.87 and a 1 year high of $316.90. The firm has a 50 day moving average of $300.44 and a 200-day moving average of $296.00. The company has a current ratio of 1.32, a quick ratio of 0.80 and a debt-to-equity ratio of 0.32.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, October 23rd. The aerospace company reported $3.35 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.13). General Dynamics had a return on equity of 16.59% and a net margin of 7.90%. The business had revenue of $11.67 billion during the quarter, compared to analyst estimates of $11.65 billion. During the same period in the prior year, the firm posted $3.04 EPS. General Dynamics’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Dynamics Co. will post 13.98 EPS 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.