General Dynamics Co. (GD) Shares Bought by Reliance Trust Co. of Delaware

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Reliance Trust Co. of Delaware boosted its position in shares of General Dynamics Co. (NYSE:GD) by 9.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,645 shares of the aerospace company’s stock after buying an additional 410 shares during the period. Reliance Trust Co. of Delaware’s holdings in General Dynamics were worth $951,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Perpetual Ltd purchased a new stake in shares of General Dynamics in the third quarter valued at approximately $246,000. Nissay Asset Management Corp Japan ADV boosted its stake in shares of General Dynamics by 1.9% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 33,458 shares of the aerospace company’s stock valued at $6,850,000 after buying an additional 621 shares in the last quarter. Sullivan Bruyette Speros & Blaney LLC purchased a new stake in shares of General Dynamics in the third quarter valued at approximately $216,000. Palladium Partners LLC boosted its stake in shares of General Dynamics by 3.1% in the third quarter. Palladium Partners LLC now owns 53,155 shares of the aerospace company’s stock valued at $10,882,000 after buying an additional 1,623 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of General Dynamics by 4.7% in the third quarter. Arizona State Retirement System now owns 103,813 shares of the aerospace company’s stock valued at $21,253,000 after buying an additional 4,692 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors.

In other news, Director Mark Malcolm bought 3,000 shares of the firm’s stock in a transaction on Friday, October 26th. The shares were bought at an average cost of $169.87 per share, for a total transaction of $509,610.00. Following the completion of the transaction, the director now owns 4,455 shares in the company, valued at $756,770.85. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider S. Daniel Johnson sold 77,810 shares of the business’s 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 sale, the insider now owns 99,333 shares in the company, valued at $19,851,700.05. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.

A number of research firms recently weighed in on GD. Credit Suisse Group lifted their price target on General Dynamics from $224.00 to $229.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Zacks Investment Research downgraded General Dynamics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. Bank of America set a $275.00 price target on General Dynamics and gave the company a “buy” rating in a research note on Tuesday, July 31st. ValuEngine upgraded General Dynamics from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Finally, Drexel Hamilton restated a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a research note on Thursday, August 16th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. General Dynamics has a consensus rating of “Hold” and a consensus target price of $231.00.

GD opened at $172.58 on Thursday. The company has a current ratio of 1.27, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89. The firm has a market cap of $50.91 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 1.37 and a beta of 0.78. General Dynamics Co. has a one year low of $164.76 and a one year high of $230.00.

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

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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