Mark Malcolm Buys 3,000 Shares of General Dynamics Co. (GD) Stock

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General Dynamics Co. (NYSE:GD) Director Mark Malcolm bought 3,000 shares of the business’s stock in a transaction dated Friday, October 26th. The stock was bought at an average cost of $169.87 per share, for a total transaction of $509,610.00. Following the completion of the purchase, the director now owns 4,455 shares of the company’s stock, valued at approximately $756,770.85. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

General Dynamics stock opened at $172.58 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.87 and a current ratio of 1.27. General Dynamics Co. has a one year low of $164.76 and a one year high of $230.00. The firm has a market cap of $50.30 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 1.33 and a beta of 0.78.

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

GD has been the topic of a number of recent research reports. Argus cut their target price on General Dynamics from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Zacks Investment Research cut General Dynamics from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. Robert W. Baird dropped their price objective on General Dynamics from $243.00 to $222.00 and set an “outperform” rating on the stock in a research report on Thursday, October 25th. Wells Fargo & Co dropped their price objective on General Dynamics from $250.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, October 25th. Finally, Credit Suisse Group dropped their price objective on General Dynamics from $229.00 to $216.00 and set an “outperform” rating on the stock in a research report on Thursday, October 25th. Three research 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’s stock. The stock has an average rating of “Hold” and an average price target of $231.00.

Large investors have recently made changes to their positions in the business. Ferguson Wellman Capital Management Inc. purchased a new position in General Dynamics in the second quarter worth about $15,104,000. Alerus Financial NA boosted its position in General Dynamics by 11.6% in the second quarter. Alerus Financial NA now owns 17,432 shares of the aerospace company’s stock worth $3,250,000 after purchasing an additional 1,808 shares during the last quarter. Arrow Financial Corp boosted its position in General Dynamics by 14.7% in the second quarter. Arrow Financial Corp now owns 6,541 shares of the aerospace company’s stock worth $1,219,000 after purchasing an additional 840 shares during the last quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. purchased a new position in General Dynamics in the second quarter worth about $3,403,000. Finally, KCM Investment Advisors LLC boosted its position in General Dynamics by 1.8% in the second quarter. KCM Investment Advisors LLC now owns 17,868 shares of the aerospace company’s stock worth $3,331,000 after purchasing an additional 317 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

General Dynamics Company Profile

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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