Kentucky Retirement Systems Has $5.43 Million Stock Holdings in General Dynamics Co. (NYSE:GD)

Kentucky Retirement Systems grew its stake in General Dynamics Co. (NYSE:GD) by 4.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,965 shares of the aerospace company’s stock after purchasing an additional 832 shares during the quarter. Kentucky Retirement Systems’ holdings in General Dynamics were worth $5,429,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GD. MFA Wealth Advisors LLC boosted its holdings in General Dynamics by 241.7% during the third quarter. MFA Wealth Advisors LLC now owns 82 shares of the aerospace company’s stock worth $25,000 after buying an additional 58 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of General Dynamics in the 3rd quarter valued at approximately $26,000. New Covenant Trust Company N.A. bought a new position in General Dynamics during the 1st quarter worth approximately $29,000. American Capital Advisory LLC acquired a new position in General Dynamics during the second quarter valued at approximately $29,000. Finally, Lowe Wealth Advisors LLC bought a new stake in General Dynamics in the third quarter valued at approximately $30,000. 86.14% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were 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 in the company, valued at approximately $1,106,515.60. This trade represents a 26.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.52% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Barclays boosted their price target on shares of General Dynamics from $325.00 to $330.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Citigroup boosted their target price on General Dynamics from $331.00 to $354.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft dropped their price target on General Dynamics from $309.00 to $306.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Finally, Morgan Stanley upgraded shares of General Dynamics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $293.00 to $345.00 in a report on Friday, August 9th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, General Dynamics currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.69.

General Dynamics Trading Down 1.5 %

General Dynamics stock opened at $287.99 on Friday. The company has a market cap of $79.19 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 1.90 and a beta of 0.61. The firm has a 50-day moving average of $302.45 and a 200-day moving average of $296.27. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. General Dynamics Co. has a one year low of $243.87 and a one year high of $316.90.

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

General Dynamics Company Profile

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.