Principal Street Partners LLC Has $467,000 Stock Holdings in General Dynamics Co. (NYSE:GD)

Principal Street Partners LLC lifted its holdings in shares of General Dynamics Co. (NYSE:GD) by 97.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,608 shares of the aerospace company’s stock after purchasing an additional 795 shares during the quarter. Principal Street Partners LLC’s holdings in General Dynamics were worth $467,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Sanders Capital LLC raised its stake in shares of General Dynamics by 1.2% in the 3rd quarter. Sanders Capital LLC now owns 4,178,460 shares of the aerospace company’s stock valued at $1,262,731,000 after acquiring an additional 49,397 shares in the last quarter. Avestar Capital LLC grew its holdings in General Dynamics by 9.1% during the third quarter. Avestar Capital LLC now owns 2,492 shares of the aerospace company’s stock valued at $753,000 after purchasing an additional 208 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of General Dynamics in the third quarter valued at approximately $269,000. FMR LLC lifted its stake in shares of General Dynamics by 0.5% in the third quarter. FMR LLC now owns 4,940,537 shares of the aerospace company’s stock worth $1,493,030,000 after buying an additional 24,464 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in General Dynamics by 1.4% in the 3rd quarter. Bank of Montreal Can now owns 1,356,939 shares of the aerospace company’s stock worth $407,258,000 after acquiring an additional 19,213 shares during the period. Institutional investors own 86.14% of the company’s stock.

Insiders Place Their Bets

In other news, Director Peter A. Wall sold 1,320 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the sale, the director now owns 3,592 shares in the company, valued at approximately $1,106,515.60. This represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

General Dynamics Price Performance

Shares of General Dynamics stock traded down $1.14 during midday trading on Tuesday, hitting $280.21. 39,025 shares of the company were exchanged, compared to its average volume of 1,109,446. The firm has a 50 day simple moving average of $299.91 and a 200-day simple moving average of $295.92. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.32 and a quick ratio of 0.80. The firm has a market cap of $77.05 billion, a P/E ratio of 21.42, a PEG ratio of 1.70 and a beta of 0.61. General Dynamics Co. has a 52 week low of $243.87 and a 52 week high of $316.90.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GD shares. Seaport Res Ptn downgraded General Dynamics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 11th. Sanford C. Bernstein dropped their price target on General Dynamics from $343.00 to $331.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company raised their price objective on shares of General Dynamics from $317.00 to $322.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. Finally, Royal Bank of Canada increased their price target 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. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $323.69.

General Dynamics 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.