General Dynamics Co. (GD) Stake Raised by QCI Asset Management Inc. NY

QCI Asset Management Inc. NY grew its holdings in shares of General Dynamics Co. (NYSE:GD) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,780 shares of the aerospace company’s stock after buying an additional 1,303 shares during the period. QCI Asset Management Inc. NY’s holdings in General Dynamics were worth $14,285,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ferguson Wellman Capital Management Inc. bought a new stake in General Dynamics during the second quarter worth approximately $15,104,000. Alerus Financial NA raised its holdings in General Dynamics by 11.6% during 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 in the last quarter. Arrow Financial Corp raised its holdings in General Dynamics by 14.7% during 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 in the last quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. bought a new stake in General Dynamics during the second quarter worth approximately $3,403,000. Finally, KCM Investment Advisors LLC raised its holdings in General Dynamics by 1.8% during 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 in the last quarter. 85.84% of the stock is currently owned by institutional investors.

In other news, Director Mark Malcolm acquired 3,000 shares of the stock in a transaction on Friday, October 26th. The shares were purchased at an average cost of $169.87 per share, for a total transaction of $509,610.00. Following the transaction, the director now owns 4,455 shares in the company, valued at approximately $756,770.85. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Patrick Casey sold 22,500 shares of General Dynamics stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $193.28, for a total transaction of $4,348,800.00. Following the transaction, the insider now owns 118,555 shares in the company, valued at $22,914,310.40. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by corporate insiders.

NYSE GD opened at $184.50 on Friday. The firm has a market capitalization of $54.80 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 1.47 and a beta of 0.98. General Dynamics Co. has a 1 year low of $164.76 and a 1 year high of $230.00. The company has a current ratio of 1.27, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $2.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.76 by $0.13. The company 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 firm’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.52 earnings per share. As a group, analysts anticipate that General Dynamics Co. will post 11.3 EPS for the current year.

Several equities research analysts recently commented on the company. Argus dropped their target price on General Dynamics from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Stifel Nicolaus dropped their target price on General Dynamics from $210.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, October 26th. Credit Suisse Group dropped their target price on General Dynamics from $229.00 to $216.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Robert W. Baird dropped their target price on General Dynamics from $243.00 to $222.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Finally, Citigroup dropped their target price on General Dynamics from $210.00 to $195.00 and set a “neutral” rating on the stock in a report on Thursday, October 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $231.00.

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General Dynamics 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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Institutional Ownership by Quarter for General Dynamics (NYSE:GD)

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