Cipher Capital LP Purchases Shares of 19,691 General Dynamics Co. (GD)
Cipher Capital LP purchased a new stake in shares of General Dynamics Co. (NYSE:GD) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 19,691 shares of the aerospace company’s stock, valued at approximately $4,048,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of GD. WFG Advisors LP boosted its position in shares of General Dynamics by 0.3% during the 2nd quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock worth $132,000 after purchasing an additional 2 shares in the last quarter. Zions Bancorporation lifted its position in General Dynamics by 0.5% in the 1st quarter. Zions Bancorporation now owns 732 shares of the aerospace company’s stock valued at $137,000 after acquiring an additional 4 shares in the last quarter. YorkBridge Wealth Partners LLC lifted its position in General Dynamics by 0.5% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 992 shares of the aerospace company’s stock valued at $198,000 after acquiring an additional 5 shares in the last quarter. Guardian Life Insurance Co. of America lifted its position in General Dynamics by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,104 shares of the aerospace company’s stock valued at $207,000 after acquiring an additional 8 shares in the last quarter. Finally, Aviance Capital Management LLC lifted its position in General Dynamics by 0.3% in the 1st quarter. Aviance Capital Management LLC now owns 3,695 shares of the aerospace company’s stock valued at $692,000 after acquiring an additional 10 shares in the last quarter. 85.79% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Dynamics Co. (NYSE:GD) traded down $1.45 during trading on Friday, reaching $197.77. 762,499 shares of the company were exchanged, compared to its average volume of 1,149,349. The company has a market capitalization of $59,480.00, a P/E ratio of 19.88, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. General Dynamics Co. has a 12 month low of $164.97 and a 12 month high of $214.81. The company has a current ratio of 1.37, a quick ratio of 0.93 and a debt-to-equity ratio of 0.34.
General Dynamics (NYSE:GD) last announced its earnings results on Wednesday, October 25th. The aerospace company reported $2.52 EPS for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.09. The business had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $7.94 billion. General Dynamics had a net margin of 9.94% and a return on equity of 27.98%. The firm’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.36 earnings per share. equities research analysts predict that General Dynamics Co. will post 9.81 earnings per share for the current fiscal year.
In other news, VP Gregory S. Gallopoulos sold 78,370 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $202.93, for a total value of $15,903,624.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Patrick Casey sold 34,945 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total transaction of $7,037,224.10. Following the completion of the sale, the insider now directly owns 144,378 shares of the company’s stock, valued at $29,074,841.64. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
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Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus raised their price target on shares of General Dynamics from $200.00 to $210.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Zacks Investment Research lowered shares of General Dynamics from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Deutsche Bank AG restated a “hold” rating and set a $210.00 price target (up previously from $200.00) on shares of General Dynamics in a research note on Monday, October 2nd. ValuEngine upgraded shares of General Dynamics from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BidaskClub upgraded shares of General Dynamics from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. General Dynamics has a consensus rating of “Hold” and an average price target of $218.45.
About General Dynamics
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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